Scheme aims to provide financial assistance to startups, says Minister
The Rs.945 crore Startup India Seed Fund Scheme (SISFS) has 126 approved incubators which have selected 656 startups as on 30th November 2022.
Minister of State for Commerce and Industry Som Parkash gave this update on the scheme in a reply to a parliamentary question on 23 Dec 2022.
The SISFS, implemented with effect from 1 April 2021, aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.
As per provisions under SISFS, the Government has constituted an Experts Advisory Committee (EAC) which is responsible for the overall execution and monitoring of the SISFS. The EAC evaluates and selects incubators for funds under the Scheme.
These incubators thereon select the startups based on certain parameters outlined in Scheme guidelines, he said. fiinews.com
