• The Startup India Seed Fund Scheme (SISFS) implemented with effect from 1st April 2021 with a corpus of Rs. 945 crores.
• The Scheme aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.

The Startup India Seed Fund Scheme (SISFS) has been approved for the period of 4 years starting from 2021-22. The Scheme aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. It is implemented with effect from 1st April 2021 with a corpus of Rs. 945 crores.

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. 126 incubators have been approved and these incubators have selected 656 startups under the Scheme as on 30th November 2022. Year-wise distribution of approved incubators and selected startups is placed at Annexure-I.

This information was provided by Minister of State in the Ministry of Commerce and Industry, Shri Som Parkash in reply to a parliamentary question today.

ANNEXURE-I

Year-wise list of incubators approved and startups supported by approved incubators under SISFS (Scheme made operational in FY 2021-22) as on 30^th November 2022 is as under:

Startup Seed Fund Scheme provides early-stage financial assistance; approved incubators select startups under EAC oversight. The Startup India Seed Fund Scheme provides early stage financial assistance for proof of concept, prototype development, product trials, market entry and commercialization, was made operational from 1 April 2021 for a four year period with a dedicated corpus, and is overseen by an Experts Advisory Committee that evaluates and selects incubators; approved incubators then select startups under Scheme guidelines, with 126 incubators approved and 656 startups selected as on 30 November 2022.