Daily Current Affairs

Centre Approves ‘Startup India Seed Fund Scheme’

Current (GK) Indian Economy

The Central Government has approved ‘Start-up India Seed Fund Scheme’ (SISFS) on January 29, 2021, which aims to provide financial assistance to start-ups for the product trials, market-entry, proof of concept, prototype development and commercialization.
Total Corpus: Rs 945 crore
Validity: Five years (2021-25). The scheme will become operational from April 1, 2021.
The scheme will be implemented by the Department for Promotion of Industry and Internal Trade (DIIT).
The funds under the scheme will be disbursed through the selected incubators across the country.
The startup will receive seed support only once.