The Rs 945 crore Startup India Seed Fund Scheme (SISFS) will be operational from April 1, 2021, to 2025 as the government looks to boost the ecosystem, providing the crucial capital for young companies.
The scheme will be implemented by the Department for Promotion of Industry and Internal Trade (DPIIT).
In a gazette notification, the government announced that Startup India Seed Fund Scheme will provide financial assistance to startups that have been recognised by the DPIIT and incorporated not more than two years ago at the time of application. This money will be disbursed through selected incubators across India.
The Startup India Seed Fund Scheme is sector-agnostic and will have a central common application on Startup India…