Govt. allocates Rs. 283.5 crore for start up India seed fund scheme

• ByStartupStory     |    February 4, 2022

The government toiled up the start up India seed fund Scheme ( SISFS) which aspires to furnish financial assistance to start ups for proof of concept, prototype development, products trials, market- entry and commercialisation.

 The government has designated Rs. 283.5 crore for the start up India Seed fund Scheme in the budget 2022- 23, which is larger as compared to the altered approximate of around Rs 100 crore.

The budgetary designations for the Funds of Funds for start ups stood at Rs. 1,000 crore.

The government has arranged a fund of funds for start ups (FFS) with a cadaver. Of Rs. 10,000 crore.

The few little industries development Bank of India ( SIDBI) is the functional agency for the FFS.

The government rolled out out the start up India seed fund Scheme ( SISFS), which fosters to facilitate financial assistance to start up for proof of concept, prototype development, product trials, market- entry and commercialisation.

As the budget documents depicts, the utilisation for the start up India programme has been augmented to Rs. 50 crore for 2022- 23 from the altered estimate of Rs. 32.83 crore in 2021- 22.

Follow Startup Story