DPIIT Initiates Third-Party Evaluation of Startup India Seed Fund Scheme
- ByStartupStory | May 4, 2023
A government official announced on Tuesday that the Department for Promotion of Industry and Internal Trade (DPIIT) is conducting a third-party evaluation of the Startup India Seed Fund Scheme to assess its on-ground impact. Launched in April 2021, the scheme aims to offer financial support to startups for various stages of development, such as proof of concept, prototype development, and market entry. With a budget of Rs 945 crore, the fund is divided into four years and is aimed at providing seed funding to eligible startups through incubators across India.
According to Manmeet Nanda, the Joint Secretary in DPIIT, the Startup India Seed Fund Scheme has been advantageous for the startup community. The scheme is currently undergoing a third-party impact assessment, conducted by NIFM, to evaluate its effectiveness. The review will assess the performance of startups and incubators and determine how the funding has contributed to creating more opportunities. The assessment will also provide feedback on areas for improvement. Nanda shared this information with reporters, stating that the independent evaluation will assess how the scheme has benefited the startup ecosystem.
During her interaction with reporters, Nanda disclosed that approximately 98,000 startups have been registered with DPIIT. The government launched Startup India on January 16, 2016, to support startups through various stages of the business cycle. As part of this initiative, the government introduced the Fund of Funds and Startup India Seed Fund schemes to provide capital to startups. The Seed Fund Scheme is catering to startups in diverse sectors, such as agriculture, healthcare, education, IT services, and automobiles, helping them grow and succeed.
Nanda also highlighted that more than 100 women-led startups in the healthcare sector have been approved under the scheme. She emphasized the scheme’s ability to generate a multiplier effect, indicating its far-reaching impact beyond the immediate beneficiaries.
Calling all entrepreneurs, investors and business owners! The wait is finally over. The 2nd edition of Startup Story B2B Connect is back with a bang – and this time, we’re taking it up a notch. With more startups, more investors and bigger opportunities than ever before, this is your chance to connect, collaborate and take your business to the next level. Get ready for an unforgettable networking experience that’s set to change the game. Stay tuned for all the exciting updates! Register Now Here.
Follow Startup Story
Related Posts
