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Prime Minister Shri Narendra Modi announced the launch of Rs 1,000-crore "Startup India Seed Fund" to support startups and help entrepreneurs. The Prime Minister while speaking at, Prarambh, the Startup India International Summit on the 15th & 16th of January 2021, announced that to provide initial capital for startups, the nation is launching a Rs 1,000 crore Startup India Seed Fund. This fund will help set up new startups and boost their growth.
The Department for Promotion of Industry and Internal Trade (DPIIT) rolled out a scheme 'Startup India Seed Fund Scheme' (SISFS) to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. Under this scheme, the financial assistance will be provided to startups via corpus of Rs. 945 Crore to be paid through selected incubators across India in 2021-25.
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