Startup India Seed Fund Scheme Lauch date | Startup India seed fund scheme guidelines amount logo upsc
Startup India Seed Fund Scheme Lauch date (SISFS) | Startup India seed fund scheme guidelines amount logo upsc
startup india seed fund scheme launch date
The Startup India Seed Fund Scheme's purpose is to give startups financial support for proof of concept, model development, product testing, market access, and going into business. On February 5, 2021, the Indian Government helped make a formal statement about SISFS's permission.
It's been approved for four years and will go into effect on April 1, 2021. Also, the linked article has a Checklist of Government Plans in India that you can get. In this article, our company should talk about the Scheme's most important goals and what they mean in this case. This topic is also important from the point of view of the IAS Assessment.
startup india seed fund scheme guidelines
Regarding the SISF Scheme
- The Scheme aims to help startups with money during the first part of their projects.
- It is allowed for four years, starting in 2021–2022.
- Over the next four years, the Rs. 945 Crore corpus will be split up and used to give seed funding to qualified startups in India through incubators.
- The Startup India Seed Fund Scheme should help more than 3600 new businesses in the country.
- This plan fits in with the Atmanirbhar Bharat Initiative, which will be launched in May 2020.
- Seed Fund will be given to a qualified startup by the incubator as follows: Up to Rs. 20 Lakhs as a grant to validate Proof of Principle, prototype development, or even product tests.
- You can spend up to Rs with changeable bonds, financial debt, or debt-linked equipment. 50 Lakhs to get into a market, make it commercial, or grow.
The linked write-up tells candidates everything they need to know about the Startup India Scheme, which was made to help the country's startup sector.
startup india seed fund scheme amount
What is seed funding?**
Seed financing, also called "seed-stage funding" is a big expense at the start. Most of the time, real estate investors get an equity risk for the money they spend. It is called "bootstrapping" when business owners use their discounts to get it off the ground.
What kind of demand is there in India for the Startup Seed Financing Scheme?
In the seed and "Verification of Concept" growth stages, the Indian startup community has trouble getting enough money. The money needed at this stage is often the difference between success and failure for new businesses with good ideas.
startup india seed fund scheme upsc
Many great ideas for businesses don't get off the ground because they don't have the money they need at an early stage. Suppose seed funding is given to these favorable situations. In that case, they can easily have a multiplier effect that invalidates the service ideas of many new businesses, creating jobs in the country.
A State Startup Ranking Framework has been set up in India to help States and UTs build their startup ecosystems. The linked short article can find the most recent report from the States' Startup Position Platform.
startup india seed fund scheme logo
Does that everyone deserve SISFS?
For a startup to be able to use the Startup India Seed Fund Scheme, it will have to meet the following criteria:
- The Team for Promotion of Industry and Internal Exchange must approve the new business (DPIIT).
- At the time of use, it couldn't have been used more than two years ago.
- Startups with new ideas in fields like social impact, trash monitoring, water monitoring, economic inclusion, education, agriculture, food handling, medical, medical care, energy, flexibility, defense, room, train lines, oil and gas, clothes, etc., would get the chance to compete.
- The company must not have received more than Rs 10 lakh in funding from any other Central or State Government Scheme.
- When using the incubator for the Scheme, Indian promoters must own at least 51 percent of the startup.
What is the SISFS Professionals Advisory Board (EAC)?
A Professional Advisory Board will be part of DPIIT. This board will be in charge of the Startup India Seed Fund Scheme and will keep an eye on it. The EAC will evaluate and choose incubators to give Seed Funds to, keep an eye on progress, and do whatever else is needed to ensure the money is used reliably.
Members of EAC should come from different departments. EAC is made up of:
- A Leader.
- Financial Consultant, DPIIT, or even his agent.
- Added Secretary, Joint Assistant, Supervisor, and Deputy Secretary, DPIIT.
- One Rep each from: (DBT).
- The Science and Technology Division (DST).
- Electronics and IT both fall under the Ministry of (MeiTY).
- Indian Council of Agricultural Studies (ICAR).
- NITI Aayog.
- Assistant, DPIIT picked at least three professional participants from the startup ecosystem, entrepreneurs, and experts in R&D, technology growth and monetization, entrepreneurship, and other relevant fields.
Candidates can go to the Full list of Committees and Profits in India page to learn about the other important committees in the country.
