Question
Download Solution PDFStartup India Seed Fund Scheme (SISFS) was launched by __________ on 19th April 2021.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Piyush Goyal.
Key Points
- The then Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution Piyush Goyal launched the Startup India Seed Fund Scheme (SISFS).
- The Fund aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialization.
- The Scheme aims to provide financial assistance to startups at the very initial stage of their project.
- It has been approved for a time period of four years, starting from 2021-22
- Rs. 945 Crore corpus will be divided over the next 4 years for providing seed funding to eligible startups through eligible incubators across India
- It is expected that the Startup India Seed Fund Scheme shall help over 3600 startups in the country
- This scheme is in line with the Atmanirbhar Bharat Campaign launched in May 2020
- Seed Fund to an eligible startup by the incubator shall be disbursed as follows:
- Up to Rs. 20 Lakhs as a grant for validation of Proof of Concept, or prototype development, or product trials.
- Up to Rs. 50 Lakhs of investment for market entry, commercialisation, or scaling up through convertible debentures or debt or debt-linked instruments.
Last updated on Jun 26, 2025
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