656 Startups supported by approved Incubators under SISFS

The Startup India Seed Fund Scheme (SISFS) has been approved for the period of 4 years starting from 2021-22.

The Scheme aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialization. It is implemented with effect from 1st April 2021 with a corpus of Rs. 945 crores.

As per provisions under SISFS, the Government has constituted an Experts Advisory Committee (EAC) which is responsible for the overall execution and monitoring of the SISFS.

The EAC evaluates and selects incubators for funds under the Scheme. These incubators thereon select the startups based on certain parameters outlined in Scheme guidelines.

126 incubators have been approved and these incubators have selected 656 startups under the Scheme as on 30th November 2022.

This information was provided by the Minister of State in the Ministry of Commerce and Industry, Shri Som Parkash in reply to a parliamentary question today.

Source: PIB.

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