Startup India Seed Fund Scheme aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialisation. The scheme would enable startups to reach a level where they will be able to raise investments from angel investors or venture capitalists or seek loans from commercial banks or financial institutions. The Seed Fund will be disbursed to eligible startups through eligible incubators across India.
Salient Features of the Seed Fund Scheme are:
• Year Round Call for Applications for Startups and Incubators
• No Mandatory Physical Incubation
• PAN-India startup programme
• Startups can Apply to 3 Incubators Simultaneously
The Commerce and Industry Minister Piyush Goyal on April 19, 2021, launched the Startup India Seed Fund Scheme. Applications for Startups will open on 1st July 2021.