Govt notifies Rs 945 crore seed fund scheme for startups

The government has approved the Startup India Seed Fund Scheme (SISFS) with a corpus of Rs 945 crore to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.

The funds will be disbursed through selected incubators across India from 2021-25, the Department for Promotion of Industry and Internal Trade (DPIIT) said in a notification.