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February 8, 2021
Startups in India will be able to avail financial assistance under the Rs 1,000 crore Startup India Seed Fund starting from April 1, 2021, the Commerce Minister of State Som Prakash informed Rajya Sabha last week. The scheme, announced by Prime Minister Narendra Modi in January, aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialisation.
Rs 945 crore will be divided over the next four years for providing seed funding to eligible startups through eligible incubators across India. The scheme is expected to support about 3600 startups, Prakash said. He was responding to questions raised by YSRCP’s Venkataramana Rao Mopidevi.