More Than Rs.375 Crore Approved To Incubators Under Startup India Seed Fund Scheme

8 Aug 2022 , 12:53 PM

As of 30 July, 2022, 102 incubators received approval for Rs.375.25 crore (US$ 47.38 million) under the Startup India Seed Fund Scheme (SISFS), out of a total corpus of Rs. 945 crore (US$ 119.26 million). Additionally, 378 DPIIT-recognized startups have received approval from designated incubators under the scheme for a total of Rs. 81.45 crore (US$ 10.29 million). Two incubators from the north eastern states (Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura) were approved for a total of Rs. 5 crore (US$ 631,400.5) under the scheme. The authorized incubators under the scheme also approved a total of Rs. 1.15 crore (US$ 145.222.11) for nine DPIIT-recognized startups from north eastern states. The Startup India Seed Fund Scheme (SISFS) was launched on 1 April, 2021 to provide financial assistance to startups that have been approved by the Department for Promotion of Industry and Internal Trade (DPIIT) for proof of concept, prototype development, product trials, market entry, and commercialization.Powered by Capital Market – Live News