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The Startup India Seed Fund Scheme Approved Incubators for Over $477 Cr

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As of December 31, 2022, the Startup India Seed Fund Scheme (SISFS), which has a corpus fund of 945 crores, had approved over 477 crore to incubators, according to Minister of State for Commerce and Industry Som Parkash. "Under the Scheme, Rs. 477.25 crore has been approved to 133 incubators of which Rs. 211.63 crore has been distributed as on 31st December 2022," the minister stated in a written response to a query in the Rajya Sabha.

Startups are given help at several phases of their business cycles through the fagship programmes offered by Startup India Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS). The firms can then seek loans from commercial banks or other financial institutions, or obtain funds from angel investors or venture capitalists. commercial bank loans or loans from other financial institutions.

With effect from 1 April 2021, the government will introduce the Startup India Seed Fund Scheme (SISFS), which would give qualifying Department for Promotion of Industry and Internal Trade (DPIIT)-recognized startups financial support for product development, market entry, and commercialization.

As a result, the firms can advance to a stage when they can look for loans from commercial banks or financial institutions, or obtain funds from angel investors or venture capitalists. The Center also runs yearly initiatives and programmes, such as the States' Startup Ranking, the National Startup Awards, and Innovation Week, which are crucial to the overall growth of the startup ecosystem.

"The government wants regulatory and policy related proposals for improving ease of doing business and decreasing compliance burden for startup ecosystem through stakeholder dialogues. According to the Ministry of Commerce & Industry, it also makes it easier for the Indian startup ecosystem to participate in and engage with international platforms.