According to Minister of State for Commerce and Industry Som Parkash, as of December 31, 2022, incubators under the Startup India Seed Fund Scheme (SISFS) had received approval for more than 477 crore of a 945 crore corpus fund.
Startup India’s flagship programmes, including the Credit Guarantee Scheme for Startups (CGSS), the Startup India Seed Fund Scheme (SISFS), and the Fund of Funds for Startups (FFS), provide assistance to businesses at various phases of their life cycles. The firms can then seek loans from commercial banks or other financial institutions, or obtain funds from angel investors or venture capitalists.
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.
