₹375.25Cr approved to 102 incubators under Start-up seed fund

National award startup India

New Delhi: Various departments of the Central government have approved as many 102 incubators under the Start-up India Seed Fund Scheme (SISFS), totalling an expenditure of ₹375.25 crore. The Centre has allocated the corpus of ₹945 crore for SISFS.

Also, as many as 378 startups, recognised by the Department for Promotion of Industries and Internal Trade (DPIIT), have been approved with total sum of ₹81.45 crore  as approved incubators under the Scheme.

Two incubators (one each from Sikkim and Assam) have been approved a total sum of ₹5 crore under the Scheme. The North Eastern region states, including Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura, have got nine DPIIT recognised startups approved a total sum of ₹1.15 crore by the approved incubators under the Scheme.

Also Read: NITI Aayog calls for applications for incubation & innovation centres

The SISFS is being implemented by the Government with effect from 1st April 2021. It provides financial assistance to eligible DPIIT recognised startups for proof of concept, prototype development, product trials, market entry and commercialization. This enables the startups to graduate to a level where they will be able to raise investments from angel investors or venture capitalists, or seek loans from commercial banks or financial institutions. SISFS is disbursed to eligible startups through eligible incubators across India.

  • ₹375.25 crore approved to 102 incubators under SISFS as on 30th July 2022
  • ₹81.45 crore approved to 378 startups under SISFS
  • A total ₹5 crore approved to 2 incubators of Sikkim and Assam
  • ₹1.15 crore approved to 9 startups from NE States under SISFS

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