Summary
- The Startup India Seed Fund Scheme (SISFS) aims to provide early-stage financial support to DPIIT-recognized startups for crucial stages like proof of concept and market entry.
- Announced by the Prime Minister on January 16, 2021, the scheme addresses funding gaps before startups can access venture capital or bank loans.
- Eligible startups must be incorporated within two years, have innovative ideas, and meet specific funding criteria, including not exceeding Rs. 10 lakh from other government schemes.
- This initiative is expected to foster innovation and generate employment by enabling promising startups to scale their operations effectively.
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