About 45% of approved Startup India Seed Fund disbursed in 2022

New Delhi, Feb 3 (KNN) Under the Startup India Seed Fund Scheme (SISFS), Rs 211.63 crore has been distributed to 133 incubators from the Rs 477.25 crore approved fund as on December 31, 2022, said Minister of State for Commerce and Industry, Som Parkash on Friday in his reply to a Parliament Question.

The scheme is a flagship scheme under Startup India initiative which has been implemented with effect from April 1, 2021.

The flagship schemes under Startup India initiative namely, Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS) extend support to startups at various stages of their business cycle.

The startups thereafter, are able to raise investments from angel investors or venture capitalists or seek loans from commercial banks or financial institutions.

SISFS has been approved with a corpus of Rs 945 crore for the period of 4 years starting from 2021-22.  (KNN Bureau)