Funding of Rs 375 cr approved for 102 incubators under Startup India Seed Fund

New Delhi, Aug 5 (KNN) Under the Startup India Seed Fund Scheme (SISFS), Rs 375.25 crore have been approved to 102 incubators out of the corpus of Rs. 945 crore as of July 30 2022, said MoS for Commerce and Industry, Som Parkash, in a written reply in the Rajya Sabha on Friday.

A total sum of Rs 81.45 crore has been approved for the 378 DPIIT recognised startups by the approved incubators under the Scheme.

In view of the North Eastern States two incubators from Sikkim and Assam have been approved a total sum of Rs 5 crore.

And a total sum of Rs 1.15 crore have been approved for 9 DPIIT recognised startups from North Eastern States by the approved incubators.

SISFS is being implemented by the Government with effect from April 1, 2021.

It provides financial assistance to eligible Department for Promotion of Industry and Internal Trade (DPIIT) recognised startups for proof of concept, prototype development, product trials, market entry and commercialization.  (KNN Bureau)