Startup India Seed Fund Scheme
The Startup India initiative by the Indian Government aims to promote innovation and provide opportunities for aspiring entrepreneurs, creating a robust startup ecosystem in the country.
The outlined Action Plan aims to create a positive startup atmosphere in India, resulting in the launch of various initiatives that offer support to startups. The Startup India Seed Fund Scheme (SISFS) is one such plan that provides financial assistance to early-stage businesses.
What is Startup India Seed Fund Scheme?
For entrepreneurs in the early stages of their business, having convenient access to financing is crucial. Angel investors and venture capital firms will only provide funding to startups that have proven their concept. Similarly, banks will only lend to applicants who have assets to support their claims. Seed capital is essential for firms with new ideas to undergo proof of concept trials.
Qualifying entrepreneurs in India will receive the Seed-Fund(Hyper Link) through incubators spread across the country.
Many new business concepts fail due to insufficient funding for proof of concept, prototype development, product trials, market entry, and commercialization in the early stages.
Seed funding for promising cases can result in validating company ideas and creating jobs.