{"id":10355,"date":"2023-05-03T06:57:56","date_gmt":"2023-05-03T01:27:56","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=10355"},"modified":"2025-03-29T19:46:14","modified_gmt":"2025-03-29T14:16:14","slug":"startup-india-seed-fund-scheme-sisfs","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/startup-india-seed-fund-scheme-sisfs\/","title":{"rendered":"Startup India Seed Fund Scheme (SISFS)"},"content":{"rendered":"<h2><strong>About Startup India Seed Fund Scheme (SISFS):<\/strong><\/h2>\n<ul>\n<li>It is a flagship scheme <strong>launched in April 2021 under the Startup India<\/strong> initiative.<\/li>\n<li><strong>Aim<\/strong>: <strong>Financial assistance to startups for proof of concept<\/strong>, <strong>prototype development<\/strong>, product trials, market entry, and commercialization.<\/li>\n<li>It is <strong>implemented<\/strong> with e\ufb00ect <strong>from 1st April 2021 for the period of 4 years<\/strong> with a corpus of <strong>Rs.945 crores.<\/strong><\/li>\n<li><strong>Nodal Department:<\/strong> <strong>Department for Promotion of Industry and Internal Trade (DPIIT)<\/strong>, under the Ministry of Commerce &amp; Industry.<\/li>\n<li><strong>Funding:<\/strong>\n<ul>\n<li>An <strong>Experts Advisory Committee (EAC) has been created<\/strong> by DPIIT <strong>to execute<\/strong> and monitor the <strong>SISFS<\/strong>.<\/li>\n<li>The <strong>EAC will select eligible incubators<\/strong> who will be <strong>provided grants of upto Rs 5 Crores<\/strong> each.<\/li>\n<li>In turn, the <strong>selected incubators will provide startups with up to Rs 20 lakhs<\/strong> for validation of Proof of Concept, prototype development, and product trials to startups.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Eligibility criteria for Startups:<\/strong>\n<ul>\n<li>A <strong>startup recognized by DPIIT incorporated not more than 2 years ago<\/strong> at the time of application.<\/li>\n<li>The <strong>startup must have a business idea<\/strong> to develop a product or a service with a market fit, viable commercialization, and scope of scaling.<\/li>\n<li>The <strong>startup should be using technology in its core product or service<\/strong>, or business model, or distribution model, or methodology to solve the problem being targeted.<\/li>\n<li>Startup <strong>should not have received more than Rs 10 lakh of monetary support<\/strong> <strong>under any other Central<\/strong> <strong>or State Government scheme<\/strong>.\u00a0<\/li>\n<li><strong>Shareholding by Indian promoters in the startup should be at least 51%<\/strong> at the time of application to the incubator for the scheme.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3>Q1)\u00a0What is the Department for Promotion of Industry and Internal Trade (DPIIT)?<\/h3>\n<p>DPIIT functions under the Ministry of Commerce and Industry, Government of India. It is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector, keeping in view the national priorities and socio-economic objectives.<\/p>\n<p><strong>Source:\u00a0<\/strong><a href=\"https:\/\/economictimes.indiatimes.com\/tech\/startups\/dpiit-undertaking-third-party-assessment-of-startup-india-seed-fund-scheme\/articleshow\/99937970.cms?from=mdr\" target=\"_blank\" rel=\"nofollow noopener\"><u>DPIIT undertaking third-party assessment of Startup India Seed Fund scheme<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Startup India Seed Fund Scheme is a flagship scheme launched in April 2021 under Startup India initiative.<\/p>\n","protected":false},"author":5,"featured_media":10356,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-10355","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/10355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=10355"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/10355\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/10356"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=10355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=10355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=10355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}