Sign In
Learn bits
Economy
Pradeep Kumar

06/02/21 09:19 AM IST

Startup India Seed Fund Scheme

In news

Startup India Seed Fund Scheme (SISFS) has been approved for the period of next four years starting from 2021-22.

Aim

The Scheme aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. 

Highlights
  • It will be implemented with effect from 1stApril 2021.
  • Rs. 945 Crore corpus will be divided over the next 4 years for providing seed funding to eligible startups through eligible incubators across India.
  • The scheme is expected to support about 3600 startups.
Benefits under 'Atmanirbhar Bharat'
  • Rescheduling of Payments – Term Loans and Working Capital Facilities
  • Easing of Working Capital Financing
  • Production-Linked Incentive (PLI) Scheme
  •  Reliefs through Employee Provident Fund (EPF)
  •  EPF contribution reduced for Business & Workers for 3 months
Source: PIB

More Related Current Affairs View All

16 Jan

INS Surat, INS Nilgiri and INS Vaghsheer commissioned

'PM Modi dedicated three frontline naval combatants to the nation on their commissioning.' The naval combatants – INS Surat, INS Nilgiri and INS Vaghsheer --were commissio

Read More

15 Jan

Meta shutting down fact-checkers

'Meta CEO Mark Zuckerberg said the company will get rid of fact-checkers and simplify content policies by removing restrictions on topics as it is “out of touch with mainstre

Read More

15 Jan

Mission Mausam

'Prime Minister Narendra Modi launched  ‘Mission Mausam’, a groundbreaking initiative aimed at making India a weather-ready and climate-smart nation, as part of th

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps