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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

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