Question : Startup India Seed Scheme

(a) whether the Government has unveiled a Startup India Seed Fund Scheme(SISFS) to handhold and financially support early-stage startups across 300 incubation centres and the fund is expected to benefit around 3,600 startups and boost the startups ecosystem, particularly in tier-2 and 3 cities;

(b) if so, whether the fund aims to provide financial assistance to startups for proof of concept, prototype development, product trials to ensure adequate availability of funds, especially for startups with good ideas and this scheme supports domestic entrepreneurs and their business ideas who often cannot take off due to the absence of funding at early stage;

(c) if so, the details thereof, State-wise including AP and Telangana; and

(d) the details of the progress made/implementation status thereof along with funds sanctioned/spent as on date and the response received, city-wise?

Answer given by the minister

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THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE & INDUSTRY
(SHRI SOM PARKASH)

(a) & (b): Yes sir. The Hon’ble Prime Minister of India has announced the Startup India Seed Fund Scheme (SISFS) on 16th January 2021. The scheme has been notified vide notification of the Department for Promotion of Industry and Internal Trade on the 21st January, 2021. Copy of the notification is available at website of this department: https://dipp.gov.in/sites/default/files/notification-Startup-29January2021.pdf.
(c) & (d): The scheme has been operationalized with effect from 1st April 2021 and an online portal has been created for incubators and startups to apply.

The list of incubators whose applications are at different stages on the online portal are given at Annexure.

Till now, the following incubators have been sanctioned grants under the Startup India Seed Fund Scheme (SISFS) as follows:-
<pre>

S.No. Incubator Registered Name State Sanctioned amount
(Rs. In crore)
1. IIMK LIVE Kerala 5.00
2. Forum for Innovation Incubation Research and Entrepreneurship Goa 3.00
3. Gujarat Foundation for Entrepreneurial Excellence Gujarat 5.00
4. Association of Lady Entrepreneurs of India Telangana 2.00
5. Dayananda Sagar Entrepreneurship Research & Business Incubation Foundation Karnataka 3.00
6. Coimbatore Innovation and Business Incubator Tamil Nadu 2.00
7. Crescent Innovation and Incubation Council Tamil Nadu 5.00
8. Centre for Advancing and Launching Enterprises Gujarat 3.00
9. COEP’S Bhau Institute of Innovation Entrepreneurship and Leadership Maharashtra 2.00
Total 30.00

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