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New Delhi : Startup India Seed Fund Scheme (SISFS) has been approved for the period of next four years starting from 2021-22. It will be implemented with effect from April 1, 2021.

The Scheme aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialisation. 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 3,600 startups. A number of measures announced under Atmanirbhar Bharat Package are beneficial for Startups.

This information was given by the Minister of State, Ministry of Commerce and Industry, Som Parkash, in a written reply in the Rajya Sabha on February 5, 2021, according to a PIB release.