(Mitesh Solanki)
- Startup India Seed Fund Scheme is launched by Ministry of Commerece and Industy.
- This scheme will provide financial support to the Startups for prototype development, proof of concept, production trial as well as market entry.
- Total 945 Cr. Rupees will be issued in coming next four years to Startups which will be sufficient for 3600 Startups and many Incubators.
- Above scheme is aimed to provide financial support to those Startups which are in Tier-2 & Tier-3 cities where generally shortage of funding is felt.
- Under this scheme, for prototype development and production trial Rs. 20 lakh and for scaling up of product Rs. 50 lakh will be issued.
- DPIIT and Internal Trade will form an Expert Advisory Committee to monitor the overall implementation of scheme.