Startup India Seed Funds Scheme 2021! – Eligibilty Criteria, Provisions Provided and more

Startup India Seed Funds

Startup India Seed Funds 2021

Launched by: Prime Minister Narendra Modi

Launch Year: 6 January 2021

Operational From: April 1 2021 till 2025

[Official Website To know More about The scheme Click Here]

The scheme has mainly developed with the purpose to help all new bootups and help to build, develop and pursue new ideas.

The scheme has announced Rs. 1,000 Crore to provide initial capital for start-ups.

Prime Minister Narendra Modi has communicated with the youths for the growth of start-ups through video conference at an international summit.

It will mainly help in generating jobs and improving the lives of people.

Benefits of Startup India Seed Funds!

  • To give initial capital for all start-ups, the Scheme is launching Rs. 1,000 crore for all the startups.
  • It will help in setting up new startups and promote their growth, with success.
  • India has become the third-largest startup which has helped several developing entrepreneurs
  • To come up with innovative technologies and become big corporations the country has helped many startups.
  • Startup in India is not limited only to big cities
  • About 40% of such developing entrepreneurs are coming from small cities and Tier-2 and Tier-3 cities.
  • Even in the year 2014, there were only 4 startups in the unicorn club
  • But today there are more than 30 startups mentioned in the Unicorn club
  • 11 startups entered the unicorn club in 2020 itself.
  1. At the Startup India International Summit, the commerce and industry minister invited all the start-ups in India
  2. The BIMSTEC nations to look at our neighbors, both through investments, and to support, foster the larger ecosystem for startups in the region.

Provisions Provided by Startup Seed Funds:

Provision of Startup India Seed Fund

  • The fund will provide up to 20 lakhs as a grant for validation of proof of concept to the start-ups.
  • The Department for promotion of Industry and Internal Trade (DPIIT) is set to invest in start-ups India Seed Fund Scheme
  • It is in the process of setting up a committee to shortlist these startups and will become operational from April 1 of this year till 2025

Eligibility Criteria!

  • The startup should be operational for at least two years
  • The new startups must have employees to apply for this scheme
  • Should have at least one full-time Chief Executive Officer, and must have experience in business development
  • Startups need to have a business idea to develop a product or a service
  • They should have a proper market fit and should have a large scope of scaling
  • Startups should be using technology in their main product or service
  • They should develop a business model and solve the problem if they face any
  • Most preference would be given to those startups who are creating innovative solutions for the ones who are facing problems

Read More: [ Click Here To Know More About Other Government Schemes ]

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