The Startup India initiative of the Government of India envisages building a robust Start-up ecosystem in the country for nurturing innovation and providing opportunities to budding entrepreneurs.

   Startup India Seed Fund Scheme (SISFS) is one such scheme which/that provides financial assistance to early-stage startups.

   Easy availability of capital is essential for entrepreneurs at the early stages of growth of an enterprise.

   Funding from angel investors and venture capital firms becomes available to startups only after the proof of concept has been provided. Similarly, banks provide loans only to asset-backed applicants. It is essential to provide seed funding to startups with an innovative idea to conduct proof of concept trials.

   DPIIT has created Startup India Seed Fund Scheme (SISFS) with an outlay of INR 945 Crore to provide financial assistance to startups for Proof of Concept, prototype development, product trials, market entry, and commercialization. It will support an estimated 3,600 entrepreneurs through 300 incubators in the next 4 years.

   The Hon’ble Prime Minister of India announced the scheme in his Grand Plenary address of Prarambh : Startup India International Summit on 16th January 2021. After approval of EFC and Hon’ble Finance Minister, the scheme has been notified on 21.01.2021.

The Seed Fund will be disbursed to eligible startups through eligible incubators across India.

Many innovative business ideas fail to take off due to the absence of this critical capital required at an early stage for proof of concept, prototype development, product trials, market entry and commercialization.

Seed Fund offered to such promising cases can have a multiplier effect in validation of business ideas of many startups, leading to employment generation.

GIET University hosted a stellar two-day workshop on Renewable Energy Technologies Using MATLAB, in association with Purewatt Renewables. Empowering students and professionals alike, the event was a hub of innovation and learning.