New Delhi : The Start-Up India Fund Scheme was implemented from 1st April 2021 under the Start-Up India initiative. Rs.477.25 crore has been allocated for 133 occupational health centers under this scheme. Union Minister of State for Commerce and Industry Mr. Somprakash has said that Rs.211.63 crore has been released on December 31, 2022.
The flagship schemes under Startup India initiative namely, Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS) extend support to startups at various stages of their business cycle. The startups thereafter, are able to raise investments from angel investors or venture capitalists or seek loans from commercial banks or financial institutions.
The Startup India Seed Fund Scheme (SISFS) has been approved with a corpus of Rs. 945 crore for the period of 4 years starting from 2021-22. Under SISFS, as per provisions of the Scheme, the Government has constituted an Experts Advisory Committee (EAC) which is responsible for the overall execution and monitoring of the SISFS. The EAC evaluates and selects incubators for allocation of funds under the Scheme. The selected incubators thereon shortlist the startups based on certain parameters outlined in Scheme guidelines.
The Government also implements flagship annual exercises and programs including States’ Startup Ranking, National Startup Awards and Innovation Week which play an important role in holistic development of the startup ecosystem. The Government through stakeholder consultations seeks regulatory and policy related recommendations for enhancing ease of doing business and reducing compliance burden for startup ecosystem. The Government also facilitates participation and engagement of Indian startup ecosystem at international platforms.