The Indian government's Startup India initiative has launched several schemes to support and promote startups in the country. One such scheme is the Startup India Seed Fund Scheme (SISFS), which aims to provide financial assistance to early-stage startups.

स्टार्टअप इंडिया पहल की एक संचालना है जो भारत में स्थापित होने वाले स्टार्टअप को समर्थन और प्रोत्साहन प्रदान करने के लिए कई योजनाएं शुरू की हैं। इनमें से एक योजना स्टार्टअप इंडिया सीड फंड स्कीम (SISFS) है, जो प्रारंभिक स्तर के स्टार्टअप को वित्तीय सहायता प्रदान करने का लक्ष्य रखती है।

The SISFS was launched in January 2021, and it has already gained a lot of attention from entrepreneurs across the country. In this Blog post, we will discuss everything you need to know about the SISFS and how it can help your startup.

SISFS जनवरी 2021 में शुरू की गई थी, और वह पहले से ही पूरे देश के उद्यमियों की ध्यान आकर्षित कर चुकी है। इस ब्लॉग पोस्ट में, हम SISFS के बारे में सब कुछ चर्चा करेंगे और यह देखेंगे कि आपके स्टार्टअप को इससे कैसे मदद मिल सकती है।




What is the Startup India Seed Fund Scheme (SISFS)?

स्टार्टअप इंडिया सीड फंड स्कीम (SISFS) क्या है?

The SISFS is a financial assistance scheme launched by the Indian government to support early-stage startups. The scheme aims to provide seed funding to startups that are working on innovative ideas and have the potential to become scalable businesses.

Under the SISFS, startups can apply for funding of up to Rs. 20 lakhs. The funds will be disbursed in two tranches, with the first tranche of Rs. 10 lakhs provided upfront and the second tranche provided after the startup has utilized the initial funds and provided proof of utilization.


Who is eligible for the SISFS?

To be eligible for the SISFS, a startup must meet the following criteria:

  1. The startup must be registered in India and incorporated as a private limited company, a limited liability partnership (LLP), or a registered partnership firm.
  2. The startup must have been incorporated within the last two years from the date of application.
  3. The startup must be working on an innovative product or service.
  4. The startup must have a minimum viable product (MVP) developed with proof of concept.
  5. The startup must have a business plan that includes a go-to-market strategy and a revenue model.
  6. The startup must have a team with the necessary skills to execute the business plan.
  7. The startup must not have received any funding from any other government scheme.


How to apply for the SISFS?

Startups can apply for the SISFS through the Startup India portal. The application process is completely online, and startups will need to provide the following information:

  1. Basic information about the startup, such as its name, address, and date of incorporation.
  2. Details about the founders and the management team, including their qualifications, work experience, and roles in the startup.
  3. A brief description of the innovative product or service that the startup is working on.
  4. Proof of concept or minimum viable product.
  5. A detailed business plan that includes a go-to-market strategy and a revenue model.
  6. Financial projections for the next three years.
  7. A declaration that the startup has not received any funding from any other government scheme.

After submitting the application, startups will be evaluated based on their eligibility criteria and the quality of their business plan. The evaluation process may take up to eight weeks, and startups that are selected will be informed through email.


Benefits of the SISFS

The SISFS provides several benefits to startups, including:

  1. Seed funding: Startups can receive up to Rs. 20 lakhs in seed funding, which can be used to develop their product or service and bring it to market.
  2. Access to mentors and experts: Startups selected under the SISFS will have access to a network of mentors and experts who can provide guidance and support in various areas of their business.
  3. Exposure and recognition: Startups selected under the SISFS will be showcased on the Startup India portal and other government platforms, which can help them gain exposure and recognition.
  4. Validation: Being selected under the SISFS is a validation of the startup's business plan and its potential for growth.