Startup India Seed Fund Scheme Apply Online – Eligibility, Amount & Contact Number

Startup India Seed Fund Scheme Apply Online. In today’s article, we are going to provide you with important information related to SISF Scheme. Also, Eligibility Criteria, Benefits, Contact Number, and other required details. Moreover, we will also tell you about the initial amount that you can get through this scheme. As for entrepreneurs capital is essential in the early stages of the growth of an enterprise. However, this scheme will provide financial assistance to entrepreneurs in India. So if you also want to take benefit of the scheme please continue reading our article ahead as we have mentioned every single detail regarding India Fund Scheme.

Startup India Seed Fund Scheme (SISFS)

Nowadays the wave of startups has been running all over India. Especially our young generation is really looking forward to starting their own business or startups. But due to the lack of availability of funds, people are unable to start their own businesses. So to resolve this problem, the government of India has launched a Startup India Seed Fund Scheme. With the motive to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialization.

Startup India Seed Fund Scheme Apply Online

This Fund Scheme was launched by Honorable PM Shri Narendra Modi On January 16, 2016. Through this scheme, financial assistance/funds up to Rs, 50 lakh will provide to the startups at the early stage through incubators. The government has allocated a budget of Rs 945 crore for this scheme. Under this scheme, the government is going to provide funds to incubators. The incubator will be responsible for further providing these funds to the startups. Around 3600 entrepreneurs will get benefit from the India seed fund scheme in the next 4 years.

Objectives of SISF Scheme

  1. The main objective of the Startup India Seed Fund is to provide funds to the entrepreneurs for their startups so that they can grow their enterprises.
  2. Startup India seed fund scheme will fulfill the early requirement of capital at the right time.
  3. Through this scheme, entrepreneurs can go to commercial banks and financial institutions in order to get funds for their business idea.
  4. They can simply apply through this scheme and get funds directly from the government.
  5. This scheme will also generate a lot of employment and validate the business ideas of startups.

What is Incubator?

An incubator is a firm that helps to grow a startup from an early-stage idea to a company that can stand on its own. Services provided by incubators include office space, administrative functions, education and mentorship, access to investors and capital, and idea generation.

Through Startup India Seed Fund Scheme (SIFSS) the government is going to provide funds to 300 incubators. However, the incubators can apply online through the official portal of SISFS. After verifying their application the government will grant them the seed fund. The startups can also apply under this scheme directly from the portal and from there they can select the incubators of their choice according to their preference.

Startup India Seed Fund – Key Highlights

Scheme Name  Startup India Seed Fund Scheme (SISFS)
Launched By Government of India
Objective To Provide Funds For Startups
Beneficiary Entrepreneurs
Amount Up to Rs 50 lacs
Total Budget Rs 945 Crore
Number of Beneficiaries 3,600
Official Website https://seedfund.startupindia.gov.in/
Post Category Central Govt. Scheme

Startup India Seed Fund Scheme

Eligibility Criteria for Startup India Seed Fund Portal

For Startups –

  1. The startup should be recognized by DPIIT.
  2. At the time of application, the startup should be incorporated not more than two years ago.
  3. The startup must have business ideas to develop a product or service which will be fit for the market, has the scope of scaling, and viable commercialization.
  4. At the time of application to the incubator for the scheme, the shareholding by the Indian promoter in the startup should be at least 51% or more according to the companies act 2013 and SEBI regulation 2018.
  5. The startup should have not received any support of rupees 10 lakh or more under any Central or government scheme.
  6. Those startups who are creating an innovative solution in water management, waste management, education, agriculture food processing, etc will be given preference.
  7. The startup should be using technology in its core product or service in order to solve the problem which is targeted.

For Incubators –

  1. Firstly, the incubator must be a legal entity.
  2. An incubator must be assisted by the central or state government.
  3. The incubator must be operational for 2 years at the time of application.
  4. The incubator must have the facility to seat at least 25 individuals.
  5. On the date of application, the incubator should have at least 5 startups that should be undergoing incubation physically.
  6. If the incubator is providing funding from any third private entity to the startups then that incubator is ineligible.
  7. If the incubator is not assisted by the central or State Government then the incubator must be operational for at least 10 years.
  8. It must have presented audited annual reports for at least 2 years and at the time of application must have at least 10 separate startups which are undergoing incubation physically.

Important Documents Required

  • Aadhar card
  • GST number
  • Bank account details
  • Lease agreement
  • Detail report of the project
  • Passport size photograph
  • Mobile number

How to Apply Online for Startup India Seed Fund Scheme?

For Incubators –

SISFS Apply Online

  • On the homepage, you have to click on apply now.
  • After that, you have to click on apply now under for incubator section.
  • Now you have to click on create an account.

SISFS apply Online

  • Enter your name, email id, mobile number, password and click on the register.
  • An OTP will send to your registered ID you have to enter this OTP into the OTP box and then click on submit.
  • After that, you have to click on the login option.
  • Now select your country and click on the input letterbox, then click on the next option.
  • Now the Application form will appear before you.
  • Here you have to enter your basic info, contact info, point of contact info, and success stories in this application form.
  • After that, you have to click on save the profile. Now you are profile will send to a moderator for approval.
  • Now you have to again login into the portal. Click on apply under the seed fund scheme.
  • The Application form will appear before you.
  • Enter all the required details in this application form like general detail, incubator team detail, incubator support detail, fund requirement details, etc.
  • At last, you have to upload all the necessary documents and then click on submit button.

For Startups –

  • Firstly, go to the official website of the startup India seed fund scheme.
  • On the homepage, you have to click on apply now.
  • Now you have to click on apply now under the startup section
  • After that application form will appear before you.
  • In this application form have to enter all the required details like your name, email address, mobile number, etc.
  • After that, you have to upload all the required documents.
  • Now you have to click on submit.
  • By following this procedure you can apply as a startup under the startup India seed fund scheme.

Note – If you have any queries related to this Scheme, you can directly contact to the concerned department through email id: [email protected]

Checkout Other Government Schemes

  1. Stand Up India Scheme
  2. PM Ujjwala Yojana List
  3. PM Kisan Status Check
  4. PVC Aadhaar Card Cash On Delivery

 

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