Government to boost startup ecosystem with SISFS, scheme to be operational from April 1
By MYBRANDBOOK
The Startup India Seed Fund Scheme (SISFS) worth Rs 945 crore will be operational from April 1, 2021, to 2025. Through this the government will boost the ecosystem, providing the crucial capital for young companies.
The Department for Promotion of Industry and Internal Trade (DPIIT) will implement the scheme.
The government in a gazette notification has announced that the scheme will offer financial help to startups that have been recognised by the DPIIT and incorporated not more than two years ago at the time of application. This money will be disbursed through selected incubators across India.
The Startup India Seed Fund Scheme is sector-agnostic and will have a central common application on Startup India portal for startups and incubators on an ongoing basis.
As per the notification, DPIIT will form an Experts Advisory Committee (EAC) and it will be responsible for the overall execution and monitoring of the Startup India Seed Fund Scheme.
The EAC will evaluate and select incubators for the allotment of Seed Funds, monitor progress, and take all necessary measures for efficient utilisation of funds towards the fulfilment of objectives of the scheme.
The government added that preference would be given to startups that are innovating in areas of agriculture, education, food processing, healthcare, social impact, waste management, water management, financial inclusion, biotechnology, energy, mobility, defence, space, railways, oil and gas, textiles, etc.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : NATARAJAN CHANDRASEKARAN
Natarajan Chandrasekaran (Chandra) is the Chairman of Tata Sons, the h...
Icons Of India : PRATIVA MOHAPATRA
Prativa is a transformational leader with an incredible breadth of exp...
Icons Of India : NEERAJ MITTAL
He started his career as an IAS Officer in 1992. He has held various a...
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
RailTel Corporation of India Limited
RailTel is a leading telecommunications infrastructure provider in Ind...
IREDA - Indian Renewable Energy Development Agency Limited
IREDA is a specialized financial institution in India that facilitates...
Indian Tech Talent Excelling The Tech World - Satya Nadella, Chairman & CEO- Microsoft
Satya Nadella, the Chairman and CEO of Microsoft, recently emphasized ...
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
Indian Tech Talent Excelling The Tech World - Dheeraj Pandey, CEO, DevRev
Dheeraj Pandey, Co-founder and CEO at DevRev , has a remarkable journe...