On 5th February 2021, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry approved the Startup India Seed Fund Scheme (SISFS).
This was approved for a period of 4 years starting from 2021-22.
This will be implemented with effect from 1st April 2021.
The SISFS is aimed to support around 3600 startups across India.
It aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.