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When did the government launch Start-up India Seed Fund Scheme?
2020
2021
2022
2023
2021
The Startup India Seed Fund Scheme (SISFS) was officially implemented by the Government of India on April 1, 2021.
The Startup India Seed Fund Scheme was launched to provide essential financial support to startups during their early stages of growth. It addresses the funding gap in the ecosystem by facilitating capital for proof of concept, prototype development, and product trials. The scheme supports the broader Startup India initiative launched by the Prime Minister in 2016 to transform India into a hub of job creators rather than job seekers. It is managed by an Experts Advisory Committee (EAC) to ensure effective monitoring and fund allocation.
The Startup India initiative is administered by the Department for Promotion of Industry and Internal Trade (DPIIT), which functions under the Ministry of Commerce and Industry. This department is the nodal agency for industrial development and startup ecosystem policies in India.
Implementation Date: April 1, 2021
Scheme Corpus: Rs 945 crore for a four-year period
Financial Assistance: Up to Rs 50 lakh per eligible startup
Implementing Agency: DPIIT, Ministry of Commerce and Industry
B is correct тАФ The Startup India Seed Fund Scheme was implemented with effect from April 1, 2021, to foster startup growth.
Remember that while the Startup India initiative was launched on January 16, 2016, the Seed Fund Scheme (SISFS) was a specific follow-up intervention operationalized in 2021 to provide direct financial aid.
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