Startup India Seed Fund Scheme 2022 Registration | How to apply to Startup India Seed Fund Scheme online, check from here and login to the official website and fill out the application form
The registration forms for Startup India Seed Fund Scheme 2022 are being invited at seedfund.startupindia.gov.in. This scheme is administered by the central government. Financial assistance will be provided to startups for the development of a proof-of-concept, prototyping, product testing, market penetration, and commercialization. This article explains how to apply online as an incubator or startup under SISFS.
As part of the Union Budget 2022, the central government provides financial assistance to startups through the Startup India Seed Fund Scheme, which is allocated Rs 283.5 crore. The allocation of Rs 100 crore is higher than the revised estimate. Several financial assistance programs will be available to help start-ups develop proofs-of-concept, prototypes, test products, enter markets and commercialize products.
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Startup India Seed Fund Scheme 2022
For entrepreneurs, easy availability of capital can be a critical consideration in order to grow their enterprise. There are many business ideas that do not come into existence due to a lack of capital. So to stop this matter, the Government of India has started Startup India Seed Fund Scheme. Through this scheme, the government provides financial assistance to entrepreneurs.
Through this article, we are providing you complete information about this Scheme like what is Startup India Seed Fund Scheme? Its benefits, purpose, features, eligibility criteria, documents required, the application process, etc. So if you are interested to get every single detail about this scheme then you must read this lesson very carefully till the end.
Highlights Of Startup India Seed Fund Scheme
| Scheme | Startup India Seed Fund Scheme 2022 |
| Launched By | Central government |
| Beneficiary | Entrepreneurs |
| Objective | Providing funds for new startups |
| Official Website | seedfund.startupindia.gov.in |
| Assistance Amount | up to Rs 50 lakh |
| Budget | Rs 945 Crore |
Objective of Startup India Seed Fund
The main objective of the Startup India Seed Fund is to enable entrepreneurs to generate funds for their startups so that they can grow their enterprises. Through this scheme, entrepreneurs are now required to visit banks and financial institutions to generate funds for their business idea. They will simply apply through this scheme and get the money directly from the government. this Scheme will meet the first requirement of capital in due time. So development, testing, market penetration, etc can happen at an appropriate time. This scheme will generate a lot of jobs and validate the business ideas of startups
Key Features of the Scheme
- Incubators and startups are invited to apply throughout the year
- sector-agnostic
- There is no need for physical incubation
- A pan-India startup program
- Up to three incubators can be implemented simultaneously by the startup
Kaushal Panjee – Skill registration online
Benefits of Startup India Seed Fund Scheme
- The government of India has started Startup India Seed Fund Scheme 2022 to create a startup ecosystem.
- This scheme was launched on 16th January 2016 to provide opportunities to entrepreneurs to develop their enterprise
- The announcement of starting this scheme was made by our Honorable Prime Minister Shri Narendra Modi.
- Under this scheme, startups will be provided financial assistance of up to Rs 50 lakh through incubators in the initial phase.
- The government has allocated a budget of Rs 945 crore for this scheme.
- This fund will not be used for proof of concept, prototype development, product testing, market penetration, commercialization, etc.
- The government goes to fund the incubators and hence the incubators are responsible for providing this fund to the startups.
- 3600 entrepreneurs will get the benefit of this scheme within the next 4 years through 300 incubators
Startup India Seed Fund Scheme Eligibility Criteria
For Startups:
- Startups should be recognized by DPIIT
- At the time of application, the startup should not have been incorporated more than two years ago
- To initially develop a product or service must have a business idea that is acceptable to the market, has scope for scaling, and has viable commercialization
- At the time of application for the incubator for the scheme, the shareholding by the Indian promoter within the startup should be at least 51% or more in line with the Business Act 2013 and SEBI Regulation 2018.
- The startup should not get any support of Rs 10 lakh or more under any central or government scheme
- Preference is given to startups creating an innovative solutions in water management, waste management, education, agro-food processing, etc.
- Startups should use technology in their core product or service to solve the target issue
For Incubators:
- Incubator must be a legal entity
- An incubator should be assisted by the central or government
- The incubator must be operational for two years at the time of application
- The incubator should have a seating capacity of at least 25 persons
- As of the date of application, the incubator must have at least 5 startups that are physically undergoing incubation
- A full-time Chief Military Officer who must have experience in business development and entrepreneurship must be presented within the incubator which should be supported by a competent team.
- If the incubator is providing funds to the incubators from any third private institution then that incubator is ineligible
- If the incubator is not assisted by central authorities, the incubator must be operational for at least 10 years, must submit audited annual reports for at least 2 years, and must have at least 10 separate- Must be a separate startup. who is physically undergoing incubation
Startup India Seed Fund Scheme Required Documents
- Aadhar card
- GST number
- bank account
- lease agreement
- mobile number
- Email ID
- Detailed Project Report
- passport size photo
The process to apply for Startup India Seed Fund Scheme
For Startups:
- Visit the official website of the scheme
- The home page will open in front of you
- On the homepage, you have to click on Apply Now
- After that, you need to click on Apply Now under Startup section
- After that the form will appear in front of you
- All the specified details like your name, email address, mobile number, etc. have to be entered in this form
- After that, you have to upload all the specified documents
- Now you have to click on submit
- By following this process you will be able to apply as a startup under this Scheme
For Incubators
- Firstly visit the official website of Startup India Seed Fund Scheme
- Now the home page will open in front of you
- On the homepage you have to click on Apply Now link
- After that, you need to click on Apply Now under the Incubator section
- Now you have to click on Create an account
- A new page will appear in front of you
- On this new page, you have to enter your name, email id, mobile number and password
- After that, you have to click on the register
- An OTP will be sent to your registered ID
- You have to enter this OTP in the OTP box
- Now you have to click on submit
- After that, you have to click on the login option
- Now you have to select your country and click on the input letterbox
- Now you have to click on the next option
- The application form will appear in front of you
- During this form, you will need to enter your basic information, contact information, contact information, and success stories
- After that, you have to click on save profile
- You will now send the profile to the moderator for approval
- You have to log in to the portal again
- Now you have to click on Apply Now under Seed Fund Scheme
- The application form will appear in front of you
- You have to enter all the desired details during this form like general details, incubator team details, incubator support details, fund requirement details, etc.
- After that, you have to upload all the required documents
- Now you have to click on submit
- By following this procedure you will apply under Startup India Seed Fund Scheme
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