Startup India Seed Fund Scheme:- For entrepreneurs, easy access to financing is a key factor in growing their business. Many business ideas never exist due to lack of money. Therefore, to solve this problem, the Indian government launched the Indian Startup Seed Funding Scheme. Through this scheme, the government provides financial assistance to entrepreneurs.
Today, through this article, we will introduce you to this topic like how to start a seed funding program in India. Its advantages, objectives, features, admission criteria, required documents, application process, etc. So, if you want to download anything related to this system, then you should read this article carefully till the end.
About Startup India Seed Fund Scheme
In order to create a sustainable environment, the Government of India launched the India Startup Seed Fund Scheme on January 16, 2016 to provide entrepreneurs with opportunities to grow their businesses. Our Prime Minister Narendra Modi announced the launch of this project. Through this scheme, the incubator will provide financial assistance up to Rs 50 lakh to early stage startups.
The government has allocated Rs 945 crore for the project. The fund uses proof of concept, prototype development, product testing, market entry and marketing. Under this scheme, the government provides grants to trainers. The incubator is responsible for disbursing these funds to the founders. Over the next four years, 3,600 entrepreneurs across 300 incubators in India will benefit from the seed funding scheme.
Startup India Seed Fund Scheme(Highlights)
| Name Of The Scheme | Startup India Seed Fund Scheme |
| Launched By | Government Of India |
| Beneficiary | Entrepreneurs |
| Objective | To Provide Funds For Startup |
| Official Website | https://seedfund.startupindia.gov.in/ |
| Year | 2023 |
| Financial Assistance | Up To Rs 50 Lakh |
| Total Budget | Rs 945 Crore |
| Number Of Beneficiaries | 3600 |
Startup India Seed Fund Scheme(Objectives)
The main objective of Startup India Seed Fund is to provide startup capital to entrepreneurs. Therefore, entrepreneurs now have to go to banks and financial institutions to obtain financing for their businesses. They can only register through this system and receive funding from the government. Startup India’s seed funding program met initial capital requirements in a timely manner. Therefore, product development, testing, sales, etc. are all completed in real time. The system also provides additional services to verify the original business philosophy.
Startup India Seed Fund Scheme(Features&Benefits)
- The Government of India has launched the India Startup Seed Fund Scheme 2023 to build the entrepreneurial ecosystem
- The scheme was launched on January 16, 2016 to provide entrepreneurs with an opportunity to grow their businesses
- Our Hon’ble Prime Minister announced the launch of the project. gentlemen Narendra Modi ji.
- Under the scheme, financial assistance of up to Rs 50 lakh will be provided to early adopters through incubators.
- The government has allocated Rs 945 crore for the scheme.
- This fund will not be used.
- The government will give money to entrepreneurs who will be responsible for sending this money to business founders 3600 through 300 incubators that will benefit from it. Over the next 4 years, the plan
Startup India Seed Fund Scheme(Implementation)
The Ministry of Industrial Development and Internal Trade has set up an Expert Advisory Committee (EAC) to formulate, implement and monitor India’s seed funding programme. The Ministry of Industrial Development and Domestic Trade is the implementing agency of the programme. This committee reviews all submissions and selects incubators to participate in seed funding. The committee will also oversee the progress of the incubator. The Expert Advisory Committee has the authority to make all arrangements for the reasonable use of funds. The Expert Advisory Committee consists of the following members:-
- Chairman
- Representative of the department of biotechnology
- Additional secretary/joint secretary/director/deputy secretary, DPIIT
- Representative of the Department of science and technology
- Financial advisor, DPIIT
- Representative of the ministry of electronics and information technology
- Representatives of the Indian council of agricultural research
- At least three members nominated by the secretary
- Representative of NITI aayog
Startup India Seed Fund Scheme(Monitoring)
An expert advisory committee will review the status of seed funding in India for selected startups and engineers. Under the Target Review Plan, the incubator must submit a report based on the recommendations of an expert advisory committee. If the incubator does not go as planned, the advisory board has the authority to withhold support from the seed fund. If the incubator uses the funds for other purposes, the incubator will be deleted.
Factors Of Startup India Seed Fund Scheme
- Progress of market launch
- Quantum of loan
- Progress of field trial
- Jobs created by startup
- Progress of product development
- Turnover of startup
- Progress of prototype development
- Progress of proof of concept
(Utilisation Of Finance And Accounting)Startup India Seed Fund Scheme
When launching a seed funding program in India, the incubator must maintain proper utilization of funds and the incubator must maintain records of funds received. This record is maintained in a trust account associated with the project and associated with certain authorized banks. Funds under the India Seed Funding Program are disbursed into the incubator’s bank account in three or more installments as per the guidelines of the program. If you get a refund from the beginning, you can use it to increase the amount. This amount will be returned to DPIIT if no other funds are available. Each incubator must show amounts received, amounts received and amounts paid out for each financial year. In addition, the incubator also needs to provide a fund usage report in the amount of.
Startup India Seed Fund Scheme(Eligibility)
- Initiation must be notified by DPIIT
- When applying, initiation must be entered within the previous two years. Incubator, can be purchased.
- At the time of application for project incubator, Indian promoters hold at least 51% or more stake in the startup as per Companies Rules 2013 and SEBI Rules 2018
- Not receiving any support under any central or state scheme
- Start-ups are involved in developing technology solutions in water management, waste management, education, agri-food processing and more.
Startup India Seed Fund Scheme(Documents)
- Aadhar card
- GST number
- Bank account details
- Lease agreement
- Detail report of the project
- Passport size photograph
- Mobile number
Startup India Seed Fund Scheme(How To Apply)
- First of all, go to the official website of India Seed Grant Program
- The home page will open in front of you
- On the home page you have to click on Apply Now
- After that you have to click on the Apply Now hood below.
- Now you must click to create an account Chapter
- A new page will appear in front of you
- On this new page you have to enter your name, email address, mobile number and password
- After that you have to click on register
- OTP will be sent to your registered ID
- you have to enter to OTP from this OTP.
- 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 email
- Now you have to click on the next option
- The application form appears in front of you
- You have to enter in the application form your information, contact information, contact address and success information
- After that you have to click on save profile
- Now your information will be sent to the manager for approval.
- You must log in to the portal again.
- Now you must click “Register Now” under the Seed Bank system.
- The application form will appear in front of you.
- You must fill in all the information required for the application in this form. ,such as information and incubators. Team information, incubator support information, funding information, etc.
- After that, you must submit all documents
For Startups
- Go to the official website of startup India seed fund scheme
- The home page will open before you
- On the homepage, you have to click on apply now
- After that, 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
Procedure To Login On The Portal
- Go to the official websiteof startup India seed fund scheme
- The home page will open before you
- Now you have to click on the login
- After that you have to choose your category which is are as follows:-
- Incubator/startup
- DPIIT/EAC
- Now you have to enter your username and password
- After that, you have to click on the login
- By following this procedure you can log in to the portal
Startup India Seed Fund Scheme(How To Contact)
- First of all, go to the official website of the startup India seed fund scheme
- The home page will open before you
- Now you have to click on the contact
- A new page will appear before you
- Enter the following details on this new page:-
- Entity type
- Name of the entity
- Name
- Email ID
- Location
- Query type
- Message
- After that you have to click on submit
HOME PAGE:- CLICK HERE
OFFICIAL WEBSITE:- CLICK HERE