|Apply Online| Startup India Seed Fund Scheme 2021: Eligibility & Benefits

|Apply Online| Startup India Seed Fund Scheme 2021: Eligibility & Benefits

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Short Info: [Apply Online] Startup India Seed Fund Scheme (SISFS) 2021 Ministry UPSC PIB – Online Registration, Application Form PDF Download, Eligibility, Beneficiary List, Payment/ Amount Status, Features, Benefits and Check Online Application Status at Official Website seedfund.startupindia.gov.in. स्टार्टअप इंडिया सीड फंड स्कीम ऑनलाइन आवेदन, रजिस्ट्रेशन फॉर्म, उद्देश्य, पात्रता, लाभ.

Short Scheme Details:
Name of Scheme Startup India Seed Fund Scheme
Application Status Active
Scheme Benefit To Provide Financial Assistance Up To Rs 50 Lakh
Scheme Published On 06/20/2021
Scheme Updated on 06/20/2021

Table of Content

स्टार्टअप इंडिया सीड फण्ड स्कीम 2021: Startup India Seed Fund Scheme Amount, Status News Update

Latest News Update: Startup India Seed Fund Scheme Guidelines, Amount, UPSC
DPIIT has constituted an Expert Advisory Committee (EAC) to take forward and monitor the Startup India Seed Fund scheme. The EAC will first select the incubator, which will be given an assistance amount of up to Rs 5 crore.

Startup India Seed Fund Scheme 2021 Apply Online @seedfund.startupindia.gov.in

Summary: The Startup India Seed Fund Scheme (SISFS) was launched by Piyush Goyal, Minister of Railways, Commerce & Industry and Consumer Affairs, Food and Public Distribution. The scheme will come into effect from April 1, 2021. A total corpus of Rs 945 crore will be divided over the next four years to provide initial equity capital to eligible startups through eligible incubators across the country.

The Department for Promotion of Industry and Internal Trade (DPIIT) has launched the scheme to address the problem of funding for startups. The scheme aims to provide startups with financial assistance at their early stages such as proof of concept, prototyping, product trials, market entry and commercialization.

With the help of this fund, people will be able to start their own startup. Starting a startup helps in creating new prototypes, testing your product, launching your company in the market and doing business with it.

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All Applicants who are willing to apply online application then download the official notification and read all eligibility criteria and application process carefully. We will provide short information about “Startup India Seed Fund Scheme 2021” like Scheme Benefit, Eligibility Criteria, Key Features of Scheme, Application Status, Application process and more.

Startup India Seed Fund Scheme 2021 – Overview
Name of Scheme Startup India Seed Fund Scheme (SISFS)
in Language स्टार्टअप इंडिया सीड फण्ड स्कीम
Launched by Government Of India
Name of Department Department for Promotion of Industry and Internal Trade (DPIIT)
Beneficiaries Entrepreneurs
Financial Assistance Up To Rs 50 Lakh
Total Budget Rs 945 Crore
Number Of Beneficiaries 3600
Scheme Objective  To provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialization.
Scheme under Central Government
Name of State All India
Post Category Scheme/ Yojana/ Yojna
Official Website seedfund.startupindia.gov.in
Important Dates
Event Dates
Starting Date to Apply Online – For Startups The Startup application will open on1st July 2021
Last Date to Apply Online
Important Links
Event Links
Apply Online Registration Login
Notification – Guidelines Click Here
startup india seed fund scheme (sisfs) PIB Reference Click Here
Startup India Seed Fund Scheme 2021 Official Website

Startup India Seed Fund Scheme Online Registration Process

The government’s announced Seed Fund Scheme for new age firms will ensure adequate availability of funds, especially for startups with good ideas across various fields. This scheme will play a vital role in building a strong startup environment especially in Tier 2 and Tier 3 tier cities of the country , where startups operating are often deprived of the necessary financial support.

DPIIT has created a special portal for this where people will be able to apply for Startup Fund. The first incubator has been allowed to apply for the fund. DPIIT has constituted an Expert Advisory Committee (EAC) to take forward and monitor the Startup India Seed Fund scheme. The EAC will first select the incubator, which will be given an assistance amount of up to Rs 5 crore.

All Eligible Applicants who want to apply to this scheme then read all instructions carefully and follow the given below steps to apply online application form:

How to apply online for Startup India Seed Fund Application Form 2021

For Incubators

Step 1- Visit the Official Website of Startup India Seed Fund Scheme i.e. seedfund.startupindia.gov.in.

Step 2- On the Homepage, Click on the Option “Apply Now” link under the menu option.

Step 3- After that, you have to click on apply now under for incubator section and click on create an account

Step 4- The Registration Form page will be displayed on the screen.

Step 4- Now, you have to enter your name, email id, mobile number, and password

Step 5- After that, you have to click on the register button and An OTP will send to your registered ID

Step 6- You have to enter this OTP into the OTP box and click on submit button. It will redirect to Startup India Portal.

Step 7- After that, you have to click on the login option

Step 8- Enter your Username and Password. Click on Login After the Robot Verification. It will redirect you to StartUp India Persona Page.

Step 9- Select the Country and Click on the Incubator Box. Click Next Button below which will redirected you to incubator details form.

Step 10- The Application form will appear on the screen.

Step 11- You have to enter your basic info, contact info, point of contact info, and success stories in this application form

Step 12- After that, you have to click on save profile

Step 13- Now you are profile will send to a moderator for approval

Step 14- You have to again login on to the portal

Step 15- Now you have to click on apply now under the seed fund scheme

Step 16- The Application form will be displayed on the screen.

Step 17- You have to enter all the required details in this application form like general detail, incubator team detail, incubator support detail, fund requirement details, etc

Step 18- After that, you have to upload all the necessary documents

Step 19- Now you have to click on submit

Step 20- By following this procedure you can apply under the startup India seed funds scheme

For Startups

Step 1- Visit the Official Website of Startup India Seed Fund Scheme i.e. seedfund.startupindia.gov.in.

Step 2- On the Homepage, Click on the Option “Apply Now” link under the menu option.

Step 3- After that, you have to click on apply now under for startup section and click on create an account

Step 4- The Registration Form page will be displayed on the screen.

Step 4- Now, you have to enter your name, email id, mobile number, and password

Step 5- After that, you have to click on the register button and An OTP will send to your registered ID

Step 6- You have to enter this OTP into the OTP box and click on submit button. It will redirect to Startup India Portal.

Step 7- After that, you have to click on the login option

By following this procedure you can apply as a startup under the startup India seed fund scheme

Procedure To Login On The Portal

Step 1- Visit the Official Website of Startup India Seed Fund Scheme i.e. seedfund.startupindia.gov.in.

Step 2- On the Homepage, Click on the Option “login” link under the menu option.

Step 3- After that you have to choose your category which is are as follows:-

Step 4- Now you have to enter your username and password

Step 5- After that, you have to click on the login

By following this procedure you can log in to the portal

Contact Us

Step 1- First of all, go to the official website of the startup India seed fund scheme

Step 2- On the Homepage, Now you have to click on the contact

Step 3- A Login page will appear on the screen.

Step 4- Enter the following details on this new page:

  • Entity type
  • Name of the entity
  • Name
  • Email ID
  • Location
  • Query type
  • Message

Step 5- After that you have to click on submit

Required Document for Startup India Seed Fund Scheme

Important Document to Apply Online
  • Aadhar card
  • GST number
  • Bank account details
  • Lease agreement
  • Detail report of the project
  • Passport size photograph
  • Mobile number

Startup India Seed Fund Scheme Eligibility Criteria

Guidelines for Startup India Seed Fund Scheme

For Startups:

  1. A startup, recognized by DPIIT, incorporated not more than 2 years ago at the time of application.
  2. The startup must have a business idea to develop a product or a service with a market fit, viable commercialization, and scope of scaling.
  3. The startup should be using technology in its core product or service, or business model, or distribution model, or methodology to solve the problem being targeted.
  4. Preference would be given to startups creating innovative solutions in sectors such as social impact, waste management, water management, financial inclusion, education, agriculture, food processing, biotechnology, healthcare, energy, mobility, defence, space, railways, oil and gas, textiles, etc.
  5. Startup should not have received more than Rs 10 lakh of monetary support under any other Central or State Government scheme. This does not include prize money from competitions and grand challenges, subsidized working space, founder monthly allowance, access to labs, or access to prototyping facility.
  6. Shareholding by Indian promoters in the startup should be at least 51% at the time of application to the incubator for the scheme, as per Companies Act, 2013 and SEBI (ICDR) Regulations, 2018.
  7. A startup applicant can avail seed support in the form of grant and debt/convertible debentures each once as per the guidelines of the scheme.

For Incubators:

  1. The incubator must be a legal entity:
    – A society registered under the Societies Registration Act 1860, or
    – A Trust registered under the Indian Trusts Act 1882, or
    – A Private Limited company registered under the Companies Act 1956 or the Companies Act 2013, or
    – A statutory body created through an Act of the legislature
  2. The incubator should be operational for at least two years on the date of application to the scheme
  3. The incubator must have facilities to seat at least 25 individuals
  4. The incubator must have at least 5 startups undergoing incubation physically on the date of application
  5. The incubator must have a full-time Chief Executive Officer, experienced in business development and entrepreneurship, supported by a capable team responsible for mentoring startups in testing and validating ideas, as well as in finance, legal, and human resources functions
  6. The incubator should not be disbursing seed fund to incubatees using funding from any third-party private entity
  7. The incubator must have been assisted by the Central/State Government(s)
  8. In case the incubator has not been assisted by the Central or State Government(s):
    – The incubator must be operational for at least three years
    – Must have at least 10 separate startups undergoing incubation in the incubator physically on the date of application
    – Must present audited annual reports for the last 2 years
  9. Any additional criteria as may be decided by the Experts Advisory Committee (EAC)

Startup India Seed Fund Scheme 2021: Online Application Form

ABOUT SCHEME
Startup India Seed Fund Scheme 2021: Online Application Form PDF Download – The Startup India Seed Fund scheme was announced by Prime Minister Narendra Modi in January. It aims to offer financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. Over the next four years, Rs 945 crore corpus will provide seed funding to eligible startups through incubators.

The scheme was announced by Prime Minister Narendra Modi at the grand address of ‘Srambhav: Startup India International Summit’ organized on January 16, 2021 to mark the completion of 5 years of the Startup India initiative. 

The action plan of this initiative focuses on the following three areas:

    • Simplification and Handholding.
    • Funding Support and Incentives.
    • Industry-Academia Partnership and Incubation.

The scheme has been approved for a period of four years, starting 2021-22 and is expected to support about 3,600 startups.

Features Of Startup India Seed Fund Scheme

  • Year-round ‘Call for Applications’ for Incubators and Startups
  • Sector-agnostic
  • No mandatory physical incubation
  • PAN-India startup programme
  • Startups can apply to 3 incubators simultaneously

Implementation Of Startup India Seed Fund Scheme: Process of the SISFS

Department for Promotion of Industry and Internal Trade (DPIIT) has created an Experts Advisory Committee (EAC) to execute and monitor the Startup India Seed Fund Scheme. The EAC will select eligible incubators who will be provided grants of upto Rs 5 Crores each. In turn, the selected incubators will provide startups with up to Rs 20 lakhs for validation of Proof of Concept, prototype development, product trials to startups.

The expert advisory committee consists of the following members:-

  • Chairman
  • Representative of department of biotechnology
  • Additional secretary/joint secretary/director/deputy secretary, DPIIT
  • Representative of Department of science and technology
  • Financial advisor, DPIIT
  • Representative of ministry of electronics and information technology
  • Representatives of Indian council of agricultural research
  • At least three members nominated by secretary
  • Representative of NITI aayog

Monitoring Of Startup India Seed Fund Scheme

The selected incubators will be given an amount of up to Rs 20 lakh on the basis of their startup idea, prototype development or product trial. If a company enters the market on its own, takes debentures or loans to increase business, then the government will give 50 lakh rupees for such startups. This has been explained in detail on Startup India portal www.startupindia.gov.in. With the help of this fund, 300 incubators will be enabled in every part of the country. The small cities of India will get more benefit of this scheme.

Factors Determining The Successful Implementation 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

Objectives of Startup India Seed Fund Scheme 2021

SCHEME OBJECTIVE
Startup India Seed Fund Scheme (SISFS) aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.

This would enable these startups to graduate to a level where they will be able to raise investments from angel investors or venture capitalists or seek loans from commercial banks or financial institutions.

Major Benefits

BENEFICIARY BENEFITS
  • An amount of 945 crores will be apportioned over the next 4 years to provide seed funding to eligible startups through eligible incubators across India.
  • This SISFS scheme will work towards seed funding, innovation promotion, supporting transformational ideas, facilitating implementation and ushering in the startup revolution.
  •  A grant of up to Rs 5 crore will be provided to the incubators selected by the EAC.

Key Features of Scheme

SCHEME FEATURES
  • The Government of India have launched Startup India Seed Fund Scheme 2021 in order to build a Startup ecosystem
    This scheme was launched on 16 January 2016 in order to provide opportunities to entrepreneurs to grow their enterprise
  • A startup, recognized by DPIIT, incorporated not more than 2 years ago at the time of application.
  • Startups should not have received more than Rs. 10 lakh of monetary support under any other Central or State Government scheme.
  • A strong startup ecosystem will be created, especially in the two-tier and three-tier cities of India.
  • Under the online portal created by DPIIT for this scheme, incubators will be allowed to apply for receiving funds for this. To execute and monitor the Startup India Seed Fund scheme, an Expert Advisory Committee (EAC) has been constituted by DPIIT.

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