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The Division for Promotion of Trade and Inner Commerce (DPIIT) is within the means of endeavor a 3rd get together evaluation of Startup India Seed Fund Scheme to see its affect on the bottom, a senior authorities official mentioned on Friday.
The Rs 945-crore scheme was launched in 2021. It goals to supply monetary help to startups for proof of idea, prototype growth, product trials, market entry, and commercialization.
The fund was divided into 4 years for offering seed funding to eligible startups by eligible incubators throughout India.
Joint Secretary in DPIIT Shruti Singh mentioned although the division has obtained “good” suggestions from incubators and startups on the scheme, “we’re nonetheless doing a 3rd get together evaluation in order that anyone on floor can go and see”.
Over 85,000 startups have been registered with DPIIT, she advised reporters right here.
Startup India was launched by the federal government on January 16, 2016. Underneath Startup India, to supply capital at numerous levels of the enterprise cycle of a startup, the federal government has applied
Fund of Funds and Startup India Seed Fund schemes.
She additionally mentioned that from the Rs 10,000 crore Fund of Funds scheme, about Rs 7,900 crore has been dedicated to the Alternate Funding Funds to this point.
The division would need to search extra funds from the finance ministry beneath the scheme as soon as it’s exhausted by 2025, she added.
Equally, from the Rs 945 crore Startup India Seed Fund Scheme, Rs 455.25 crore has been authorized to 126 incubators of which Rs 186.15 crore has been disbursed as of November 30.
Singh additionally mentioned the MAARG portal will go reside from January 16. Mentorship, Advisory, Help, Resilience and Progress (MAARG) is a one cease platform to facilitate mentorship for startups throughout various sectors, features, levels, geographies, and backgrounds.
Additional, DPIIT is celebrating January 10-16 as Startup India Innovation Week. Underneath this, numerous seminars and workshops will probably be organised in several components of the nation to additional strengthen the startup ecosystem.
“Startup India Innovation Week 2023 goals to interact startup ecosystem stakeholders throughout the nation throughout January 10-16 and spur the spirit of entrepreneurship and innovation in India,” she added.
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