GoI implemented schemes for allocating funds to startups

Last updated: 10 February 2022

Quick Summary
The Indian government has launched several schemes to support and fund startups across various sectors. The Startup India Seed Fund Scheme, initiated on April 16, 2021, has allocated Rs 945 crore over four years for seed funding. As of December 31, 2021, grants totalling Rs 232.75 crore were approved for 58 incubators, which subsequently funded 146 startups. Details on funding from other government initiatives are not centrally collected.

ALLOCATION OF FUNDS TO STARTUPS

Many Ministries/ Departments of Government of India and State governments have implemented Schemes for funding and supporting startups in different sectors and areas. Details of funding or progress of startups is not centrally maintained.

To provide seed funding to startups through approved incubators across all sectors and areas, the Startup India Seed Fund Scheme was launched by Department for Promotion of Industry & Internal Trade on 16th April, 2021. A grant of Rs. 945 crore has been approved for period of 4 years starting from 2021-22 under the Scheme. As on 31st December, 2021, Rs. 232.75 crore have been approved as grant to 58 incubators, and 146 startups have been funded by such approved incubators.

Government Schemes Fund Startups: Rs 945 Cr Approved

Information about seed funding from other schemes of Ministries/Departments of Government of India or State Governments is not maintained centrally.

This information was given by the Minister of State in the Ministry of Commerce and Industry, Shri Som Parkash, in a written reply in the Lok Sabha today.

FAQ :

The Startup India Seed Fund Scheme is a government initiative launched on April 16, 2021, to provide seed funding to startups through approved incubators across all sectors.

A grant of Rs 945 crore has been approved for the Startup India Seed Fund Scheme for a period of four years, starting from 2021-22.

As of December 31, 2021, Rs 232.75 crore had been approved as grants to 58 incubators, and 146 startups had been funded by these incubators.

No, the government does not centrally maintain details of funding or progress for all startups, nor information about seed funding from other specific ministry or state government schemes.

The details were provided by the Minister of State in the Ministry of Commerce and Industry, Shri Som Parkash, in a written reply in the Lok Sabha.



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