About SISFS

• The Startup India Seed Fund Scheme (SISFS) has been approved for the period of 4 years starting from 2021-22. 
• The Scheme aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. 
• It is implemented with effect from 1st April 2021 with a corpus of Rs. 945 crores.
• As per provisions under SISFS, the Government has constituted an Experts Advisory Committee (EAC) which is responsible for the overall execution and monitoring of the SISFS. 
• The EAC evaluates and selects incubators for funds under the Scheme. These incubators thereon select the startups based on certain parameters outlined in Scheme guidelines. 

Why in News?

• 126 incubators have been approved and these incubators have selected 656 startups under the Scheme as on 30th November 2022. 

reference:

https://pib.gov.in/PressReleasePage.aspx?PRID=1886031