Piyush Goyal launches Startup India Seed Fund Scheme
- Union Minister for Commerce and Industry, Piyush Goyal launched the Startup India Seed Fund Scheme (SISFS).
- The Fund aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.
- An amount of 945 crore rupees corpus will be divided over the next 4 years for providing seed funding to eligible startups through eligible incubators across India.
- The scheme is expected to support an estimated 3,600 startups through 300 incubators.
Source : AIR
Related General Knowledge
Ministry for Commerce and Industry
- The Ministry of Commerce and Industry administers two departments, the Department of Commerce and the Department for Promotion of Industry & Internal Trade.
- The head of the Ministry is a Minister of Cabinet rank.
- Departments: Department for Promotion of Industry and Internal Trade
- Headquarters: New Delhi
- Jurisdiction: India
- Officeholders: Piyush Goyal (Minister)