New Delhi, November 29 (IANS). The central government is promoting the startup ecosystem to promote self-employment in the country. For this, the government is also providing funds through Startup India Seed Fund Scheme (SISFS).
The objective of the government behind launching SISFS Fund is to provide capital support to the startups, so that the startups have sufficient funds to develop their product in the initial stage. For this scheme, funds up to Rs 50 lakh are given to startups in the form of loan and its interest is 5 percent.
If you are also running an innovative startup, you can raise funds through SISFS.
Process of raising funds through SISFS:-
First of all you have to register your startup with the government.
For this, you will have to go to Startup India website and fill the registration form and submit it.
Now you have to wait for the DPIIT certificate. This may take up to a few months. (Without this certificate you cannot apply for SISFS.)
After getting the certificate, you will have to link your Startup India account to Seed Fund India.
After this the SISFS form will have to be filled.
Now you have to select three incubators listed on the website.
Your application must be accepted by one of these incubators.
Now go to the incubator and tell them about your project and explain your vision.
The incubator has full potential as to how much of the Rs 50 lakh it gives you.
While choosing an incubator in SISFS, some things should be kept in mind, like the incubator should be in your vicinity. Along with this, he should invest in the areas in which your startup is located. Also, keep your business idea clear and tell the incubator how this fund will help you move forward.
–IANS
ABS/ABM
