Good News government started a new scheme for startup
Hemlata Khandelwal / 2021-04-21 01:15:58
The DPI has constituted an Expert Advisory Committee (EAC) to pursue and monitor the Start-up India Seed Fund Scheme. The EAC will first select the incubator, which will be given a support amount of up to Rs 5 crore.
The government announced the Start-up India Seed Fund Scheme on Monday. The fund was announced by Railway and Industry Minister PiyushGoyal. The purpose of this fund is to provide uninterrupted funding from the government to start new start-ups in the country. With the help of this fund, people will be able to start their start-up. Starting a start-up helps in creating new prototypes, trailing your product, launching your company in the market, and doing business with it.
The seed fund scheme was announced by Prime Minister Narendra Modi on January 16, 2021, to commemorate the completion of 5 years of the Start-up India initiative. The Prime Minister announced this at the 'Start: Start-up India International Summit'. 945 rupees will be given to start-ups across the country through this scheme. This amount will be distributed in the next 4 years. To implement this scheme, 300 incubators will be made and about 3600 start-ups of the country will be supported. The amount will be given by the government to the start-ups who will be eligible. The government has set some criteria for this.
The Prime Minster announced
The scheme was started within three months when it was announced by the Prime Minister. In Corona, it has been started amid the messy state of the economy so that people can take help and strengthen the business environment. This step is considered to be the most effective for strengthening the start-up in the country because people have a lot of business ideas but due to lack of money, they are unable to work on them. With the help of this funding, new people will enter the world of start-ups.
Innovation will get a boost
With the help of this fund, the government is preparing to start a start-up revolution in the country. Funds will be used to promote innovation, support the idea and implement it for business. Most of the funds will be used in two-tier and three-tier cities of the country as the government has a special focus on these cities. Developing these cities is the priority of the government. Such cities do not have their resources and are deprived of the rest of the funds. Also, the innovators of rural areas will be able to start their businesses with the help of this fund.
More focus on employment
In this direction, DPIIT has done a lot of work and constantly releases new ideas to promote startups. The focus of the government is more on whether people should work on providing more jobs or employment than getting jobs so that more people can get help from it. To provide employment some work has to be started and this will be done only when government funds are easily available. Because of this demand, a complete base of start-ups is being prepared in the country.
You can start some business by taking these lincense:
These all are the basic needs to open/start a business in different sectors.
How will you be able to apply
DPIIT has created a special portal for this where people will be able to apply for start-up funds. The first incubator has been allowed to apply for the fund. The DPIIT has constituted an Expert Advisory Committee (EAC) to pursue and monitor the Start-up India Seed Fund Scheme. The EAC will first select the incubator, which will be given a support amount of up to Rs 5 crore.
Selected incubators will be given an amount of up to Rs 20 lakh based on the idea of their start-ups, developing their prototype or product trial. If a company enters the market on its own, resorts to debentures or loans to increase business, then for such start-ups, the government will give 50 lakh rupees. It is explained in detail on the Start-up India portal. With the help of this fund, 300 incubators will be enabled in every part of the country. This scheme will get more benefit in small cities of India.