An Initiative To Spur Entrepreneurship Across India
Startup India and Invest India selected Atal Incubation Centre- BIMTECH for the Startup India Seed Fund Scheme. Under this scheme, AIC-BIMTECH has been allocated 5 crores for financial assistance to early-stage startups.
The Startup India Seed Fund Scheme, launched by the Department for Promotion of Industry and Internal Trade (DPIIT) with an Rs. 945 Crore outlay, aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market-entry, and commercialization. It is expected to aid in the development of a robust startup ecosystem in Tier 2 and 3 regions, as the startups in the smaller towns in India are often not provided with appropriate funding.