An Integrated Eco-System Platform for Startups and all Eco-System stakeholders.
GOI Funded Over 10000 Tech Startup with 580Cr
In the last five years, the Union government has empowered over 10,000 technology startups through various schemes, as per Jitin Prasada, Minister of State for Electronics & Information Technology. The Centre has provided funding of INR 580 crore to startups through incubators, including over 3,600 tech startups supported by the Ministry of Electronics and Information Technology (MeitY), with a total disbursed funding of INR 212 crore.
Under the Startup India initiative, the government has implemented flagship schemes such as Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS). These schemes have helped startups to raise investments from angel investors or venture capitalists, or seek loans.Prasada also stated that with the help of these schemes, there are over 1.43 lakh startups operating in India that are recognized by the Department for Promotion of Industry and Internal Trade (DPIIT). Additionally, initiatives taken by MeitY include Technology Incubation and Development of Entrepreneurs (TIDE 2.0), Startup Accelerator of MeitY for Product Innovation, Development, and Growth (SAMRIDH), Next Generation Incubation Scheme (NGIS), Domain-specific Centres of Excellence (CoEs), and Theme-based Incubation Centre.