New Delhi, Feb. 9 -- The Startup India Seed Fund Scheme (SISFS) provides financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization through eligible incubators, a press release from the Ministry of Commerce and Industry stated.

As per provisions under the SISFS, the Experts Advisory Committee (EAC) evaluates and selects incubators for allocation off undsunder the Scheme. The approved incubators shortlist the startups in accordance with the guidelines of the Scheme. The Scheme has been operationalized from April 1, 2021.

As on December 31, 2023, 198 incubators have been selected under the Scheme with a total approved funding of Rs 802.98 crore. The State or Union Terri...