Government Strengthens Startup Ecosystem with Robust Initiatives and Funding Support

217 Incubators Selected Under Startup India Scheme with ₹916.91 Crore Approved Funding

The Government with an intent to build a strong ecosystem for nurturing innovation, startups and encouraging investments in the startup ecosystem of the country launched the Startup India initiative on 16th January 2016.

Under the Startup India initiative, incubators from both private sector and academic institutions are supported through the Startup India Seed Fund Scheme (SISFS). The Scheme provides financial assistance to eligible startups through incubators for proof of concept, prototype development, product trials, market entry and commercialization. The Experts Advisory Committee (EAC) of SISFS, evaluates and selects incubators for allocation of funds. SISFS is implemented from 1st April 2021. As on 31st January 2025, 217 incubators have been selected under the Scheme with a total approved funding of Rs. 916.91 crore.

Under the Startup India initiative, the Government constantly undertakes various efforts for the development and growth of startup ecosystem. All steps undertaken under the Startup India initiative are inclusive and support entrepreneurs from disadvantaged backgrounds, and rural and tribal communities.

The flagship Schemes namely, Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS) support Startups at various stages of their business cycle. The Government also implements periodic exercises and programs including States’ Startup Ranking, National Startup Awards, and Innovation Week which play an important role in the holistic development of the startup ecosystem. The Government also encourages and supports ecosystem led initiatives such as Startup Mahakumbh which serve as a vibrant platform for stakeholders to network and collaborate. Initiatives to improve market access and enable public procurement which support startups in growing and scaling up their businesses have also been undertaken. Digital platforms such as the Startup India portal and BHASKAR enable easy access to resources and startup ecosystem collaboration. The Government is also encouraging corporates for supporting startups by way of mentorship, access to infrastructure, sharing resources and knowledge, assistance in market linkages and investor connect. These measures are complemented by regulatory reforms and other ecosystem development events and programs.

This information was given by the Minister of State for the Ministry of Commerce & Industry, Shri Jitin Prasada, in a written reply in the Lok Sabha today.