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SISFS – Can it be useful to small scaled entrepreneurs?

SISFS? What’s this new slang?

Do you know?

Startup India Seed Fund Scheme (SISFS)
Pic credit: Source

So, here’s a piece of news flowing over everywhere on the internet that our Union Minister for Commerce and Industry, Piyush Goyal has launched the Startup India Seed Fund Scheme (SISFS).

Not everyone understands, why it is important for dreamers who want to be their own boss.

Let’s understand first what a startup actually is?

From the definition itself, A startup is a new and beginner company founded by one or more entrepreneurs to develop or turn a unique product or service and bring it to the market, turning a dream into reality.

Sounds like a dream and easy to imagine right?

But the hard part is the initial investment that a startup requires and almost 95% of them fail due to the non-availability of this investment.

person in blue long sleeve shirt showing right hand
Pic credit: unsplash @markusspiske

The Fund aims to provide and solve the same issue. It provides financial assistance to startups who can provide and justify their proof of concept, prototype development, product trials, market-entry, and commercialization.

An amount of almost INR 945 Cr Startup India Seed Fund scheme is to be released to support domestic innovation and help Indian entrepreneurs raise critical capital at an early stage as said above.

The  corpus will be divided over the next 4 years for providing seed funding to eligible startups through eligible incubators across India. The amount will be disbursed through select startup incubators between 2021-25, the scheme doesn’t require physical incubation and allows startups to apply to the incubators simultaneously.

The scheme is expected to support an estimated 3,600 startups through 300 incubators, giving hopes and strong foundational support to new and amateur entrepreneurs.

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Speaking on the occasion, Mr. Goyal said that the SISFS will Secure seed funding, Inspiring innovation, Supporting transformative ideas, Facilitating implementation, and definitely Start a startup revolution.

He said that this Scheme will create a robust startup ecosystem, particularly in Tier 2 and Tier 3 towns of India, which are often deprived of adequate funding. 

The Minister also emphasized that he would like to especially encourage innovators from rural areas to come forward in this initiative and benefit from this scheme.

The call for incubators has already opened and the process been started, whereas that for the startup would likely open on July 1, 2021

This scheme will support domestic innovation and help Indian entrepreneurs raise critical capital at an early stage.

The startups involved in creating innovative solutions in sectors such as social impact, waste management, water management, financial inclusion, education, agriculture, food processing, biotechnology, healthcare, energy, mobility, defense, space, railways, oil and gas, textiles, etc, would be given preference as per the source.

It is a good opportunity for all those who are looking for ways to start their own business and do not have enough fund to make it happen.

If you like to know more about it, click here.

Although I am a copywriter and work for clients, it is still my business which is running and giving me the opportunities. For me, I do not required a huge sum of amount to start my business, but you might Do, depending on your idea’s requirements.

But there are many and lots of people, who need finance and it can help them

That’s why I decided to write this blog and share with you.

Anyone of you who has dreams should not be wasted just because they do not had enough resources.

boy on ladder under blue sky
Pic credit: unsplash @armand_khoury

Anyone of you who has dreams should not be wasted just because they do not had enough resources.

If you need any help or need to collaborate with me, in vision of your startup journey, do not fear reaching out to me.

Although, SISFS might be your one of the options, it is not the only one option for you.

You have many other ways, so always look for them.

Read out to know about copywriting and writing world and put your step forward.

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