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Government Funding for Startups in India List

By Team VS
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Government Funding for Startups in India

India is going through the era of startups, where the country is creating a robust ecosystem for businesses and entrepreneurs. India is currently experiencing a surge in 'Startup building a strong ecosystem for businesses and entrepreneurs. With over 99,000 startups, and 107 unicorns valued at $30 billion. Prime Minister Narendra Modi has launched numerous initiatives to support the emerging entrepreneurs. 

The government initiatives are designed to offer technical support, subsidies, financial assistance, and various other services to help startups grow and make a name in the global business world. This support helps startups get noticed worldwide as well attract some foreign investors.

Government Schemes to Support Indian startups

Atal Innovation Mission (AIM)

In 2016, NITI Aayog introduced the Startup India Scheme and the Atal Innovation Mission . This initiative was designed to promote innovation by developing new programmes and policies to support growth across several economic areas.

This government startup scheme offers a platform for collaboration among various stakeholders in the entrepreneurial sector.

Under this startup scheme, AIM provides approximately ₹10 Crores in funding to selected companies over a period of five years. Emerging organisations in sectors such as health, agriculture, transportation, education are eligible to apply.

Startup India Seed Fund Scheme

In January 2021, the Indian government launched the Startup India Seed Fund Schem-( SISFS) , with the aim of supporting early-stage enterprises.

Entrepreneurs selected for this government startup scheme will receive funding of up to ₹5 Crores.

Startups can get up to ₹20 Lakhs for developing ideas for demonstrations and up to ₹50 Lakhs for expanding their products or services.

Startup India Initiative

Under this government startup scheme, most eligible startups must be no more than 7 years old, while biotechnology companies can be upto 10 years old from their establishment date.

Its many benefits make it one of the best government-sponsored Startup India Scheme for business owners.

Aatmanirbhar Bharat App Innovation Challenge

This scheme was started in July 2020, this government startup scheme encouraged Indian startups to work together to create products made in India for the benefit of both the country and world. It also invited teach and startups firms to produce cutting-edge mobile applications for a significant cash prize.

It also urged tech and startup firms to produce cutting-edge mobile applications for a big cash prize.

MUDRA Banks

The Micro Units Development Refinance Agency (MUDRA) increases access to loans and promotes the growth of the small business in rural areas. The main goal of this government scheme is to help small Indian businesses that want to grow.

Knpow more about the Startup Loan by Government.

Conclusion - Government Funding for Startups in India

Startup India, a government initiative, plays a crucial role in promoting the growth of the startup culture and building an inclusive environment for innovation and entrepreneurship in India.  Through various schemes and financial support for aspiring entrepreneurs, it aims to generate wealth and boost job opportunities in the Indian economy.

FAQs - Government Funding for Startups in India

What is the eligibility criteria for applying for this scheme?
The eligibility criteria depends on that particular scheme 
How much mudra scheme offers?
Mudra schemes offer between 50,000 to 10 lakh