Ever dreamt of setting up a business? It may be that firm where something just magic happens and the whole world falls in love with it. But, of course, there’s always that lingering thing like “Wait, I need cash for this!”! So, fear not, budding entrepreneurs! India’s government holds in store the secret treasure chest designed just for you-all-in the name of startup grant.
It is a gold pot of magic for Indian startups at the most initial stages of business. Imagine that, utterly free grant worth ₹20 lakh!
The following question now arises in response to this. How does one access the treasure chest to get a share of this money? Not a problem at all. Let us help!
What is Seed Funding?
Treasure hunt before we begin. Now, there’s this word seed funding. Think you want to have a lemonade stand. Now you need money for lemons, sugar, a stand, and maybe a cool sign. Well, seed funding is like getting money from your friends or family to help you set up your lemonade stand.
Today we’re going to talk about the Startup India Seed Fund Scheme-your treasure map. Actually, it is a special scheme by the Indian government to initiate a startup. It’s that treasure map that leads you to that pot of gold!
This is how it works:
- Grant: The amount provided rises to up to ₹20 lakhs. It is almost free money minus the question of returning it. In a way, it’s almost a gift which happens to be there to get the business setup!
- Debt or Convertible Debentures: An amount up to ₹50 lakhs would reach you in debt or convertible debentures. It is more or less taking a loan, where this one is coming in on relatively milder terms and conditions.
How to get the grant: An adventure
Getting a grant from SISFS is an adventure that’s fun. Here is your quest:
- Brainstorm: Bright, original idea-and one that solves a problem or meets some kind of need. Kind of like having a lemonade recipe to end all recipes.
- Build a strong team: There are people on your team that can help and each has varied talents. More than just friends to serve lemonade, build a lemonade stand, and keep people posted as you run a small business.
- Create a business plan: It represents a business plan, which is actually a planning of how you can make some money after building up from your idea. It’s a map showing the steps through which your lemonade stand is going to take in order to be the popular lemonade stand in town.
- You can apply for the grant: You can do this online through the Startup India portal or DPIIT Certificate, maybe, you are going to imagine a letter to the government that says: “We have a super cool idea, and we need your help to make this happen!”
Things to Know About SiSFS
About SISFS: here are the cool facts.
- Lots of Startups Benefited: Tens of Thousands of Start-Ups Will Benefit from The Scheme Almost 3600 Start-Ups will get their share of profit through this scheme.
- Virtual incubators: The scheme will nearly provide a virtual incubation process for around 300 incubators. It can be defined as an online guide or a kind of online mentor who gives ways.
- Total amount raised: The government has raised a high level, almost equivalent to INR 945 crores, fund. This amount will be given along with the start-ups.
- Easy Application: Any one can apply for it at any time!! Anyone can apply from anywhere in India and can start any type of business there.
- No need of office space: Anyone can start it from any corner of India.
- All states in India can apply under this scheme: One can get started under the schemes available in all the states of India.
- Incubators through which one can apply: Up to 3 incubators through which one can make chances to get one much more high.
StartupFlora Your Seed Funding Companion
Seed Funding and Government Scheme Navigation can be very aching sometimes. One of the topmost startup consulting companies, StartupFlora, helps you with this also:
- Seed Funding: Seed funding forms which one is perfect for your start-up.
- Create the Best Business Plan: Provide the most authentic business plan to start up your start-up.
- Connect with Ideal Incubators: We connect you with ideal incubators that help you align with your business goals.
- SISFS Application Form: We guide you through the application process so that you apply with a great and appealing application.
Ready to Fuel Your Startup Dreams? The most probable lifeline to early-stage startups would be seed funding in the form of government grant like SISFS. This will give much-needed impetus for innovative ideas to come into being and help raise See