Centre disburses Rs 20.57 crore to selected incubators in Telangana under SISFS

This disbursement is far lesser compared to that given to BJP-ruled States. In Gujarat, Rs 65 crore was allocated, out of which Rs 25.52 crore was disbursed

Hyderabad: The Union government has disbursed Rs 20.57 crore of the Rs 39.95 crore allocated to selected incubators in Telangana under the Startup India Seed Fund Scheme (SISFS) till December 31, 2022.

This disbursement is far lesser compared to that given to BJP-ruled States. In Gujarat, Rs 65 crore was allocated, out of which Rs 25.52 crore was disbursed.

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Under the Startup India initiative, the Union government is implementing different schemes, including Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS) to support startups at various stages of their business cycle. The SISFS has been approved with a corpus of Rs 945 crore for a period of four years starting from 2021-22, said Union Minister of State for Commerce and Industry Som Prakash in Rajya Sabha.

Replying to a question by BRS MP Ravichandra Vaddiraju on Monday, he said the SISFS was implemented from April 1, 2021. Under the Scheme, Rs 477.25 crore has been approved to 133 incubators of which Rs. 211.63 crore has been disbursed as on December 31, 2022.