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12 startups get ‘sanction letters’ for financial support from CIIC
Crescent Innovation and Incubation Council (CIIC) has presented ‘Sanction Letters’ to 12 qualified startups under the Startup India Seed Fund Scheme (SISFS), an initiative by the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry.
By
migrator
migrator
Chennai
The SISFS scheme aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market-entry, and commercialisation.
A total of 12 startups out of 267 have been qualified to receive a total fund of Rs 2.5 crore through CIIC after a close scrutiny by the Incubator Seed Fund Management Committee (ISMC).
As of July 2021, the Incubator Seed Fund Management committee received a total of 264 applications of which 35 applications were shortlisted out of which 17 applications were selected. Of this final list, sanction orders have been issued to 12 applicants.
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