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  • January 01, 2023

The 5 Best Government Schemes For Boosting Startups

The Indian startup ecosystem is on the rise, with the number of startups increasing every year. 
However, these startups face a number of challenges, such as access to funding, talent, and customers. 
The government of India has launched a number of schemes to support startups and help them overcome these challenges. 
Some of these schemes provide funding, while others offer mentorship, incubation, and other support. 
In this article, we will take a look at the 5 best government schemes for boosting startups in India.


1. PRADHANMANTRI MUDRA YOJNA( PMMY) 

The Pradhan Mantri Mudra Yojana (PMMY) was launched by the Government of India in 2015. 
The scheme is designed to provide financial assistance to small businesses and entrepreneurs. 
Under the scheme, loans of up to Rs. 10 lakhs are provided to small businesses and entrepreneurs. 
The scheme has helped over 50 lakhs small businesses and entrepreneurs across the country.

The PMMY scheme has been a great success and has helped many small businesses and entrepreneurs to get access to finance. 
If you are a small business owner or entrepreneur, I would urge you to avail of the scheme and get the financial assistance that you need to grow your business.


2. SAMRIDH SCHEME

The 'SAMRIDH' scheme is a holistic and integrated approach for rural development. 
It aims to bring together all the existing schemes and programs for rural development under one umbrella. 
The scheme was launched by the Ministry of Rural Development in September 2019. 

The SAMRIDH scheme has four main components: 

  • Development of gram panchayats
  • Strengthening of agricultural and allied activities
  • Promotion of entrepreneurship and skill development
  • Enhancing public health and sanitation facilities

The scheme is being implemented in a phased manner, with the first phase being implemented in 500 selected gram panchayats. 
The scheme is expected to benefit around 10 lakh families in the first phase.

 
3. STARTUP INDIA SEED FUND

Government of India has approved a new scheme called the Startup India Seed Fund Scheme (SISFS) with a corpus of INR 945 Cr. 
The scheme will be administered by the Department for Promotion of Industry and Internal Trade (DPIIT), 
and is aimed at providing financial assistance to startups for early-stage innovation and experimentation.

The scheme will provide financial support in the form of equity or soft loans to startups, with a maximum investment of INR 1 Cr per startup. 
The scheme will also provide mentorship and handholding support to startups, and will help them connect with larger startup ecosystems.

The scheme is a part of the government's larger Startup India initiative, which is aimed at promoting entrepreneurship and fostering an ecosystem that is conducive to the growth of startups.


4. STARTUP LEADERSHIP PROGRAMME

The Startup Leadership Programme is a 12-week course designed to help new and early-stage startup founders build their businesses. 
The programme is structured around six key modules, each of which covers a different aspect of startup leadership.

The programme is delivered online, and participants have the opportunity to interact with their peers and mentors throughout the course. 
The programme culminates in a Demo Day, where participants pitch their businesses to a panel of investors and industry experts.

If you're interested in taking your startup to the next level, the Startup Leadership Programme is a great way to get started.


5. ASPIRE (A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship) 

The scheme for Promotion of Innovation, Rural Industries and Entrepreneurship (ASPIRE) was launched by the Ministry of Micro, 
Small and Medium Enterprises (MSME) in 2016-17. The scheme has the following objectives:

  • To promote innovation and Entrepreneurship in MSMEs
  • To provide support for setting up of new enterprises
  • To encourage rural industries
  • To create an enabling environment for MSMEs

ASPIRE consists of two sub-schemes: 1) Technology Centre Networks (TCNs) and 2) Innovation and Entrepreneurship Development Centres (IEDCs).

The scheme has so far supported the setting up of 18 TCNs and 100 IEDCs across the country. 
These centres provide support for technology upgradation, R&D, design, testing and other services too