Pune, 30th June 2022: Savitribai Phule Pune University’s ‘SPPU Research Park Foundation’ has received a seed capital of Rs 5 crore under the Startup India scheme, under which selected startups will be provided with the funds. SPPU has appealed to apply for this.
The SPPU Research Park Foundation is a Section 8 company working in the field of startups. The foundation has received this fund through the ‘Seed Fund Scheme’ under the ‘Startup India’ program of the Central Government. This is an opportunity for good startups to gain strength. Any registered company, group or individual can apply for this seed fund.
Eligibility conditions for this are announced at https://seedfund.startupindia.gov.in/
Dr Apoorva Palkar, Director, Center for Innovation, Innovation and Collaboration, said that startups can apply for concept, product development, product testing, market entry and commercialization. The applications received will be scrutinized by a committee of experts. Applicants will be notified of the result within 45 days. 20% of the funds will be provided for startups in the initial stage, while the remaining startups will be converted into debentures. Only startups registered under DIPP can apply for this fund. Companies older than two years will not be able to apply for this.
“Startup guidance is provided to students by Savitribai Phule Pune University’s Center for Innovation, Innovation and Collaboration and Research Park Foundation. This Seed Fund will help many startups bring their innovations to fruition”, she added.