University of Hyderabad's Section-8 company Aspire has been selected as one of the incubators under the Start-up India Seed Fund Scheme. Start-up India envisages building a robust start-up ecosystem in the country for nurturing innovation and providing opportunities to budding entrepreneurs.
An Experts Advisory Committee (EAC) created by the Department for Promotion of Industry and Internal Trade executes and monitors the Start-up India Seed Fund Scheme. The EAC selects eligible incubators and provides grants of up to Rs 5 crore each.
In turn, the selected incubators provide start-ups with up to Rs 20 lakh for validation of proof of concept, prototype development, product trials to start-ups.
