NEW DELHI: The government has launched another contest on Friday to boost homegrown startups and software products companies with special focus on firms from small towns of the country.
As per the “Chunauti”- Next Generation Startup Challenge Contest around 300 startups working in select areas will be identified and provided with a seed fund of upto Rs 25,00,000 along with other support.
The government has earmarked a budget of Rs 95 crore over a period of three years for this programme. The scheme was launched by union minister for electronics and information technology Ravi Shankar Prasad. This comes after the government has already flagged off contests to promote a homegrown video conferencing tool, chip companies and local mobile applications.
The Chunauti contest will identify start-ups in areas such as edu-tech, agri-tech and fin-tech solutions; supply chain, logistics and transportation management and infrastructure and remote monitoring.
Other areas also include medical healthcare, diagnostic, preventive and psychological care; jobs & skilling, linguistic tools & technologies.
The startups selected through Chunauti will be given incubation facilities, mentorship, security testing facilities, access to venture capitalist funding, industry connect as well as advisories in legal, Human Resource (HR), IPR and Patent matters, the government said in a statement.
“Besides seed fund of upto Rs. 25 Lakh, the startups will also be provided cloud credits from leading cloud service providers. Start-ups who are in the ideation stage may be selected under the pre-incubation programme & mentored for up-to six months to evolve their business plan & solution around the proposed idea.”
Each start-up under pre-incubation will be paid Rs. 10,000 per month upto a period of 6 months.