The Department for Promotion of Industry and Internal Trade (DPIIT) has invited applications for its first-ever National Startup Awards.
The Department for Promotion of Industry and Internal Trade (DPIIT) has invited applications for its first-ever National Startup Awards. The awards will recognise startups building “innovative products or solutions and scalable enterprises, with high potential of employment generation or wealth creation, demonstrating measurable social impact,” Commerce Ministry said. Applications are open until December 31, 2019. Startups will be awarded across 35 areas clubbed into 12 broad categories including agriculture, education, energy, finance, health, industry 4.0, space, security, enterprise technology, food, tourism, and urban services. Along with startups, the awards will also be given to accelerators and incubators supporting startups in their early business.
“National Startup Awards 2020 will help the recognised entities attract business, financing, partnerships & enable them to serve as a role model for others to make a socio-economic impact,” Commerce minister Piyush Goyal tweeted on Saturday. Winning startups across 35 areas will receive a cash prize of Rs 5 lakh each. The winners and four runners-up will be offered an opportunity to showcase the solutions to corporate and public authorities for possible work orders and pilot projects. These startups will also get priority for participating in national and international startup events. A cash prize of Rs 5 lakh each will be awarded to the winning startup in each area.
The winners and 4 runners-up will also be given opportunities to present their solutions to relevant public authorities and corporates for potential pilot projects and work orders. They will also be given priority for participation in various national and international startup events. Accelerator and incubator winning the awards will get a cash prize of Rs 15 lakh each. Participation is only valid for startups registered with DPIIT. Launched in January 2016, Startup India scheme, under DPIIT, has 3,62,445 startups registered so far. These startups must also have necessary trade-specific registrations such as FSSAI, MSME, GST registration etc. Also, there should be no defaults in the past three financial years by startups even as they would have to submit their audited financial statements for the last three financial years.