The Department for Promotion of Industry and Internal Trade (DPIIT) under the Union Ministry of Commerce and Industry has announced institution of first ever National Startup Awards. The award was launched by Piyush Goyal, Union Minister for Commerce and Industry and Railways. The applications for the awards are open till 31 December 2019.
About National Startup Awards
The Awards seek to recognize as well as reward exceptional startups and ecosystem enablers that are building innovative products/ solutions and scalable enterprises demonstrating measurable social impact, with high potential of wealth creation and employment generation.
It will also recognize outstanding startups across many categories that are providing innovative solutions to solve real problems and challenges for India, delivering measurable developmental gains, products and solutions from India to world, developing innovative technologies and building businesses that are scalable, sustainable and responsible.
The National Startup Awards measures success not only as financial gains for investors but also the contribution to the social good. It will also reward exceptional Incubators and Accelerators as key building blocks of a robust startup ecosystem.
Startups will be awarded in 35 areas, classified into 12 broad sectors. These sectors include enterprise technology, education, agriculture, security, energy, finance, health, food, urban services Industry 4.0, space and tourism. In addition, to these there are three special awards for startups from educational institutions, making impact in rural areas and women entrepreneurs.
Prize: A cash prize of Rs. 5 lakh each will be awarded to winning startup in each area. Moreover, a cash prize of Rs. 15 lakh each will be awarded to 1 winning Incubator and 1 winning Accelerator as well.
Apart from this, the winner and 4 runners-up of National Startup Awards will also be provided 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 as well as international startup events.
Source: GK today