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Idea Challenge Program (ICP) 2.0 in India

Deadline: 3-Oct-21

Apiary’s Idea Challenge Program (ICP) 2.0 is inviting proposals/applications from Indian Start-ups who are working in Blockchain.

Themes

The Start-ups are expected to solve the problems using the Blockchain Technology.

  • Relevant Stakeholders
    • Individual
    • Ideation Stage Startup
    • Validation Stage Startup
    • Early Traction Startup
    • Scaling Stage Startup
  • Relevant Industry
    • Finance Technology
    • Others
  • Incentives
    • Fiscal Incentives
      • Access to Funding & Investment
        • CoE shall support and guide start-ups for raising funds towards PoC, MVP and Marketing as well as scaling up through grants, equity and debt by leveraging connections with potential customers and CSR/Corporate sources as well as angels, High Net worth Individuals (HNIs) and VCs as per appropriate size of start-ups.
    • Non-Fiscal Incentives
      • Physical Facilities
        • Ready to Work Plug and Play Space.
        • High Speed Internet Access.
        • Network Operation Center(NOC).
        • 24 x 7 x 365 days Operational work space.
        • Round the clock security.
        • Dedicated team /Support round the clock.
      • Incubation and co-working facilities
        • CoE shall monitor and guide start-ups through dedicated mentor, portfolio managers and start-up support executives.
        • CoE shall review and monitor the progress/performance of start-ups periodically and take necessary action as and when required in co-ordination with PMG.
      • Technology & Business mentoring
        • Mentors shall identify specific needs at specific time like prototyping/design vendors, small – scale manufacturing vendors, large – scale manufacturing vendors etc. and makes best efforts to connect the start-ups with such ecosystem players.
        • Full-time resource presence and organizing peer meetings with mentors at regular intervals.
        • Platform for accessing the mentor through an online portal.
        • Train/educate start-ups in the fields of research, user experience and business technology courses with cutting edge programming and deep-tech applications.
        • Support the start-ups for developing Proof of Concept, provide mentoring for designing & development and help start-ups to convert their idea into a reality.
        • Transforming the start-ups from idea level to Prototype level, Prototype level to MVP (Minimum Viable Product) level, MVP level to GTM (GoToMarket) level and graduating the start-ups into full-fledged company status.
        • Providing a multidisciplinary approach in developing innovative products based on identified business challenges.
        • Support for developing, enhancing and piloting start-ups prototype and business model in a collaborative environment.
        • Conducting need-based mentoring sessions on legal, compliance, branding, cyber security, domain technologies etc.
      • Marketing, Networking & Outreach
        • Beneficiary Incubatees of CoE shall be included in marketing knowledge sessions, conducting road shows, networking events, social media outreach.
        • International events/programs shall be organized

Eligibility Criteria

  • Start-ups registered with DPIIT under start-up India programme are encouraged to participate in this program. The definition of Start-ups prescribed by DPIIT is reproduced below and subject to change from time to time.
    • Company Registration: The start-up must be registered/incorporated within last 10 years as on date of opening of challenge.
    • Annual Turnover: Start-up should have an annual turnover not exceeding Rs. 100 crore for any of the financial years since its incorporation.
    • Original Entity: Entity should not have been formed by splitting up or reconstructing an already existing business.
    • Innovative & Scalable: Entity working towards innovation, development or improvement of products, processes or services or if it is a scalable business model with high potential of employment generation or wealth creation.
  • Individual Academicians, Researchers, Educators, Entrepreneurs, partnership firms, LLPs may also participate. However, if they are selected then they will have to register as private limited company in a stipulated time (preferably within 3 months).

For more information, visit https://www.startupindia.gov.in/content/sih/en/ams-application/challenge.html?applicationId=6131eb40e4b0f62f9307aa9b