CHUNAUTI 4.0: STPI Bengaluru in India

Deadline: 16-Aug-22

Applications are now open for the CHUNAUTI 4.0 program under Next Generation Incubation Scheme (NGIS).

NextGen Start-upChallenge Contest(CHUNAUTI – Challenge Hunt Under NGIS for Advanced Uninhibited Technology Intervention)is a series of online Challengesunder NGIS.

Focus Areas

• Startups having innovative Idea/Product/Solution focused including but not limited to the following:
  • Agriculture
  • Healthcare & Wellness
  • Education & Skill Enhancement
  • Financial Services
  • E-governance Solutions – last mile online delivery of services to citizenry.
  • Tourism & Hospitality
  • Cyber Security
  • Supply Chain & Logistics

Idea/ Product/ Solution Focus

• Digital Accessibility:
  • Products/Solutions for improving digital accessibility across India specifically for Persons with Disabilities (Mental Health/Speech/Visual/Hearing/Cognitive Impairment).
• Digital Inclusion:
  • Digital Products/Solutions to enable & enhance technology adoption by general populace beyond the constraints of language barriers, digital literacy, digital resources etc.
  • Digital Products/Solutions to catalyse inclusion of larger populace under Govt. Schemes/Programs & Benefits (e.g., flagship pension, insurance schemes, etc.).
  • Digital Products/Solutions for providing access to quality content using innovative techniques in education, healthcare etc. to larger populace.
  • Digital Products/Solutions for unique local level problems in particular sectors/domains like aquaculture, agriculture, skill etc for benefit of those sectors/domains.
  • Other assistive technology solution addressing a pressing need not covered.

Incentives

• A seed funding of upto Rs. 25.00 Lakhs will be provided through Financial Institution to each beneficiary/supported Start-ups selected through CHUNAUTI under NGIS based on innovative idea, novel solutions, strong team & sound business proposal.
• Disbursal of seed fund to Start-ups will be based on milestones achieved,periodic review and recommendations.
• Seed funding to Start-ups will be against equity participation by STPI or its affiliate.
• Start-ups who are in ideation stage may be selectedunder pre-incubation programme& mentored for upto six months to evolve their business plan & solution around the proposed idea. Each intern (max 3 interns per start-up under pre-incubation) will be paid Rs. 10,000/- per month for a period of upto 6 months.
• Cloud Credits from leading third-party service providers.

Duration

• Duration of NGIS is 3 years.
• Selected individual beneficiary start-up can avail benefits of NGIS in three phases of Nurture, Develop & market extended over 2 years.

Offerings

• Ready to work Plug-n-Play incubation space along with highspeed internet access within the constraint of lockdown & thereafter.
• Networking opportunities/Industry connect and Go-to market support for exhibiting/showcasing products/solutions through various National/International events/workshops/exhibitions.
• Full-fledged security & vulnerability testing of Software Products through the dedicated Software Product Security Testing (SPST) facility.
• Access to VCs for funding support.
• Advisory Services such as HR, Legal, Accounting, IPR/Patenting and other support services.
• Facilities and services including mentoring, networking/industry connects, marketing support, etc. of the pan-India domain specific CoEs of STPI may be leveraged.
• Mentor, experts, industry network of STPI and MSH.

Eligibility Criteria

• The eligibility criteria for a start-up to apply in the CHUNAUTI 4.0 program shall be as follows:
  • The challenge invites the proposals/applications from Indian Start-ups# who are working in domain related to software product development.
  • Start-ups registered with DPIIT under start-up India programme are encouraged to participate in this programme.
  • 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).
  • At least 51% shareholding with Indian citizen or person of Indian origin. The applicant’s entity should not be a subsidiary company of any foreign corporation.
• Note:
  • The Start-ups submitting the proposals/applications can be in any of the following stages.
  • Ideation Stage Start-up: An individual or team of individuals has an innovative product idea and wish to focus on developing that idea into a business.
  • Validation Stage Start-up: A validated proof-of-concept exists in a way that the prototype is anticipated to be ready in the foreseeable future. Alternatively, the prototype is ready and awaiting testing and validation.
  • Early Traction Start-up: The product has been validated and the start-up needs support in establishing itself as a business.
  • Scaling Stage Start-up: The start-up has initial revenue from customers and needs support in scaling its business & product portfolio.

For more information, visit https://innovate.stpinext.in/about-us/chunauti_4.0_blr