Deadline: 31-May-23
CHUNAUTI 5.0, the call for applications, is looking to identify and support promising startups working towards building products/solutions in Emerging Tech.
NextGen Start-up Challenge Contest (CHUNAUTI – Challenge Hunt Under NGIS for Advanced Uninhibited Technology Intervention) is a series of online Challenges under NGIS.
Next Generation Incubation Scheme (NGIS) is STPI’s comprehensive incubation scheme which has a vision to drive the rise of India as a Software Product Nation so as to make India a global player in development, production and supply of Innovative, Efficient and Secure Software Products thus facilitating the growth across the entire spectrum of ICT sector as envisioned in the National Policy on Software Products (NPSP) – 2019.
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
Benefits
- Ready to work Plug-n-Play incubation space along with highspeed internet access.
- Full-fledged security & vulnerability testing of Software Products through the dedicated Software Product Security Testing (SPST) facility.
- Facilities and services including mentoring, networking/industry connects, marketing support, etc. of the pan-India domain specific CoEs of STPI may be leveraged.
- Mentoring Support.
- Access to VCs for funding support.
- Networking opportunities/Industry connect and Go-to market support for exhibiting/showcasing products/solutions through various National/International events/workshops/exhibitions.
- Facilitation support for IPR/Patent filing.
- Mentor, experts, industry network of STPI and MSH.
- Note: Stipend/internship will be extended to interns/employees of Startups recommended under “Stipend” category only.
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 “NextGen Technology Fund-I”.
- Start-ups who are in ideation stage may be selected under pre-incubation programme & mentored for up to six months to evolve their business plan & solution around the proposed idea. Each intern/employee (max 3 interns/employees per start-up under pre-incubation) will be paid stipend/internship of Rs. 10,000/- per month initially for 3 months (maximum up to 6 months).
- Cloud Credits from leading third-party service providers.
Eligibility Criteria
- The eligibility criteria for a start-up to apply in the CHUNAUTI 5.0 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.
Selection Process
Screening, Evaluation & Selection:
- All the applications received shall be subject to a rigorous centralized multi-tier screening process with involvement of appropriate experts from respective domain and/or location as deemed fit.
- Designated Committee(s) shall be formed for Screening, Evaluation & Selection.
- Decision of the designated Committee(s) shall be final & binding on all.
For more information, visit Software Technology Parks of India (STPI).