Deadline: 16-Aug-22
STPI Gandhinagar is inviting start-up to apply in the CHUNAUTI 4.0 program under Next Generation Incubation Scheme (NGIS).
NextGen Start-up Challenge Contest (CHUNAUTI – Challenge Hunt Under NGIS for Advanced Uninhibited Technology Intervention)is a series of online Challenges under NGIS.
Focus Areas
- Start-ups working towards Technology Solutions using high end technologies like AI/ML, IoT etc that can ENHANCE experience of Digital India.
- Start-ups having innovative Idea/Product/Solution focused including but not limited to the following:
- Finance Services
- Healthcare & Wellness
- Smart Agriculture
- AI in Fintech
- Cyber Security
- Education & Skill Enhancement
- E-Governance Solutions – last mile online delivery of services to citizenry.
- Tourism & Hospitality
- Supply Chain & Logistics
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_gandhinagar