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CHUNAUTI 4.0 – STPI Pune in India

Deadline: 15-Aug-22

The Software Technology Parks of India (STPI) Pune has announced the applications for its CHUNAUTI 4.0 program under Next Generation Incubation Scheme (NGIS).

NextGen Start-up Challenge Contest (CHUNAUTI – Challenge Hunt Under NGIS for Environmental, Social & Governance)is a series of online Challenges under NGIS.

Focus Areas

  • Startups having innovative Idea/Product/Solution focused including but not limited to the following:
    • Urban development
    • Healthcare &Pharma
    • Automotive, Aerospace and Defence
    • Financial Services
    • E-Governance Solutions – last mile online delivery of services to citizenry.
    • Industrial products
    • Digitization and telecommunication
    • Agricultural
    • Infrastructure and logistics

Idea/ Product/ Solution Focus

  • Innovative Products/Solutionsto quality, reliable and sustainable solutions that fall under the technology focus areas
  • Advanced tech EV/ADAS solutions developed by start-ups that are indigenously designed, developed and patented
  • Application of sunrise technologies that solve the needs of rural economy – Agriculture, Fintech
  • Innovative Products/Solutions that contribute towards Digitation & telecommunication ecosystem – effective consolidation of data, while supporting paperless processing, design-led manufacturing to build a strong ecosystem for 5G as part of the Production Linked Incentive Scheme
  • Innovative Products/Solutions to develop alternate Energy solutions– Solar, EV and others

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_pune