Deadline: 17-Oct-22
IIMK LIVE in association with Cochin Shipyard LTD is launching an initiative USHUS to augment the Government of India’s initiatives to encourage and develop an ecosystem in India to support Maritime Startups.
Ushus is a startup support program of CSL in association with IIMK LIVE to augment the Government of India’s initiatives to encourage and develop an ecosystem in India to support Maritime Startups from the technical, regulatory, financial, and marketing points of view by bringing all the stakeholders together. As part of this program maritime startups will received seed funds from CSL and IIMK LIVE along with mentorship & training support, market access, funding connect and access to service partner.
What are the key maritime and its allied sectors focused in this program?
- Decarbonization of Maritime Industry as per IMO GHG strategy and Paris Agreement
- Start-ups using artificial intelligence and machine learning to optimize processes and create scale in the maritime sector e.g., in vessel-tracking data using position analytics.
- Improving efficiency in the maritime sector. E.g. improving logistics supply chain through technology
- Smart technologies that automate processes, free from human error.
- Autonomous ships and ROVs
- Using block chain for shared ledger of data inputs in the maritime industry
- Simulation e.g. Virtual reality for training, gaming & augmented reality to reinvent product & service levels
Benefits
- Seed funds grants up to Rs.50 lakhs per startup by IIMK LIVE
- Prototyping grants up to Rs.1 Cr per startup by IIMK LIVE
- Equity investments will be made directly by CSL
- Virtual Incubation, training, mentorship, angel/VC connect to startups selected in this program.
Eligible Activities
- Prototype Development, Minimum Viable Product Development, Refinement of Testing of product, Test Marketing, Market Launch
- Expenses on data generation/data acquisition for ideas working on IT side/AI side
- Fees for IP issues/one-time technology licensing fees
- Manpower for day-to-day operations but not promoter’s remuneration in the case of grants.
- Day-to-day operational expenses like electricity bill, incubation charges etc.
- Procurement of web hosting space, software licenses, marketing tools etc.
Eligibility Criteria
- A start-up, as recognised by DPIIT.
- Start-up must have a business idea to develop a product or a service with market fit, viable commercialization, and scope of scaling
- Start-up must have the solution or product in the maritime sector for Focus areas as specified in this Policy
- Start-up should be using technology in its core product or service, or business model, or distribution model, or methodology to solve the problem being targeted.
- Shareholding by Indian promoters in the start-up should be at least 51% at the time of application to incubator for the scheme, as per Companies Act, 2013 and SEBI (ICDR) Regulations, 2018.
For more information, visit https://www.iimklive.org/csliimklive