Entrepreneurship is growing at a very rapid pace in India and to boost entrepreneurship, the Government has created an entire ministry dedicated to helping new businesses. The government has also taken initiatives by introducing many schemes to promote entrepreneurship. To provide financial assistance to entrepreneurs the Indian government has set up several different startup schemes to help boost the startup mission in India.
Govt has Launched 'CHUNAUTI'(Challenge Hunt Under NGIS for Advanced Uninhibited Technology Intervention) to invite Startups to develop solutions for problems amid pandemic.
Who can Apply:
- 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, LLPsmay also participate, however, if they are selected then they will have to register as a private limited company in stipulated time (preferably within 3 months).
Startup Ecosystem facilitated through various government departments & programs
- 4100+ Startups have benefited in the last year through various programs of the Central Govt.
- 960 crore of funding has been enabled to Startups through various schemes
- 828 Cr sanctioned funds for infrastructure
Launching the competition, IT Minister Ravi Shankar Prasad said,
“I urge the young, talented innovators of India to come forward and avail benefits of ‘Chunauti’ challenge of government and create new software products and app. This launch is a bold initiative under the clarion call for Aatmanirbhar Bharat given by Prime Minister Narendra Modi”.
Participants in the challenge will be encouraged to develop products and technologies in five key domains
- Edu-Tech, Agri-Tech & Fin-Tech Solutions for masses
- Supply Chain, logistics & Transportation Management
- Infrastructure & remote monitoring
- Medical Healthcare, Diagnostic, Preventive & Psychological Care
- Jobs & Skilling, Linguistic tools & technologies
Budget of the Programme
The government has chosen a budget of over 95 crores over a period of 3 years for this program. This programme aims to identify around 300 startups working in identified areas.
Financial Incentives/Funding Support:
The startups selected through the challenge would be provided incubation support, mentorship, all relevant facilities, as well as funding support such as cloud credits from leading third-party service providers, seed funding of up to INR 25 lakhs, as well as INR 10,000 in monthly monetary support to each intern (startup in pre-incubation) for a period of six months to help them evolve their business plan and solution around the proposed idea.
Timelines & Duration:
- Application submission– Start Date- 10th August 2020
- Application submission– End Date- 07th September 2020
- Evaluation of Application- 21st September 2020
- Announcement of the result- 28th September 2020
With the objective to build a strong Eco-system for nurturing innovation and Startups in the country, these initiatives are introduced. The government is also taking steps to reduce the hurdles in the path of the startups. India seems to be going towards the era of entrepreneurship, as India ranks 63 in ease of doing business around the world.