DPIIT invites applications for first ever National Startup Awards
The Department for Promotion of Industry and Internal Trade has announced the institution of the first-ever National Start-up Awards. The Awards seek to recognize and reward outstanding startups and ecosystem enablers that are building innovative products or solutions and scalable enterprises, with high potential of employment generation or wealth creation, demonstrating measurable social impact.
Commerce and Industry Minister Piyush Goyal said, the measure of success will not only be the financial gains for the investors but also the contribution to the social good. The applications for the awards are open till 31st of December.
The Awards will recognize exceptional start-ups across various categories that are providing innovative solutions to solve real problems and challenges for India, developing innovative technologies, products and solutions from India to the world, building businesses that are scalable, sustainable and responsible and delivering measurable developmental gains.
The Awards will also reward exceptional Incubators and Accelerators as key building blocks of a robust startup ecosystem. They will be given in 35 areas, classified into 12 broad sectors like agriculture, education, enterprise technology, energy, finance, food, health, Industry 4.0, space, security, tourism, and urban services. In addition, there are three special awards for start-ups from educational institutions, making impact in rural areas and women entrepreneurs.
A cash prize of five lakh rupees each will be awarded to the winning startup in each area. The winner and four runners-up will also be given opportunities to present their solutions to relevant public authorities and corporates for potential pilot projects and work orders. They will also be given priority for participation in various national and international startup events. A cash prize of 15 lakh rupees each will be awarded to one winning Incubator and one winning Accelerator as well.