National Startup Awards 2021

The Department of Promotion of Industry and Internal Trade has invited applications for National Startup Awards 2021. The National Startup Awards are presented recognising outstanding startups and ecosystem enablers. The 2021 awards are to cover flagship schemes launched by Government of India through innovations. The awards are part of Startup India.

About the Awards

The National Startup Awards carry five lakh rupees of cash money. It is provided in fifteen categories namely travel, transport, space, security, Industry 4.0, Health and Wellness, Food Processing, Fintech, Environment, Enterprise System, Energy, Education and Skill Development, Drinking water, animal husbandry and agriculture.

Also, the incubators and accelerators will be provided with fifteen lakhs of rupees.

Eligibility Criteria for Startups

• The startup entity should be recognised by DPIIT.
• The startup should have all trade-specific registrations. For instance, FSSAI, CE, GST, MSME, etc.
• The Startup should submit audited financial statements for the last three financial years.

Eligibility Criteria for Incubators

The Incubator should be structured as an independent entity. It should be operational at least for two years. It should have graduated at least fifteen startups.

What is a Startup Incubator?

Startup Incubator are non-profit organizations that help entrepreneurs grow their business. They are often associated with universities and business schools. The Startup incubators provide the following services:

• Help with Business basics
• High Speed internet access
• Networking Opportunities
• Access to bank loans
• Connections to higher education resources
• Management team identification
• Comprehensive business training programmes
• Help with business etiquette

Eligibility Criteria for Accelerators

The Accelerator should be structured as an independent entity. It should be operational at least for two years. It should have graduated at least ten startups.

What is a Startup Accelerator?

The Startup Accelerators are also called Seed Accelerators. They are generally cohort-based. A Cohort is a group of students working through a curriculum to achieve an academic degree. It includes mentorship and educational components. They are often government-funded.

Month: Current Affairs - December, 2020