Under Chunauti, seed funding of up to Rs. 25 lakhs will be provided through Financial Institution to each start-up selected through the challenge under NGIS.
Chunauti a contest under NextGen Startup Challenge has been launched by the government to help and support startups from small cities. Chunauti – Challenge Hunt Under NGIS for Advanced Uninhibited Technology Intervention, is an online challenge under Next Generation Incubation Scheme (NGIS).
NGIS is Software Technology Parks of India (STPI)’s comprehensive incubation scheme which has the vision to drive the rise of India as a Software Product Nation so as to make India a global player in development, production, and supply of Innovative, Efficient and Secure Software Products.
Last date to apply for the contest is 7th September 2020.
The challenge aims to find the products and solutions to address the issues and challenges faced during and post-pandemic situation. Chunauti is looking to identify and support the solutions which can support Government, industries, and the public at large for their seamless operations and enabling them to face the varied difficulties and bottlenecks amid these situations.
The challenge results in Cloud Credits from leading third-party service providers, seed funding of up to Rs. 25 lakhs will be provided through Financial Institution to each start-up selected through Chunauti under NGIS based on innovative idea, novel solutions, strong team & sound business proposal. The stakeholders include MeitY, STPI, MSH, STPINEXT Initiatives.
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 the ideation stage may be selected under the pre-incubation program and mentored for up to six months to evolve their business plan and solution around the proposed idea. Each start-up under pre-incubation will be paid ten thousand rupees per month for a period of 6 months.
The challenge invites the applications from Indian Start-ups who are working in domain related to software product development. Start-ups registered with DPIIT under the start-up India program are encouraged to participate in this program.
Individual Academicians, Researchers, Educators, Entrepreneurs, partnership firms, LLPs may also participate, however, if they are selected then they will have to register as a private limited company in the stipulated time, preferably within 3 months.
Edu-tech, Agri-tech, and Fin-tech Solutions for masses, supply chain, logistics, and transportation management, infrastructure and remote monitoring, medical healthcare, diagnostic, preventive & psychological care, jobs and skill development, linguistic tools, and technologies will be the key domains in the challenge.
Ready to work Plug-n-Play incubation space along with high-speed internet access within the constraint of lockdown and thereafter are available. Also, mentoring support, networking opportunities, and Go-to-market support for exhibiting products or solutions through various National and International events, workshops, and exhibitions will be made available.
It also provides 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, Patenting, and other support services will be given.
Facilities and services including mentoring, networking and industry connections, marketing support, etc. of the pan-India domain-specific CoEs of STPI may be leveraged. Mentor, experts, industry network of STPI, and MSH will be available.