On Friday, India’s government has launched a contest to encourage homegrown startups and other tech companies. They are giving particular focus to organizations from small towns of the country. The “Chunauti,” a next-generation startup challenge contest, will focus on 300 startups from selected areas. These startups would get a seed fund of up to 25,00,000 INR and other support. The government of India has set a budget of 95 crore INR for 3-years on this program (1).
The Union Minister of India for electronics and information technology, Ravi Shankar Prashad, has launched the scheme. The come into the light after the government has already given a green-signal to contests, promoting Indian conferencing tools, chip companies, and local mobile apps.
Chunauti to Identify Several Startup Areas
The Chunauti of the government of India, a next-generation startup contest, will recognize startups in various sectors. It includes edutech startups, agritech startups, fintech startups, supply chain, logistics, infrastructure, transportation management, and remote monitoring. The contest will also cover other fields, including medical healthcare, preventive care, diagnostic, psychological care, jobs, skilling, linguistic tools, and other technologies.
Startups selected via Chunauti will get incubation facilities, security testing facilities, mentorship, and security testing facilities. The selected startups from Chunauti contest will also get access to venture capitalist funding, and industry connects along with legal advisories, HR, IPR, and patent matters, as per the government’s statement.
Along with the seed funding of up to 25,00,00 INR, the startups will also get cloud credits from leading cloud service providers. Startups may also get selections for the pre-incubation program and get mentorship for up to six months if they are in the ideation stage. It would allow startups to evolve their business plan and solutions surrounding their business proposal. Startups that are under pre-incubation will get 10,000 INR per month for up to 6 months under Chunauti.