If you thought the Make in India movement was missing any more buzz, then this announcement will complete that wish too.
The prestigious initiative from the Department of Industrial Policy & Promotion (DIPP) is set to have a very visible hero too, with a Rs 2 crore bounty to top it.
During the Make in India Week being held in Mumbai, the DIPP and Qualcomm Incorporated, through its venture investment arm, Qualcomm Ventures, have announced “QPrize Make in India”. India’s largest Startup prize till date will see the winner walk away with US $ 350,000 in equity funding.
For Qualcomm, this follows close on the heels of the ongoing Qualcomm Design in India Challenge, which the firm started to support Make In India, with a stated objective of catalysing a strong local product design and manufacturing ecosystem.
"We are delighted to announce the QPrize Make in India contest that will be a driving force for Indian entrepreneurs aligning with our Prime Minister Modi’s vision for Start-up India and Make in India"
said Amitabh Kant, Secretary, Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce and Industry,Government of India
It is heartening to see an industry leader like Qualcomm, joining forces and contributing to make this vision a reality. Besides the Rs. 2 Crore prize money through equity investment, they will bring in immense experience and support to nurture the startups through their Qualcomm Ventures arm and Design in India initiatives targeted towards making India a hub for design and manufacturing.
Don’t forget these key dates:
• Contest opens on February 4, 2016
• Start-ups can submit their entries on the DIPP / Make in India website.
• Last date for submitting entries is February 12, 2016
• DIPP will announce the shortlist on February 15, 2016
• Shortlisted companies will be invited for the final pitch presentation during the grand finale on February 18, 2016
• Jury will consist of eminent names from the Government, industry and Qualcomm
• Winner will be awarded US$ 350,000 (Rs. 2 Crore) as equity investment from Qualcomm Ventures
The grand finale will be held at the Make in India Centre, MMRDA Grounds, Bandra - Kurla Complex and will be televised nationally. Winners can look forward to a large dollop of publicity, glory and much more, thanks to the hundreds of CEOs and founders of top Start-ups from across the country that are attending the Make in India Week.
Disclaimer: Qualcomm Ventures is an investor in YourStory