On January 17, 2018, the Government of Maharashtra launched the Maharashtra State Innovative Startup Policy 2018 with the vision to transform Maharashtra and achieve wholesome and inclusive socio-economic development by catalysing the growth of an entrepreneurial ecosystem that would be driven by innovation. The policy aimed to deepen the engagement between the Government of Maharashtra and the startup ecosystem. This gave birth to Maharashtra Startup Week, a first-of-its-kind platform for startups to showcase their products and services in exchange for Government work orders that enabled them to demonstrate “proof of concept”.
A week in Mumbai with diverse opportunities
The second edition of Maharashtra Startup Week will be held from January 28 to February 1, 2019 at Mumbai. The five-day event will provide innovative startups with market access and an opportunity to pilot with the government. The event will bring together startups, key startup ecosystem stakeholders and more than 50 partners under one roof. Apart from the pitching sessions by the top 100 startups, there will be exhibitions, workshops, speaker series, talks and VC Mixer, a one-of-a-kind initiative where startups get access to investors.
Last year, startups like Sagar Defence Engineering, S4S Technologies, Floating Canvas Company and Urvi Agrotech were among the 24 winning startups that showcased their potential to create social impact and bring positive change for the country. This year, it could be you!
Who is eligible to apply?
The second edition aims to recognise startups from seven key sectors – education & skilling, healthcare, agriculture, sustainability, (clean energy, environment, water & wastewater management) smart infrastructure & mobility, governance and financial inclusion/fintech. Moreover, to enable startups from other sectors to leverage the opportunities that an initiative of this kind opens up, the Maharashtra State Innovation Society has also created an additional category that allows startups that do not fit into any of the above categories to participate. The eligibility for startups who can apply as defined in the Maharashtra State Innovative Startup Policy 2018 are as follows:
- Incorporated as a private limited company (as defined in the Companies Act, 2013) OR registered as a partnership firm (under Section 59 of the Partnership Act, 1932) OR as a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India
- Incorporated/registered within the last seven years (in the case of startups in the biotechnology and/or social sector, the period can be up to 10 years)
- Not exceeding a turnover of Rs 25 crore in any of the financial years since its incorporation/registration
- Working towards innovation, development or improvement of products or processes or services, or has a scalable business model with a high potential of employment generation or wealth creation
- Have a “minimum viable product” and be ready to demonstrate “proof of concept”. Idea-stage ventures will not be considered.
Reasons why you should apply
For the 24 startups who win, it’s not just the money, but numerous opportunities including:
- Government work orders of up to Rs 15 lakh each. The Government will provide startups with access to personnel, data and other support while the startups pilot their solutions over a period of 6 to 12 months.
- Funding and mentorship opportunities for the top 100 finalists from multiple investors and incubators in partnership with the Maharashtra State Innovation Society (MSInS)
- Select startups, apart from the 24 winners, will also avail benefits like access to exhibition space and networking with VCs/ ecosystem partners, access to specific ecosystem events, free credits from partners, international linkages and any other benefits, as decided by MSInS.
Tap unexplored B2G opportunities for your startup
If you haven’t applied yet, now is the time! From all the applicants, 100 startups will be shortlisted, and the results will be announced on January 21, 2019.
From 28th January to 1st February 2019, these 100 finalists will present their solutions to an esteemed panel comprising eminent members of the startup ecosystem and representatives from the Government, industry, academia and investors. They would be allowed 10 minutes to present their pitch and another 10 minutes for any Q&A. Startups will be evaluated based on their unique value proposition, leadership team, social impact, sustainability and scalability, relevance for the government, and technology advantage (if any). The 24 winners will be announced on the last day of Startup Week.
Applications are open until 11:59 PM on January 12, 2019. So, what are you waiting for? Hurry up, apply for Maharashtra Startup Week and pave the way for B2G opportunities to scale your venture.