Here’s why the National Startup Awards is an unmissable opportunity
The Department for Promotion of Industry and Internal Trade (DPIIT), in association with the Startup India initiative, has launched the first National Startup Awards 2020. These awards seek to recognise and reward outstanding startups and ecosystem enablers that are building innovative products or solutions and scalable enterprises, with high potential of employment generation or wealth creation, demonstrating measurable social impact. The measure of success will not only be the financial gains for the investors but also the contribution to social good.
The National Startup Awards 2020 is open to startups as well as incubators and accelerators. Participating startups will be awarded in 35 areas, classified into 12 broad sectors including Agriculture, Education, Enterprise Technology, Energy, Finance, Food, Health, Industry 4.0, Space, Security, Tourism and Urban Services. To apply, click here. Hurry! Registrations close December 31.
Why should you sign up?
The startup world is competitive, to say the least, and the high stakes, the need to disrupt, to constantly innovate, to make a mark and to succeed, makes the competition even fiercer. In such a scenario, any and every exposure, funding and a chance to pitch are priceless. So, it’s no surprise that there are various startup competitions around the world to help young entrepreneurs showcase their products, innovation, solutions and more.
While competitors receive a few key benefits including exposure, validation, and of course funding, they are also rewarded with vital capital. In addition, this funding often comes without having to sacrifice equity or other limitations. Participating in a startup competition could be one of the most powerful experiences for startups, especially in their early stages as it can help to bring their business to the next level.
Apart from getting a chance to network, gauging where your innovative solution stands among the competition and opening doors for new investors, the award comes with an exciting cash prize of Rs 5 lakh for one winning startup in each of the 35 subsectors. Participation in this competition is free of cost.
The winner and four runner-ups shall be given opportunities to present their solutions to relevant public authorities and corporates for potential pilot projects and work orders. They will also get priority for participation in various national and international startup events sponsored by DPIIT.
Exceptional incubators and accelerators, the key building blocks of a robust startup ecosystem, will also be awarded and stand a chance to win a cash prize of Rs 15 lakh.
Who can apply?
The National Startup Awards 2020 is open to any and all startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) with a product in the market. You can get DPIIT-recognised by filling up the recognition form. You’ll have to first register on startupindia.gov.in.
For incubators wishing to participate, they should be structured as an independent entity - a company, a public trust or a society. The incubator should be operational at least for two years as on 1st January, 2020 and must have successfully graduated a minimum of 15 startups.
Participating accelerators must also fulfill the same requirements as those for incubators. They should have successfully graduated a minimum of 10 startups.
Union Minister for Railways and Commerce & Industry Piyush Goyal, Puducherry Lt Governor Kiran Bedi and Telangana IT Minister KT Rama Rao, among others, have championed the cause of these awards on social media, encouraging enterenerus to participate.