15 Indian Startups Can Win Rs 50 Lakh Each In Govt’s Startup Challenge (Full Details)
If you are the proud owner of a startup, here is some good news – the Government of India has announced the launch of 15 challenges for Indian MSMEs and startups. If they are successful in solving it, the will be awarded a grant of Rs. 50 lakh each!
Read on to find out all the details about the Government’s challenges for MSMEs and startups right here!
Government of India Pushes For Aatmanirbar Bharat: Announces 15 Challenges Across 3 Ministries
Niti Aayog, the think tank of the Government of India has announced 15 new challenges: 3 challenges across five ministries each under the banner ARISE Atal New India Challenges.
The CEO of NITI Aayog Amitabh Kant, Vice Chairman Rajiv Kumar, and Mission Director of the Atal Innovation Mission R Ramanan all conducted a press conference to announce the launch of this scheme.
This is a major push for the Aatmanirbhar Bharat vision of PM Narendra Modi, and the primary intention behind this is to reduce Idia’s dependence on the input from other countries.
While speaking at the press conference, R Ramanan, the mission director of the Atal Innovation Mission said, “The MSME sector plays a very critical role. It’s a vibrant sector, it’s one of the fastest growing sectors and it plays a critical role in Atma Nirbhar Bharat which is being envisioned by the honorable PM.”
Winners Of The Challenge To Be Awarded Rs. 50 Lakh Grant
These five ministries include the Indian Space Research Organisation (ISRO), Ministry of Housing and Urban Affairs, Ministry of Health and Family Welfare, Ministry of Defence, and Ministry of Food Processing Industries.
As explained by Ramanan, there will be two winners from each challenge and each winner will be eligible for a grant of Rs. 50 lakhs which will be given in three tranches.
There also is a selection criterion set by the organizers. Only those projects which have reached to advanced stages of research and development will be selected. Also, if the projects have an initial prototype, those will fit the selection criteria as well.
You can find the entire list of challenges under the ARISE Atal New India Challenges for startups and MSMEs right here.