CHUNAUTI-2.0: Women tech entrepreneurs ALERT! Apply before August 31; winners to get up to Rs 25 lakh- Check details
Women entrepreneurs can apply for CHUNAUTI 2.0 before August 31, 2021. Seed funding of up to Rs 25 Lakhs will be provided through Financial Institution to each winner based on innovative ideas, novel solutions, strong team and sound business proposal.
The central governmnet has invited applications from women entrepreneurs for CHUNAUTI 2.0 before August 31, 2021. NextGen Startup challenge contest (CHUNAUTI - Challenge Hunt Under NGIS for Advanced Uninhibited Technology Intervention) is a series of online Challenges under Next Generation Incubation Scheme (NGIS).
"Women tech entrepreneurs, apply for CHUNAUTI2.0 before August 31, 2021. Seed funding of up to INR 25 Lakhs will be provided through Financial Institution to each winner based on innovative ideas, novel solutions, strong team & sound business proposal," Digital India tweeted.
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STPI through CHUNAUTI 2.0 is looking to identify and support promising startups with a special focus on women-led startups working on innovative technology products and solutions in focus sectors like Education, Healthcare & Wellness, Financed, SaaS, E-commerce, Agriculture and Environment, and give them access to networks, connects, learning and resources that are needed to build scalable, profitable and global businesses.
⏲️ The clock is ticking!
Women tech entrepreneurs, apply for #CHUNAUTI2.0 before August 31, 2021.
Seed funding of up to INR 25 Lakhs will be provided through Financial Institution to each winner based on innovative ideas, novel solutions, strong team & sound business proposal. pic.twitter.com/L4tkMdrRUW
— Digital India (@_DigitalIndia) August 29, 2021
1. The challenge invites the proposals/applications from Indian Startups who are working in domain related to software product development. (At least 51% shareholding with Indian citizen or person of Indian origin. The applicant’s entity should not be a subsidiary company of any foreign corporation.)
2. Startups registered with DPIIT under startup India programme are encouraged to participate in this programme.
3. Individual Academicians, Researchers, Educators, Entrepreneurs, partnership firms, LLPs may also participate, however, if they are selected then they will have to register as private limited company in a stipulated time (preferably within 3 months).
4. To qualify as a “women-led startup”, the startup must either be headed by a women entrepreneur OR have a woman as founder or co-founder OR have women as majority stakeholder (at least 33 % of founders’ equity).
Startups having innovative Idea/Product/Solution focused including but not limited to the following:
FinTech - Financial inclusion, seamless& cost-effective financial transactions, Healthcare &Wellness, Education& Skill Enhancement, E-Commerce, Enterprise Software - SaaS, Environment, E-governance Solutions - last mile online delivery of services to citizenry, Tourism & Hospitality, Agriculture, Cyber Security, Assistive Technology Solutions for Persons with Disabilities, Any other tech-aided product/solution which caters to one or more of the domains or focus areas mentioned above.
Screening, Evaluation & Selection:
1. Designated Committee(s) shall be formed for Screening, Evaluation & Selection.
2. All the applications received shall be subject to a rigorous centralized multi-tier screening process with involvement of appropriate experts from respective domain and/or location as deemed fit.
Duration of NGIS is 3 years. Selected individual beneficiary startup can avail benefits of NGIS in three phases of Nurture, Develop & market extended over 2 years.
1. A seed funding of upto Rs 25.00 Lakhs will be provided through Financial Institution to each beneficiary/supported Start-ups selected through CHUNAUTI under NGIS based on innovative idea, novel solutions, strong team & sound business proposal. Disbursal of seed fund to Start-ups will be based on milestones achieved,periodic review and recommendations. Seed funding to Start-ups will be against equity participation by STPI or its affiliate.
2. Start-ups who are in ideation stage may be selectedunder pre-incubation programme& mentored for upto six months to evolve their business plan & solution around the proposed idea. Each intern (start-up under pre-incubation) will be paid Rs 10,000 per month for a period of upto 6 months.
3. Cloud Credits from leading third-party service providers.
It can be noted that the result of the contest will be announced on September 30, 2021.
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