National Startup Awards 2020

#GS2 #Governance 

The Ministry of Commerce and Industry has announced the first ever National Startup Awards to recognise the outstanding startups in India.

 

About the ‘National Startup Awards 2020’ 

  • The Department for Promotion of Industry and Internal Trade (DPIIT) has conceived the first ever National Startup Awards 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 is not only the financial gains for the investors but also the contribution to the social good.
  • The first edition of the Awards invited applications across 12 sectors which were further sub-classified into a total of 35 categories.
  • These 12 sectors are Agriculture, Education, Enterprise Technology, Energy, Finance, Food, Health, Industry 4.0, Space, Security, Tourism and Urban Services.
  • Apart from these, startups are to be selected from those which create impact in rural areas, are women-led and founded in academic campuses.
  • The winning Startups will get cash prizes of Rs 5 lakh each, along with opportunities to present their solutions to relevant public authorities and corporates, for potential pilot projects and work orders.
  • As key building blocks of a robust Startup ecosystem, one exceptional Incubator and one Accelerator each will get a cash prize of Rs 15 lakh.
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