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MedTech, Center of Entrepreneurship in Medielectronics and Health Informatics
"Open Challenge Program 5.0 (OCP 5.0) is announced.
Objective is to promote start-ups in the field of Medical Devices/Electronics.
 

 

WHO CAN APPLY

Company Type

• The start-up must be incorporated as a
• Private Limited Company (as defined in the Companies Act, 2013) or
• Registered Partnership Firm (Regd. under section 59 of the Partnership Act, 1932) or
• Limited Liability Partnership (under the Liability Partnership Act 2008)
• The date of registration/incorporation must not be beyond 10 years.

Annual Turnover
Start-up should have an annual turnover not exceeding Rs. 100 crore for any of the financial years since its incorporation. Original Entity An entity should not have been formed by splitting up or reconstructing an already existing business.

Innovative & Scalable
Entity working towards innovation, development, or improvement of products, processes, or services or if it is a scalable business model with high potential of employment generation or wealth creation.

Terms & Conditions

• Start-ups have to operate from the MedTech CoE Incubation facility at STPI Lucknow CoE at SGPGI.
• Each start-up will be offered incubation space as per their requirement.
• Each start-up has to offer designated equity to STPI as per the present valuation.
• The start-up has to pay designated services charges per seat per month for availing incubation facilities.
• The incubates under product development and R&D shall be offered discount as per the STPI Incubation Policy.

FOCUS AREAS

Startups having innovative Idea/Product/Solution in following focus area:
• Early Disease Diagnosis.
• Next Generation Technology.
• Networking with Healthcare Professionals.
• Point of Care- Wireless Monitoring System.

The focus area is not limited to above problem statements only. Any other product/solution which caters to one or more of the domains is invited.

 

SELECTION PROCESS

Screening, Evaluation & Selection:

• Designated Committee(s) shall be formed for Screening, Evaluation & Selection.
• 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.
• Decision of the designated Committee(s) shall be final & binding on all.

 

DURATION

• Application submission– Start Date 27th February 2024
• Application submission– End Date 10th April 2024

OFFERINGS

• Physical infrastructure including state-of-the-art Ready-to-Work Plug & Play space
• Direct mentoring from stalwarts of business/tech domain
• Financial Support through seed funding
• High Speed Internet Access
• Access to VC funding
• Technical Support
• Marketing Support
• IPR Related Support Services
• Access to 19+ CoE Labs PAN India
• End-to-end marketing plan to place your start-up on the global map
• Legal, Accounting, IPR/Patenting Facilitation & other support Service
• Cross border collaboration via international promotional agency partners
• Sponsorship to National/International level events to showcase your products for global exposure.

INCENTIVES

Special prize for Women Entrepreneurs Selected and On-boarded (Top 3 pitches) through OCP5.0
• 1st Prize- 1,00,000/-
• 2nd Prize- 75,000/-
• 3rd Prize- 50000/-

For technical queries in filling the application form, please contact at: startup.pmu@stpi.in