APIARY - A Centre of Entrepreneurship in Blockchain Technology
Blockchain technology is considered to be the biggest invention since Internet. It has already taken the world by storm and provides immense potential to change the way transactions are done in the present world. Keeping in view the potential of Blockchain technology, MeitY has approved setting of an STPI CoE in Blockchain at Gurugram. The First Cohort of Apiary CoE consisting of 10 start-ups has completed its Boot Camp and preparing for pitching to the Investors. The Second Idea Challenge Programme (ICP 2.0) is being launched on Friday, 27th Aug 2021.
WHO CAN APPLY• Apiary’s ICP 2.0 invites the proposals/applications from Indian Start-ups who are working in Blockchain.
• Start-ups registered with DPIIT under start-up India programme are encouraged to participate in this program. The definition of Start-ups prescribed by DPIIT is reproduced below and subject to change from time to time.
Company Registration: The start-up must be registered/incorporated within last 10 years as on date of opening of challenge.
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: 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.
• 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).
FOCUS AREASThe Start-ups are expected to solve the problems in the following domains using the Blockchain Technology:
1. Financial Services
2. Travel & Mobility
3. Infrastructure, Energy & Utilities
6. Supply chain
8. Digital Records – Credit Issuance & Verification
9. Smart Contracts
10. Retail & Consumer
11. Entertainment & Media (Digital IPs)
12. E-Governance use cases pertaining to Land Records, Public Health, Labour, Service Record, Pension Delivery and Law Enforcement & Evidence Management.
SELECTION PROCESSIdea Challenge Program 2.0 would be organized in three (3) phases.
Phase-1: Submission of Applications by eligible start-ups, founders & entrepreneurs
Phase-2: Shortlisting of Ideas, POCs and Solutions having strong potential from the received applications
Phase-3: Selection of start-ups for this program through pitch-in session to the ‘Selection Committee’.
DURATIONApiary, A CoE in Blockchain Technology will conduct Idea Challenge Program 2.0 from 27th Aug 2021 – 19th Sep 2021 to select innovative start-ups& entrepreneurs in Blockchain Technology for its second cohort. In this cohort selected start-ups will get chance to incubate for period ranging from 3 months to 6 months. During the Incubation Period, the start-ups will undergo an intense mentorship to deliver time bound results. The start-ups will also undergo the Master Classes which will help them understand the fundamentals of entrepreneurship and build solution to the problems identified by them.
Post Incubation selected start-ups may get chance to participate in Acceleration Program for 9 months. During the Acceleration Program, the start-ups shall receive the knowledge through various masterclasses conducted periodically such as Go to market with a MVP, Marketing (traditional and digital) & Proactive Selling Skills Data Analysis and Sustainable Business Model Pitching to the investor & Scaling the Business. APIARY CoE will also help these start-ups raise an investment up to Rs. Twenty Five lakhs from potential Investors, Partner and their Associates based on their own discretion.
In each cohort selected startups will get chance to incubate for period ranging from 3 months to 6 months. During the Incubation Period, the startups will undergo an intense mentorship to deliver time bound results. The startups will also undergo the Master Classes which will help them understand the fundamentals of entrepreneurship and build solution to the problems identified by them. Post Incubation selected startups may get chance to participate in Acceleration Program for 9 months. During the Acceleration Program, the startups shall receive the knowledge through various masterclasses conducted periodically such as Go to market with a MVP, Marketing (traditional and digital) & Proactive Selling Skills Data Analysis and Sustainable Business Model Pitching to the investor & Scaling the Business. APIARY CoE will also help these startups raise an investment upto Rs. Twenty Five lakhs from potential Investors, Partner and their Associates based on their own discretion.
• Ready to Work Plug and Play Space.
• High Speed Internet Access.
• Network Operation Center(NOC).
• 24 x 7 x 365 days Operational work space.
• Round the clock security.
• Dedicated team /Support round the clock.
Incubation and co-working facilities
• CoE shall monitor and guide start-ups through dedicated mentor, portfolio managers and start-up support executives.
• CoE shall review and monitor the progress/performance of start-ups periodically and take necessary action as and when required in co-ordination with PMG.
Technology & Business mentoring
• Mentors shall identify specific needs at specific time like prototyping/design vendors, small - scale manufacturing vendors, large - scale manufacturing vendors etc. and makes best efforts to connect the start-ups with such ecosystem players.
• Full-time resource presence and organizing peer meetings with mentors at regular intervals.
• Platform for accessing the mentor through an online portal.
• Train/educate start-ups in the fields of research, user experience and business technology courses with cutting edge programming and deep-tech applications.
• Support the start-ups for developing Proof of Concept, provide mentoring for designing & development and help start-ups to convert their idea into a reality.
• Transforming the start-ups from idea level to Prototype level, Prototype level to MVP (Minimum Viable Product) level, MVP level to GTM (GoToMarket) level and graduating the start-ups into full-fledged company status.
• Providing a multidisciplinary approach in developing innovative products based on identified business challenges.
• Support for developing, enhancing and piloting start-ups prototype and business model in a collaborative environment.
• Conducting need-based mentoring sessions on legal, compliance, branding, cyber security, domain technologies etc.
Marketing, Networking & Outreach
• Beneficiary Incubatees of CoE shall be included in marketing knowledge sessions, conducting road shows, networking events, social media outreach.
• International events/programs shall be organized to attract global visibility.
• CoE's end-to-end marketing plans will place your start-up on the global map.
• Partnerships with key international promotional agencies shall be carried out for cross border collaboration.
IPR Related Support Services
STPI has signed MoU with M/s. NRDC (National Research and Development Corporation) for filing Intellectual Property Rights such as Patenting (Drafting & Filing), Trademark, Copyright and any other IPR related support/legal/statutory support.
Blockchain Platforms of AWS, IBM and Intel
STPI has signed MoU with Amazon, IBM & Intel for making their platforms available to start-ups of the STPI CoEs
Access to Funding & Investment
CoE shall support and guide start-ups for raising funds towards PoC, MVP and Marketing as well as scaling up through grants, equity and debt by leveraging connections with potential customers and CSR/Corporate sources as well as angels, High Net worth Individuals (HNIs) and VCs as per appropriate size of start-ups.
Application submission start date
Application submission end date
Start of screening
Declaration of Result of Shortlisted Applicants
Online Webinar for the Shortlisted Applicants
Final Pitch in front of Select Committee Panel
Note: Dates are subject to change. Kindly check the portal regularly for latest information.