CHUNAUTI 4.0 - STPI CHENNAI
Next Generation Incubation Scheme (NGIS) is STPI’s comprehensive incubation scheme which has a vision to drive the rise of India as a Software Product Nation so as to make India a global player in development, production and supply of Innovative, Efficient and Secure Software Products thus facilitating the growth across the entire spectrum of ICT sector as envisioned in the National Policy on Software Products (NPSP) – 2019.
NextGen Start-up Challenge Contest (CHUNAUTI - Challenge Hunt Under NGIS for Advanced Uninhibited Technology Intervention)is a series of online Challenges under NGIS.
STPI has been strengthening the start-up ecosystem, through policies, initiatives, and creation of 360-degree ecosystem. The current digital era where technology adoption has been high in the urban, educated and high to mid income group population, the rural, less formally educated and low-income group population is still in the digital inaccessibility group. The ecosystem trends also clearly highlight that the sectors contributing significantly towards $1 TN economy focus on the inaccessibility group. It is also seen that physically disabled population also forms a significant share of digital inaccessibility group. The inaccessibility group mostly resides in and around Tier II and III cities therefore the need is for hyper localized digital products/solution. Accordingly, to boost the localized innovations from Tier II & III cities, through CHUNAUTI 4.0 STPI is looking to identify and support promising start-ups working towards Transforming Digital India by developing innovative solutions using emerging technologies in Banking & Financial Sectorwhichhelps start-up to create application for domains such as Agriculture, Education, Healthcare & Wellness,E-Governance Solutions, Tourism & Hospitality, Cyber Security, Supply Chain &Logistics and Environment etc to makefinancial transaction . As in the previous contests, selected start-ups would be given physical infrastructure, funding assistance, access to networks, connects, learning and resources that are needed to build a scalable, profitable and global business.
WHO CAN APPLYThe eligibility criteria for a start-up to apply in the CHUNAUTI 4.0 program shall be as follows:
• The challenge invites the proposals/applications from Indian Start-ups# who are working in domain related to software product development.
• Start-ups registered with DPIIT under start-up India programme are encouraged to participate in this programme.
• 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).
#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.
The Start-ups submitting the proposals/applications can be in any of the following stages.
• Ideation Stage Start-up: An individual or team of individuals has an innovative product idea and wish to focus on developing that idea into a business.
• Validation Stage Start-up: A validated proof-of-concept exists in a way that the prototype is anticipated to be ready in the foreseeable future. Alternatively, the prototype is ready and awaiting testing and validation.
•Early Traction Start-up: The product has been validated and the start-up needs support in establishing itself as a business.
•Scaling Stage Start-up: The start-up has initial revenue from customers and needs support in scaling its business & product portfolio.
IDEA/ PRODUCT/ SOLUTION FOCUS
• Start-ups working towards innovative solutions using emerging technologies in Banking & Financial Sector to meet the objective of Digital India. .
FOCUS AREASStartups having innovative Idea/Product/Solution focused including but not limited to the following:
2. Healthcare & Wellness
3. Education & Skill Enhancement
4. Financial Services
5. E-governance Solutions - last mile online delivery of services to citizenry.
6. Tourism & Hospitality
7. Cyber Security
8. Supply Chain & Logistics
SELECTION PROCESSScreening, 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√ Duration of NGIS is 3 years. √ Selected individual beneficiary start-up can avail benefits of NGIS in three phases of Nurture, Develop & market extended over 2 years.
OFFERINGS• Ready to work Plug-n-Play incubation space along with highspeed internet access within the constraint of lockdown & thereafter.
• Networking opportunities/Industry connect and Go-to market support for exhibiting/showcasing products/solutions through various National/International events/workshops/exhibitions.
• Full-fledged security & vulnerability testing of Software Products through the dedicated Software Product Security Testing (SPST) facility.
• Access to VCs for funding support.
• Advisory Services such as HR, Legal, Accounting, IPR/Patenting and other support services.
• Facilities and services including mentoring, networking/industry connects, marketing support, etc. of the pan-India domain specific CoEs of STPI may be leveraged.
• Mentor, experts, industry network of STPI and MSH.
INCENTIVES• 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.
• Start-ups who are in ideation stage may be selected under pre-incubation programme & mentored for up to six months to evolve their business plan & solution around the proposed idea. Each intern/employee (max 3 interns/employees per start-up under pre-incubation) will be paid stipend/internship of Rs. 10,000/- per month initially for 3 months (maximum up to 6 months).
• Cloud Credits from leading third-party service providers.
Application submission start date
Application submission end date
Note: Dates are subject to change. Kindly check the portal regularly for latest information.