Last Friday, Ravi Shankar Prasad, Electronics and Information Technology Minister of India launched “Chunauti” – an online startup challenge for the aspiring entrepreneurs in the country.
Prasad said that Ministry of Electronics & IT (MeitY) and Software Technology Parks of India(STPI) under MeitY would provide infrastructure, mentoring, funding support to the startups selected through this challenge.
The IT Minister posted about this challenge on his Twitter account. The tweet said, “Launched Chunauti – a startup challenge to encourage startups in some key areas. @GoI_Meity & @STPIIndia will provide Infrastructure,mentoring, funding support to startups selected through this challenge.”
The Indian Government has set aside nearly Rs. 95.03 Crore for a duration of 3 years. It aims to recognize around 300 startups working in various fields such as Education, Technology, Healthcare, Farming, and Electronics are to name a few.
On the launch of this new initiative, IT Minister said, ““I urge the young, talented innovators of India to come forward and avail benefits of the Chunauti challenge of the Government and create new software products and apps. This launch is a bold initiative under the clarion call for Atma Nirbhar Bharat given by Prime Minister Narendra Modi.”
According to the details mentioned, the “Chunauti – Challenge Hunt Under NGIS for Advanced Uninhibited Technology Intervention” challenge is a Next Generation Incubation Scheme (NGIS) and is lined up with the National Policy on Software Products (NPSP) 2019, has the vision to drive the rise of India as a Software Product Nation and to make India a global player in Innovative, Efficient and Secure Software Products.
The winners of this online challenge will receive seed funding of up to Rs.25 lakhs and the startups selected in the pre-incubation program will receive an amount of Rs. 10,000/- per month for six months.