National Startup Awards 2020 | UPSC
Declaration of Results of National Startup Awards 2020
WHY IN NEWS:
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SYLLABUS COVERED: GS 1 : Awards
For PRELIMS keep an eye on the categories and evaluation parameters . Do not forget the ministry !
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NATIONAL STARTUP AWARDS 2020
- This is to reward outstanding Startups and ecosystem enablers that are building innovative products or solutions and scalable enterprises.
- The measure of success is not only the financial gains for the investors, but also the contribution to social good.
- The Department for Promotion of Industry and Internal Trade (DPIIT) has conceived the National Startup Awards to recognise the Startups.
- A total of 1641 applications were received from startups spread across 23 States and 4 Union Territories.
- These applicants included 654 Women-led, 165 academic institution based and 331 startups working in rural areas.
- Twelve broad sectors are identified under this award.
THESE 12 SECTORS ARE
- Industry 4.0
- Space, Security
- Urban Services.
- After three rounds of detailed evaluation, 199 startups were selected for presentation before the jury.
- 192 out of these made presentations before the 15 specialist jury panels, which comprised of domain experts from industry, investors and government.
- But also enable them to serve as role models for other entities, and to inspire them to be purposeful and responsible about their socio-economic impact.
All applicants were evaluated against six broad parameters namely
- Economic Impact
- Social Impact
- Environmental Impact
- Inclusiveness and Diversity.
- The winning Startups will get cash prizes of Rs 5 lakh each.
- 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.
- The startups are going to play important role in many strategic sectors.
- 31 applications were received from incubators and 10 applications were received from Accelerators.
- The felicitation ceremony was accompanied by the release of an e-Report on National Startup Awards 2020 .
- The ‘Startup India Showcase’ and ‘Blockchain-based Certificate Verification System’ were also launched during the event.
STARTUP INDIA SHOWCASE
- The startups showcased here shall be handpicked by experts and will span across different sectors like FinTech, EdTech, Social Impact among others.
- The showcase will help industry, investors and public authorities find and connect with startups for potential partnerships, investments and public procurement respectively.
- This showcase will help the ecosystem connect with them better while also serving as an inspiration.
BLOCKCHAIN-BASED CERTIFICATE VERIFICATION SYSTEM
- This feature introduces an added layer of security to the startup certificates.
- It can be accessed by Government Departments, procurement entities, investors, and other third parties to verify status of recognized startups for accessing different opportunities.
- The Department for Promotion of Industry and Internal Trade (DPIIT) has conceived the first ever National Startup Awards.
- These startups have a high potential of employment generation or wealth creation, demonstrating measurable social impact.
- These awards are not only the recognition and celebration of the new Eco-system but will also encourage the startup fraternity to aim for the sky.
SOURCES:THE HINDU & PIB | National Startup Awards 2020 | UPSC