National Startup Awards 2021 | UPSC
DPIIT invites applications for National Startup Awards 2021
WHY IN NEWS:
Department for Promotion of Industry and Internal Trade (DPIIT) is launching the second edition of the National Startup Awards(NSA) 2021.
SYLLABUS COVERED: GS 1 : Awards
For PRELIMS it is important to understand the categories and the eligibility criteria under this award.
For MAINS go through significance of this award.
NATIONAL STARTUP AWARDS 2021
- The National Startup Awards(NSA) 2021 seek to recognize and reward outstanding startups and ecosystem enablers.
- These Startups are contributing to economic dynamism by spurring innovation and injecting competition.
- The measure of success will not only be the financial gains for the investors but also the contribution to the social good.
SOURCES : www.startupindia.gov.in
- NSA 2021 also aims to cover flagship schemes launched by the Government of India through innovations in corresponding areas, thereby solving community problems at large.
- The focus is on improving India’s manufacturing capabilities towards the mission of an “Atma Nirbhar Bharat”.
- Animal Husbandry
- Drinking Water
- Education & Skill Development
- Enterprise Systems
- Food Processing
- Health & Wellness
- Industry 4.0
- The Winners and Runners up shall be given priority for participation in various National and International Startup events sponsored by DPIIT
- Cash prize of INR 15 lakh shall be awarded to one winning Incubator
- Cash prize of INR 15 lakh shall be awarded to one winning Accelerator
- The entity should be a DPIIT-recognized startup. The entity must submit their certificate of incorporation or partnership deed.
- The entity must have all applicable trade trade-specific registrations (example: CE, FSSAI, MSME, GST Registration, etc.)
- There should not have been any default in the last three years by the entity or any of its promoters or any of their group entities
- The entity must submit Audited Financial Statements (Balance Sheet, Profit & Loss Account) for the last three financial years (FY 2017-18, 18-19, 19-20).
- The Incubator should be structured as an independent entity-a section 8 company, a Public trust, or a Society
- The Incubator must have successfully graduated a minimum of 15 Startups
- The Accelerator should be operational at least for two years as on 30th November 2020
- The Accelerator must have successfully graduated a minimum of 10 Startups.
RULES FOR THE AWARD
The following rules will be followed:
- Participation in the National Startup Awards is voluntary
- Startups/Incubators/Accelerators who have won in their respective category in National Startup Awards 2020 will not be eligible to apply for National Startup Awards 2021
- One startup can nominate itself in maximum of two categories
- Award application form is to be filled in English only
- Finalists maybe subject to a legal due diligence review by independent third-party evaluators.
- By participating in the National Startup Awards, the startups, nominator, ecosystem enablers agree to the Government of India’s and its partners use of its name, URL, photos etc.
- The decisions of the Jury and the implementation committee shall be final and binding.
- These startups have demonstrated exceptional capabilities not just in terms of financial gains but also for the measurable impact on society.
- Consideration is also being given to champion sectors identified by the Government of India .
SOURCES : www.startupindia.gov.in
- The recognized entities will benefit from such recognition, in terms of being able to attract more business, financing, partnerships, and talent.
- It will also enable them to serve as a role model for other entities, budding entrepreneurs, and to inspire them to be purposeful and responsible about their socio-economic impact.
SOURCES: PIB | National Startup Awards 2021 | UPSC