National Startup Awards 2021 | UPSC

National Startup Awards 2021 | UPSC

      HEADLINES:

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.

MINISTRY? :-Ministry of Commerce & Industry
SYLLABUS COVERED: GS 1 : Awards

      LEARNING: 

For PRELIMS it is important to understand the categories and the eligibility criteria under this award.

For MAINS go through significance of this award.

      ISSUE: 

Despite the challenging times, the Indian Startup ecosystem has showcased unprecedented resilience and zest for innovation.

NATIONAL STARTUP AWARDS 2021

OVERVIEW

  • 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.

Startups that are building innovative products/solutions, scalable enterprises, with high potential of employment generation or wealth creation, demonstrating measurable social impact.

  • The measure of success will not only be the financial gains for the investors but also the contribution to the social good.

National Startup Awards 2021 | UPSC

SOURCES : www.startupindia.gov.in

AIM

  • 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”.

CATEGORIES

    1. Agriculture
    2. Animal Husbandry
    3. Drinking Water
    4. Education & Skill Development
    5. Energy
    6. Enterprise Systems
    7. Environment
    8. Fintech
    9. Food Processing
    10. Health & Wellness
    11. Industry 4.0
    12. Security
    13. Space
    14. Transport
    15. Travel

PRIZE

START UPS

A cash prize of INR 5 lakh shall be awarded to one winning Startup in each of the subsectors

  • The Winners and Runners up shall be given priority for participation in various National and International Startup events sponsored by DPIIT

INCUBATORS

  • Cash prize of INR 15 lakh shall be awarded to one winning Incubator

ACCELERATORS 

  • Cash prize of INR 15 lakh shall be awarded to one winning Accelerator

ELIGIBILITY CRITERIA 

STARTUPS

  • The entity should be a DPIIT-recognized startup. The entity must submit their certificate of incorporation or partnership deed.

The entity must have hardware or software product or a process solution that is present in the market

  • 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).

INCUBATORS

  • The Incubator should be structured as an independent entity-a section 8 company, a Public trust, or a Society

The Incubator should be operational at least for two years as on 30th November 2020 

  • The Incubator must have successfully graduated a minimum of 15 Startups

ACCELERATORS

The Accelerator should be structured as an independent entity– A Public trust, or a Society

  • 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:

  1. Participation in the National Startup Awards is voluntary
  2. 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
  3. One startup can nominate itself in maximum of two categories
  4. Award application form is to be filled in English only
  5. Finalists maybe subject to a legal due diligence review by independent third-party evaluators.
  6. 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.
  7. The decisions of the Jury and the implementation committee shall be final and binding. 

BACKGROUND

As a successor to the first edition, National Startup Awards 2021 recognized and reward outstanding startups and enablers.
 

  • 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 .

National Startup Awards

SOURCES : www.startupindia.gov.in

      IASbhai WINDUP: 

  • 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

 

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