Saturday, October 16, 2021

STPI’s tech challenge swells with 6,000 entries; 300 tech startups to get Rs 95 cr Centre funding under CHUNAUTI programme

In a leg up to the Centre’s efforts to boost technology startups, the Software Technology Parks of India (STPI) has announced to have received 6,708 applications for the Challenge Hunt under Next Generation Incubation Scheme (NGIS) by Advancing Uninhibited Technological Intervention (CHUNAUTI).

STPI is a science and technology organisation established under the ministry of electronics and information technology with an aim to encourage the export of software from India.

“The initiative aligns with our vision to foster an innovative ecosystem for the development of indigenous software products. The selected will receive end-to-end support through financial assistance and mentorship that will encourage innovation and entrepreneurship in the key sectors,” Omkar Rai, Director General of STPI, said.

The technology programme, CHUNAUTI was launched by IT Minister Ravi Shankar Prasad in August last year. The programme looks to identify around 300 working in selected areas and provide them with a seed fund of up to Rs 25 lakh and other facilities.

The Union government has also earmarked an amount worth Rs 95.03 crore over three years for the programme. About 1,820 applications qualified and 111 applicants were selected for the presentation round, a statement said.

The consolidation of scores and the finalisation of results is underway. The final list of selected startups will be announced soon that will be incubated by STPI and be provided with stipends/seed funding and other facilities to set up their venture.

According to STPI, the maximum number of applications were received for edtech, agri-tech and fintech sectors (767), followed by jobs and skilling, linguistic tools and technologies and healthcare sectors at (312) and (308) applications, respectively. In terms of regions, Maharashtra leads the tally with 215 applicants followed by Uttar Pradesh (199), Odisha (138) and Madhya Pradesh (129).


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