India: Apiary Idea Challenge Programme – 5.0

Apiary – Centre of Entrepreneurship in Blockchain Technology is a Blockchain focused Technology & Business Incubator (TBI) located at STPI, Gurugram. Apiary CoE has a mandate to onboard 100 start-ups over 5 years. Software Technology Parks of India (STPI) is an autonomous body under the Ministry of Electronics & Information technology (MeitY).

Objectives: To identify & support potential cutting-edge IT entrepreneurs especially in the field of Blockchain and significantly contribute towards product development, job creation and enhance economic health of the region.

Theme: The theme for the ICP 5.0 is “SDG goals for Sustainable Future with Web 3.0”.

Focus Areas

• AI, ML, IoT, Data Analytics startups have potential use of Blockchain
• Capital Markets & Financial Services
• Global Trade & Commerce
• Digital Identity
• E-Governance
• Agriculture
• Industrial IoT
• Supply chain Management
• Energy & Sustainability
• Healthcare & Lifesciences
• Insurance, Law, Media & Entertainment
• CBDC & Cryptocurrency
• Gaming & E-Sports

Offerings

• Apiary Selected Start-ups will get access to pitch to STPI’s Investors’ Partners Network to raise Seed/Angel & VC funding
• State of Art Plug & Play Office Space at STPI, Gurugram
• Opportunities to participate in various Governments’ Program & Digitization Initiatives
• Opportunities to work with various Governments’ problem statements
• Opportunities to work with various Industries’ problem statements
• Structured Training & Mentoring by Industry Expert/Domain Mentors
• Access to IBM & Amazon Blockchain Platform
• Secretarial Support for Company Formation, IPR Filings & Regulatory Compliances test

Target Beneficiaries: Apiary CoE has a mandate to onboard 100 Start-ups over 5 years.

Who Can Apply?

• Technology Domain:
  • The challenge invites the proposals/applications from Indian Start-ups & Entrepreneurs who are working in Blockchain domain.
• Company Type:
  • The start-up must be incorporated as a
    • Private Limited Company (as defined in the Companies Act, 2013) or
    • Registered Partnership Firm (Regd. under section 59 of the Partnership Act, 1932) or
    • Limited Liability Partnership (under the Liability Partnership Act 2008).
• DPIIT Registration:
  • Start-ups registered with DPIIT under start-up India programme are encouraged to participate in this programme. This is not a mandatory requirement for applying. However, start-ups must confirm to the definition of Start-ups prescribed by DPIIT.
• Company Registration:
  • The start-up must be registered/incorporated within last 10 years as on date of opening of challenge. Individual Academicians, Researchers, Educators, Entrepreneurs, partnership firms, LLPs may also participate. However, if they are selected then they will have to register as private limited company in a stipulated time (preferably within 3 months).
• Annual Turnover:
  • Start-up should have an annual turnover not exceeding Rs. 100 crore for any of the financial years since its incorporation.
• Original Entity:
  • Entity should not have been formed by splitting up or reconstructing an already existing business.
• Innovative & Scalable:
  • Entity working towards innovation, development or improvement of products, processes or services or if it is a scalable business model with high potential of employment generation or wealth creation.
• Haryana Registered Start-ups:
  • Start-ups from Haryana State are encouraged to participate in this program.

Selection Process

• Apiary CoE Selection Process would be organized in three (3) phases:
  • Phase-1: Applications from start-ups are invited through an online contest portal
  • Phase-2: Short listing of Ideas, POCs and Solutions having strong potential through initial scrutiny
  • Phase-3: Selection of start-ups for this program through pitch-in session.
• The final set of companies shall present their business plan to the Start-up Evaluation & Selection Committee.

For more information, visit STPI.