Next Generation Incubation Scheme: CHUNAUTI 8.0 (India)

Next Generation Incubation Scheme (NGIS) is STPI’s comprehensive incubation scheme which has a vision to drive the rise of India as a Software Product Nation so as to make India a global player in development, production and supply of Innovative, Efficient and Secure Software Products thus facilitating the growth across the entire spectrum of ICT sector as envisioned in the National Policy on Software Products (NPSP) – 2019.

NextGen Start-up Challenge Contest (CHUNAUTI – Challenge Hunt Under NGIS for Advanced Uninhibited Technology Intervention) is a series of online Challenges under NGIS.

Focus Areas

• Startups having innovative Idea/Product/Solution focused including but not limited to the following:
  • FinTech – Financial inclusion, seamless & cost-effective financial transactions
  • Healthcare & Wellness
  • Education & Skill Enhancement
  • DeepTech
  • E-Commerce
  • Enterprise Software – SaaS
  • Environment
  • E-governance Solutions – last mile online delivery of services to citizenry.
  • Tourism & Hospitality
  • Agriculture
  • Cyber Security
  • Assistive Technology Solutions for Persons with Disabilities
• Any other tech-aided product/solution which caters to one or more of the domains or focus areas mentioned above.

Offerings

• Financial Incentives/Funding Support
  • A seed funding of upto Rs. 25 Lakhs will be provided through Financial Institution to each beneficiary/supported Start-ups selected through CHUNAUTI under NGIS based on innovative idea, novel solutions, strong team & sound business proposal.
    • Disbursal of seed fund to Start-ups will be based on milestones achieved, periodic review and recommendations.
    • Seed funding to Start-ups will be against equity participation by “NextGen Technology Fund-I”.
  • Start-ups who are in ideation stage may be selected under pre-incubation program & mentored for upto six months to evolve their business plan & solution around the proposed idea. Each intern/employee (max 3 interns/employees per start-up under pre-incubation) will be paid stipend/internship of Rs. 10,000/- per month initially for 3 months (maximum upto 6 months).
  • Cloud Credits from leading third-party service providers.
  • Note: Stipend/internship will be extended to interns/employees of Startups recommended under “Stipend” category only.
• Physical Incentives
  • Ready to work Plug-n-Play incubation space along with highspeed internet access.
  • Full-fledged security & vulnerability testing of Software Products through the dedicated Software Product Security Testing (SPST) facility.
  • Facilities and services including mentoring, networking/industry connects, marketing support, etc. of the pan-India domain specific CoEs of STPI may be leveraged.
• Soft Support
  • Mentoring Support.
  • Access to VCs for funding support
  • Networking opportunities/Industry connect and Go-to market support for exhibiting/showcasing products/solutions through various National/International events/workshops/exhibitions.
  • Facilitation support for IPR/Patent filing.
  • Mentor, experts, industry network of STPI and MSH.

Eligibility Criteria

• The eligibility criteria for a start-up to apply in the challenge program shall be as follows:
  • The challenge invites the proposals/applications from Indian Start-ups who are working in domain related to software product development.
  • Start-ups registered with DPIIT under start-up India program are encouraged to participate in this program.
  • 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).
  • At least 51% shareholding with Indian citizen or person of Indian origin. The applicant’s entity should not be a subsidiary company of any foreign corporation.
• Note:
  • The Start-ups submitting the proposals/applications can be in any of the stages viz. Ideation Stage, Validation Stage, Early Traction Stage, Scaling Stage Start-up.

For more information, visit STPI.