USHUS Startup Program – India

Ushus is a startup support program of CSL in association with IIMK LIVE to augment the Government of India’s initiatives to encourage and develop an ecosystem in India to support Maritime Startups from the technical, regulatory, financial, and marketing points of view by bringing all the stakeholders together. As part of this program maritime startups will receive seed funds from CSL and IIMK LIVE along with mentorship & training support, market access, funding connects and access to service partner.

Sectors

• Decarbonization of Maritime Industry as per IMO GHG strategy and Paris Agreement
• Start-ups using artificial intelligence and machine learning to optimize processes and create scale in the maritime sector e.g., in vessel-tracking data using position analytics.
• Improving efficiency in the maritime sector. E.g. improving logistics supply chain through technology
• Smart technologies that automate processes, free from human error.
• Autonomous ships and ROVs
• Using block chain for shared ledger of data inputs in the maritime industry
• Simulation e.g. Virtual reality for training, gaming & augmented reality to reinvent product & service levels

Key Offerings for Startups

• Funding is offered in both in terms of
  • Seed Fund Grants up to Rs.50 lakhs per startup by IIMK LIVE
  • Pilot Grant Scheme up to Rs.1 Cr per startup by IIMK LIVE
  • Equity Investment will be made directly by CSL.

Eligibility

• Startups only in the Maritime and its allied sector will be considered for this program.
• A start-up, as recognised by DPIIT.
• Start-up must have a business idea to develop a product or a service with market fit, viable commercialization, and scope of scaling
• Start-up must have the solution or product in the maritime sector for Focus areas as specified in this Policy
• Start-up should be using technology in its core product or service, or business model, or distribution model, or methodology to solve the problem being targeted.
• Shareholding by Indian promoters in the start-up should be at least 51% at the time of application to incubator for the scheme, as per Companies Act, 2013 and SEBI (ICDR) Regulations, 2018.

For more information, visit IIMK LIVE.