The local startup ecosystem is promoted and supported as part of the NGIS program, which is carried out over a period of three years in 12 STPI centers across the country.
NGIS runs quarterly challenge programs in collaboration with industrial partners and central government departments and agencies that can offer both mentoring and financial support. MeitY has approved that 60 rupees will be spent on the 12 locations in three years to support around 300 start-ups, and all state governments have also given appropriate grants.
Meanwhile, STPI also announced the launch of the NextGen Idea Challenge Contest – ‘CHUNAUTI’ (Challenge Search Below NGIS for Advanced Uninhibited Technology Interventions), which startups across the country can participate and work virtually or choose from one of the 12 locations where they can they want to operate.
In addition to local mentors, the selected start-ups have access to STPI’s nationwide pool of mentors. The startups selected under the challenge are expected to work on solutions to address the issues that arise during and after the pandemic, including in areas such as education, agriculture, finance, logistics and skills.