New Delhi – India has launched “Chunauti”next Generation Startup Challenge Contest to further boost startups and software products with special focus on Tier-II towns.The government has earmarked a budget of Rs. 95.03 Crore over a period of three years for this programme .
It aims to identify around 300 startups working in identified areas and provide them seed fund of upto Rs. 25 Lakh and other facilities.Chunauti was launched by Union Minister for Electronics and Information Technology Ravi Shankar Prasad.
The startups selected through Chunauti will be provided various support from the Government through Software Technology Parks of India centers across India. They will get incubation facilities, mentorship, security testing facilities, access to venture capitalist funding, industry connect as well as advisories in legal, Human Resource (HR), IPR and Patent matters.
Besides seed fund of upto Rs. 25 Lakh, the startups will also be provided cloud credits from leading cloud service providers. Start-ups who are in the ideation stage may be selected under the pre-incubation programme & mentored for up-to six months to evolve their business plan & solution around the proposed idea. Each intern (start-up under pre-incubation) will be paid Rs. 10,000/- per month upto a period of 6 months.
