The government has earmarked an amount worth Rs 95.03 crore over 3 years for the program. About 1820 applications qualified and 111 applicants were selected for the presentation round. The consolidation of scores and the finalisation of results is underway. The final list of selected startups will be announced soon that will be incubated by STPI and be provided with stipends/seed funding and other facilities to set up their venture.
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“We are enthused by the overwhelming response from participants on CHUNAUTI. The initiative underscores our commitment to supporting startups across India, especially in Tier 2 and Tier 3 cities. It aligns with our vision to foster an innovative ecosystem for the development of indigenous software products. The selected startups will receive end-to-end support through financial assistance and mentorship that will encourage innovation and entrepreneurship in the key sectors,” Dr. Omkar Rai, Director General, STPI said in a statement.
Maximum applications were received for ed-tech, agri-tech and fin-tech sectors at 767(42%) followed by jobs and skilling, linguistic tools and technologies and healthcare sectors at 312(17%) and 308(17%) applications, respectively. In terms of regions, Maharashtra leads the tally with 215 applicants followed by Uttar Pradesh (199), Odisha (138) and Madhya Pradesh (129).
CHUNAUTI, The NextGen Startup Challenge was launched by Minister of Electronics & IT Ravi Shankar Prasad in August 2020. The objective of the initiative is to identify and support solutions for sectors and domains that has emerged as a priority in the post-pandemic world.