Next Generation Incubation Scheme (NGIS) is STPI’s comprehensive incubation scheme which has the vision to drive the rise of India as a Software Product Nation so as to make India a global player in the development, production, and supply of Innovative, Efficient and Secure Software Products thus facilitating the growth across the entire spectrum of the 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.
STPI through CHUNAUTI 2.0 is looking to identify and support promising startups with a special focus on women-led start-ups working on innovative technology products & solutions in focus sectors like Education, Healthcare & Wellness, Financed, SaaS, E-commerce, Agriculture and Environment, and give them access to networks, connects, learning and resources that are needed to build scalable, profitable and global businesses.
Financial Incentives/Funding Support
A. A seed funding of up to Rs. 25.00 Lakhs will be provided through Financial Institution to each beneficiary/supported Start-ups selected through CHUNAUTI under NGIS based on innovative ideas, novel solutions, strong team & sound business proposal.
1. Disbursal of seed fund to Start-ups will be based on milestones achieved, periodic review, and recommendations.
2. Seed funding to Start-ups will be against equity participation by STPI or its affiliate.
B. 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 for a period of up to 6 months.
C. Cloud Credits from leading third-party service providers.
Awards:- RS 25 lakhs