Globally, India accounts for more than 10% of the fish diversity and ranks 2nd in the world in total fish production. Currently, the aquaculture market is estimated to be $17 billion, wherein 92% of production output comprises fish. The Indian aquaculture market is expected to reach $19 billion by 2022 and double the production and exports in the next 5 years.
The Department of Fisheries (“DoF”) is one of the two Departments under the Ministry of Fisheries, Animal Husbandry & Dairying. Highlighting the importance of growth of fisheries sector, the Government of India has made substantial investments in the development of modern fishing harbours and fish landing centres. Today, India houses 50+ startups operating in fisherThe Fisheries Startup Grand challenge would be open to DPIIT recognized Startups working in the areas indicated in the problem statements (we encourage startups to get recognised by DPIIT and apply for the challenge)ies and aquaculture domain.
DoF, through its partnership with Startup India would like to identify and support innovations and startups working in the aquaculture and fisheries sector to accelerate the growth of this sector.
The Fisheries Startup Grand challenge would be open to DPIIT recognized Startups working in the areas indicated in the problem statements (we encourage startups to get recognised by DPIIT and apply for the challenge)
· The Startup should have a minimum viable product or service with a market fit, viable commercialization, and scope of scaling
Enhancing quality of production in fisheries and aquaculture sector
Design and develop technology / solutions for enhancing the productivity so that the fishers & fish farmers can achieve better price realization
Design and develop infrastructure solutions across the fisheries and aquaculture value chains
Develop infrastructure and post-harvest management solutions that will enable fishers, fish farmers in creating value addition, value creation and value realization ensuring minimal wastage across the fisheries value chain
Innovative branding and promotion for increasing consumption of fish and fish products
Develop business solutions and outreach activities that will make fish and fish products easily accessible, acceptable and popular among the meat consuming population in the country
Innovative solutions for combating environmental issues related to fisheries and aquaculture sector
Develop sustainable solutions to reduce/stop soil erosion, siltation of the water bodies and develop eco-friendly solutions for costal fishers
Awards:-
1. Cash Grants for 12 startups worth INR 2 Lakhs each
2. Incubation Support for up to 10 startups for 9 months
1. Masterclasses for shortlisted startups
1. Seed Grant for upto 10 startups worth INR 2.5 Crore under the larger umbrella of DoF’s flagship scheme, Pradhan Mantri Matsya Sampada Yojana PMMSY –
As per the PMMSY guidelines, Govt assistance of upto Rs 20 lakhs for general category or upto Rs 30 lakhs for SC/ST/Women category will be provided against a unit cost of Rs 50 lakhs, subject to the condition that they mobilize the remaining funds (beneficiary contribution) i.e is upto INR 30 Lakhs (Gen Category) or upto INR 20 Lakhs (SC/ST/Women Category) – assuming the unit cost of INR 50 lakhs.
Note: It is encouraged that Startups may mobilize beneficiary contribution from angel investors or venture capitalists or any other investment sources in the startup ecosystem.
Deadline:- 31-03-2022
