The government will announce the results of the National Start-up Awards on Tuesday that will recognise and reward start-ups and ecosystem enablers that are building innovative products or solutions and scalable enterprises, with high potential of employment generation or wealth creation, demonstrating measurable social impact.

The results of the first edition of the awards will be released by Commerce & Industry Minister Piyush Goyal, according to an official release.

“The first edition of the awards invited applications across 12 sectors which were further sub-classified into a total of 35 categories. These 12 sectors are agriculture, education, enterprise technology, energy, finance, food, health, industry 4.0, space, security, tourism and urban services,” the release stated.

Apart from these, start-ups are to be selected from those which create impact in rural areas, are women-led, and founded on academic campuses, it added.

Related Stories
A start-up challenge to develop assistive tech for the differently abled
Assistive tech can provide major business opportunity for entrepreneurs, says Aileen O’Toole of Prosus
READ NOW
 

The measure of success is not only the financial gains for the investors but also the contribution to social good, according to the Department for Promotion of Industry and Internal Trade (DPIIT) that has conceived these awards.

The winning start-ups will get cash prizes of ₹5 lakh each, along with opportunities to present their solutions to relevant public authorities and corporates, for potential pilot projects and work orders.

As key building blocks of a robust start-up ecosystem, one exceptional incubator and one accelerator each will get cash prize ₹15 lakh.

Related Topics