News:The Department for Promotion of Industry and Internal Trade (DPIIT) has announced the institution of the first ever National Startup Awards.
About National Startup awards:
- The first ever National Startup Awards has been announced by the Department for Promotion of Industry and Internal Trade(DPIIT).
- The awards seek to recognize outstanding startups and ecosystem enablers that are building innovative solutions and scalable enterprises, with high potential of employment generation or wealth creation, demonstrating measurable social impact.
- The awards for startups will be given in 35 areas classified into 12 broad sectors like agriculture, education, enterprise technology, energy, finance, food, health, Industry 4.0, space, security, tourism, and urban services.
- In addition,there are three special awards for startups from educational institutions making an impact in rural areas and women entrepreneurs.
- A cash prize of Rs 5 lakh each will be awarded to the winning startup in each area.A cash prize of Rs 15 lakh each will also be awarded to one winning Incubator and one winning Accelerator as well.
About Startup India
- Startup India is a flagship initiative of the Government of India launched in 2016.
- It is intended to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India.
- Since the launch of the initiative, Government has rolled out several programs with the objective of supporting entrepreneurs, and transforming India into a country of job creators instead of job seekers.