Maharashtra Startup Week -a unique platform to showcase innovative solutions to Govt. of Maharashtra


Organisation:  Maharashtra State Innovation Society

Event Duration:  28 Jan . 2019--01 Feb . 2019

Last Date To Apply:  12 Jan . 2019


Maharashtra Startup Week -a unique platform to showcase innovative solutions to Govt. of Maharashtra
 

About the Organization

The Maharashtra State Innovation Society organises the Maharashtra Startup Week in an effort to encourage, engage and enable the state’s entrepreneurial ecosystem. The Maharashtra Startup Week provides startups with a platform to showcase their innovative solutions to the Government of Maharashtra.

For startups, this is a one-of-a-kind opportunity to engage directly with the Government and will open doors to scale their solutions further and mitigate development challenges.

Startups from sectors such as education, skilling, healthcare, agriculture, clean energy, environment, water & waste water management, smart infrastructure & mobility, governance, financial inclusion and cyber security will be invited to submit their applications to the Maharashtra State Innovation Society.

The top 100 ventures will be selected to present their solutions to an esteemed panel of judges comprising representatives from the Government, industry, academia and investors.

During the week-long event startups from each sector will make their pitch to the panel, and the best 24 receives work orders of upto INR 15 lakhs from the Maharashtra State Innovation Society to pilot their solutions within the state and demonstrate the proof of concept. Subsequently, the startups receive handholding support in terms of access to the government machinery and mentoring from its institutional partners for a period of up to 12 months to deploy their solutions on ground.

Who is eligible to apply?

All startups from across country that conform to the criteria defined in the Maharashtra State Innovative Startup Policy 2018 are eligible to apply. Accordingly, a startup must:

  • Be incorporated as a private limited company (as defined in the Companies Act, 2013) OR registered as a partnership firm (under Section 59 of the Partnership Act, 1932) OR as a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India
  • Have been incorporated/registered within the last seven years (in the case of startups in the biotechnology and/or social sector the period shall be up to ten years)
  • Not have exceeded a turnover of Rs.25 Cr in any of the financial years since its incorporation/registration
  • Be working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.
  • Furthermore, startups must have a “minimum viable product” and be ready to demonstrate “proof of concept”. Idea-stage ventures shall not be considered at this point.

What is the timeline?

Applications are open until 11:59pm on 12th Jan 2019.

All applicants shall be notified of the results on 21st Jan 2019.

From 28th Jan to 1st Feb 2019, the 100 finalists will make a pitch to an esteemed panel of Government officials, investors, incubators, and experts from industry and academia.

In the 6 to 12 months following the event, 24 startups will receive support from the Government in deploying their solutions and demonstrating proof-of-concept.

What are the focus areas?

Startups in sectors that align with the mandate of the Government will be given a preference. Accordingly, seven sectors have been identified along with an additional eighth miscellaneous category for startups.

  • Education & Skills
  • Agriculture
  • Healthcare
  • Infrastructure & Mobility
  • Sustainability (i.e. Clean Energy, Water Conservation, and Waste)
  • FinTech / Financial Inclusion
  • Governance
  • Miscellaneous

What are the benefits of applying to the Maharashtra Startup Week?

24 startups shall receive Government work orders of up to Rs.15 lakhs each. The Government shall provide startups with access to personnel, data and other means of handholding while the startups pilot their solutions over a period of 6 to 12 months.

Additionally, the Maharashtra State Innovation Society (MSInS) shall partner with multiple investors and incubators for the purpose of the Startup Week. These partner organisations shall consider the top 100 finalists for funding and mentorship. Select startups apart from the 24 winners shall also avail benefits like access to exhibition space and networking with VCs/ ecosystem partners, access to specific ecosystem events, free credits from our partners, international linkages and any other benefits as decided by MSInS.

Startups will be evaluated on the following parameters

  • Unique Value Proposition
  • Leadership Team
  • Social Impact
  • Sustainability & Scalability
  • Relevance for government
  • Technology Advantage (if any)

Post screening, 100 startups will be shortlisted for the pitches which will take place during the Startup Week. The shortlisted startups will pitch to a panel that includes relevant government department officials, industry, academia and investors.

The shortlisted startups would be allowed 10 minutes to present their pitch and another 10 minutes for any Q&A. The results will be declared on the last day of the Startup Week.

For more information please check the Link

 

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