Applications Invited for Fisheries Startup Grand Challenge

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About the Organization

Startup India is a flagship initiative of the Government of India, intended to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India.

Launched on 16th January, 2016, the Startup India Initiative has rolled out several programs with the objective of supporting entrepreneurs, building a robust startup ecosystem and transforming India into a country of job creators instead of job seekers. These programs are managed by a dedicated Startup India Team, which reports to The Department for Promotion of Industry and Internal Trade (DPIIT)

About the Grant

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 fisheries 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.

Problem Statement:

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.

Incentives:

Fiscal Incentives

• Cash Grants for 12 startups worth INR 2 Lakhs each
• Incubation Support for up to 10 startups for 9 months

Non-Fiscal Incentives

• Masterclasses for shortlisted startups

Special Incentives

• 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.

Eligibility

• 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

How to Apply

For more information please check the Link

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Tags Entrepreneurship Food, Agriculture and Nutrition Innovations and Technology Others