Department of Industrial Policy and Promotion (DIPP) has partnered with US chip major Qualcomm to organise a startup contest in the Make In India Week which is scheduled to take place from Feb 13-18 at Mumbai.
The startup contest will look for the best startup idea searching for entrepreneurs who can innovate and add value.
The winner will receive an equity funding of INR 2 crores from Qualcomm to implement their idea and bring it to reality. The contest will be open for the entries from Thursday this week and the entries can be submitted till February 12, one day before the event begins.
This would be the biggest ever contest for startups in the country. We plan to invite all budding entrepreneurs and shortlist the best ideas to be a part of Make in India’s best startup contest,
said a senior government official.
Make In India Week is one of the many initiatives, the Government is undertaking under the purview of Make In India and Startup India Standup India program, to boost the overall entrepreneurial environment and startup ecosystem within the country. Apart from the digital and Internet services startups, the Government wants to focus on improving the manufacturing scene in the country under its Make In India program.
PM Modi has been aggressively working towards promoting this initiative on his numerous foreign trips, the Silicon Valley trip being the most crucial in that regard, where he pitched his ideas in front of top CXOs of the tech world. In fact, Qualcomm was one of the first valley giants to come up and announce a special $150 Million fund for investing in Indian startups.
The action has already started in the year 2016 beginning with the major event of Startup India Standup India which took place last month where the Government announced a series of initiatives and reforms to ease the doing of business in the country.
Make In India week scheduled later this month is speculated to be the biggest Government event yet. It will take place at a specially-created exhibition facility at Mumbai’s Bandra Kurla Complex. The faciliy is spread over 2.5 lakh square metres — equivalent of around 50 football fields.
According to the organisers, the event is supposed to showcase manufacturing opportunities across sectors and many top CEOs are expected at the event including those of Volvo, BAE Systems, and Airbus. The event will see 13-18 seminars taking place every day with at least 5,000 people expected in the BKC facility.