“We will have live voting to select the best startup idea…we are looking for entrepreneurs who can innovate, create value,“ a senior official said. The contest will open on February 4 and DIPP will accept entries till February 12.
Prime Minister Narendra Modi launched the Startup India initiative in January and announced a string of incentives for the new enterprises to get greater access to capital, incubation and talent. During the event, Google held a similar contest on a smaller scale, awarding the winner with a credit of $100,000.
“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,” another senior government official said. DIPP expects at least 1,000 entries. The Make in India Week will be held from February 13 to 18. The government wants startups to move from the digital and IT sectors to areas such as manufacturing to help generate jobs.
The Make in India plan identified 25 focus areas, including textiles, leather, gems and jewellery.
The Make in India Week event is the government’s attempt at making a worldwide investment pitch for the manufacturing sector and provide a bigger role for the country in the global supply chain.
India is considered to be the third-biggest startup community in the world with 4,200 enterprises, after the US and the UK. According to the National Association of Software and Services Companies, India’s startups have created more than 80,000 jobs so far. By 2020, over 11,500 startups are expected to create 250,000 jobs, Nasscom said.
Source: The Economic Times
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