National Startup Awards will acknowledge startups and enablers who have been instrumental in revolutionizing the development story of India and hold within them the power and potential to enable Prime Minister Modi’s vision of activating India 2.0, fueled by the spirit of Atma Nirbharta Bharat. The first National Startup Awards were announced in 2020 and witnessed applications from over 1,600 startups and ecosystem enablers across India. The recently concluded NSA 2021 saw participation from over 2,200 startups and ecosystem enablers.
After conducting two successful editions, the awards are open for applications. The candidates who are interested to participate in the awards should visit their official website for online registration and this article will provide each and every detail about its objective, benefits, eligibility criteria, documents required for the application form, and much more.
What Is National Startup Awards 2023?
The Department for Promotion of Industry and Internal Trade (DPIIT) has launched the third edition of the National Startup Awards. It is launched to recognize and reward outstanding startups and ecosystem enablers that have demonstrated exceptional capability not just in terms of financial gains but also for the miserable impact on society. Under NSA Awards 2022 which is the third edition of the program is inviting applications across 17 sectors, 50 sub-sectors, and 7 special category startups. The awards will also reward exceptional incubators and accelerators as key building blocks of a robust startup ecosystem. A cash prize of INR 500000 will be awarded to each winning startup. The winner and runner-up will also be given an opportunity to present their solutions to relevant public authorities and corporations for potential pilot projects and work orders and teaching opportunities with investors.
Key Highlights of National Startup Awards
|Conducted by||The Department for Promotion of Industry and Internal Trade|
|Name of Awards||National Startup Awards 2023|
|Objective||Aims to cover the flagship scheme launched by the Government of India|
|Benefits||The winner gets a cash prize|
|Eligibility Criteria||The startup should be a DPIIT-recognized startup|
Objective of National Startup Awards
The primary objective of the awards is to recognize and reward outstanding startups with high potential for employment generation or wealth creation, demonstrating measurable social impact.
- The award aims to cover flagship schemes launched by the government of India through innovations in corresponding areas by solving community problems at large.
- it will also focus on ESG practice, climate change and other sustainability initiatives such as- blue economy, green economy, Sustainable Tourism, digitalization etc.
- The award also aims to look beyond the traditional thought process of measuring the success of a Startup i.e. funding, financial gains for investors etc. to parameters such as a benefit for the society, solving a key problem with some innovative solution, developing some innovative solution which is a paradigm shift in the approach in the factors of sector and creation of jobs in the country.
Benefits of National Startup Awards
- The winning startup founder will get a cash prize of upto 5 lakh.
- The winner and the finalist shall allow to present their solutions to relevant public authorities and corporate for potential pilot projects and work orders.
- The winner and finalist are given priority for participation in various National and International startups events which are sponsored by DPIIT.
- The recognized entities will benefit from national-level recognition
- The recognized entities being able to attract more business, financing, partnerships, and talent
- The winning startup will serve as a role model for other entities and budding entrepreneurs
- To inspire budding entrepreneurs to be purposeful and responsible about their socio-economic impact
Prize Details of Awards
Following prizes that shall be awarded to Startups, Incubators, and Accelerators
Prize for Startups
- A cash prize of INR 5 lakhs shall be awarded to one winning startup in each of the subsectors
- As mentioned above, the winner and the finalists shall be allowed to present their solutions to relevant public authorities and corporates for potential pilot projects and work-orders
- The winners and finalists shall be given priority for participation in various national and international startup events sponsored by DPIIT
- A cash prize of INR 15 lakhs shall be awarded to one winning Incubator
Prize for Accelerators
- A cash prize of INR 15 lakhs shall be awarded to one winning Accelerator
Rules for National Startup Awards
- Startups/ Incubators/ Accelerators who have won in any category in any previous National Startup Awards will not be eligible
- One startup can nominate itself in maximum 2 categories
- Finalists may be subject to a legal due diligence review by independent third-party evaluators. If the individual/ organization refuse such a request, Startup India holds the right to select the next highest scoring nominee as the award winner
- By participating in the National Startup Awards, the startups, nominator, ecosystem enablers agree to the Government of India’s and its partners use of its name, URL, photos, and videos for promotional purposes on its website and other promotional material
- The decisions of the jury and the implementation committee shall be final and binding. At the discretion of the jury, awards may not present in any sector or sub-sector if a deserving entity is not found
- Allowances shall not pay to any entity for travel or presentation before the jury
Eligibility Criteria for National Startup Awards
The eligibility Criteria for applying National Startups Award is as follows:
- Eligibility Criteria for Startups
- The startup should be a DPIIT recognize startup
- The entity must have a hardware or software product or a process solution that is present in the market.
- The entity must have all applicable trade trade-specific registrations (example: CE, FSSAI, MSME, GST Registration, etc.
- There should not have been any default in the last three years (FY 2018-19, 19-20, 20-21) by the entity or any of its promoters or any of their group
Eligibility Criteria for Incubators
- The incubator should structure as an independent entity – a company, a public trust, or a society.
- An incubator should be operational at least for two years as of 1st January 2022.
- The incubator must have successfully graduated a minimum of 15 startups
Eligibility Criteria for Accelerators
- The accelerator should structure as an independent entity-a Company, a Public trust, or a Society
- The accelerator should be operational at least for two years as on 1st January 2022
- An accelerator must have successfully graduated a minimum of 10 startups
The startup needs to upload the following documents for applying National Startup Awards
Documents for Startups
- Certificate of Incorporation/Partnership deed
- The entity must submit its certificate of incorporation or partnership deed.
- In case the startup is less than 3 years old, please upload all available financial statements.
- Partnership deed or other government accepted proof as proof for a woman founder (if applicable)
- PAN card for founder/ co-founder
- Aadhaar card for founder/co-founder
- Startup Pitch Deck (Not more than 10 slides)
- Trade specific registrations
- Audited financial statements for the past 3 years (P&L Statement + Balance Sheet + IT Return)
- Proof – In case of applying in a special category (women-led startup OR campus startup OR impact in the rural area OR potential for import substitution OR Innovation for COVID-19 (preventive, diagnostic, therapeutic, monitoring OR content delivery in Indic languages)
- 120 seconds video explaining your product or service (this video cannot be a YouTube link; it has to be for application to National Startup Awards). The video should cover – the business model, scalability, innovation, and social & economic impact on the environment.
Documents Required for Incubators and Accelerators
- Certificate of incorporation
- PAN card for organization
- The last date to register for the awards will update soon
Application Procedure for National Startup Awards 2023
- The applicant first registers their startup on startup India and obtains DPIIT recognition.
- If you have already registered on startup India and have a DPIIT number, ensure that all the details given on Startup India registration are correct as certain fields will auto-populate in the application form.
- After that, you have to visit the National Startup Awards’ official website.
- The home page on a screen where you have to click on the “Apply Now” link.
- After that a new page will open on your screen where you have to click on “Apply as Startup“.
- Now the application page with open on your screen where you have to enter your details which are below:
- Sub sector
- DPIIT recognition number
- Company name
- Brand name
- Applicant name
- E-mail ID
- Mobile number
- Founders name
- Founders email, etc.
- After filling all the details correctly click on the submit button for the final submission of the application form.
Obtain DPIIT Recognition
- Open the official website of startup India.
- The homepage of the website will open on the screen.
- Now from the homepage, go to the DPIT Recognition option.
- A new page will open on the screen.
- Read the available details carefully.
- After that, click on the “Click here for submitting your application for recognition as a Startup” option.
- A login form will open on the screen.
- Enter the login details if you have registered before
- If you are not already register, then click on the register now option and get yourself register.
- After that, enter the login details and get log in successfully.
- Provide further details in the application form and get yourself to recognize
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