Introduction
As a result of the milestones achieved by the Start-up India Initiative, a culture of invention and entrepreneurship has taken root throughout the country. In order to commemorate the efforts of the start-ups, a system for National Start-up Award was initiated. These Awards were initiated with the objective to help the country’s start-up ecosystem become even stronger.
Significance of National Start-up Awards
- The National Start-up Awards 2021, imbibed the philosophy of recognizing and rewarding outstanding start-ups and enablers who have demonstrated exceptional capabilities not just in terms of financial gains, but also for the measurable impact on society, with 2177 start-ups from 49 sectors of the economy, as well as 53 incubators and 6 accelerators, taking part in the awards.
- 46 start-ups, 1 incubator, and 1 accelerator as winners in their respective categories were facilitated on 15th January 2022 as part of the Start-up India Innovation Week, which also saw the announcement of the National Start-up Day on January 16th. Six new categories were also created to honour remarkable Start-ups that are making a positive impact on society.
- In addition, excellent Start-ups creating solutions to promote Indic languages and aid government efforts to battle the COVID-19 epidemic were acknowledged in the 2021 edition of the awards.
Eligibility Criteria for Start-ups in National Start-up Awards 2022[1]
For Start-ups
- The start-up should be a DPIIT recognized start-up. The entity must submit their certificate of incorporation or partnership deed.
- 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 entities.
- In case your start-up is less than 3 years old, please upload all available financial statements. Start-ups which are less than a year old and do not have audited financials, will be exemption from this requirement. In case of non-availability of audited financials for FY 20-21, provisional statements issued by chartered accountant may be provided.
For Incubators
- The incubator should be structured as an independent entity – a company, a public trust, or a society.
- The incubator should be operational at least for two years as on 1st January 2022.
- The incubator must have successfully graduated a minimum of 15 start-ups.
For Accelerators
- The accelerator should be structured 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.
- The accelerator must have successfully graduated a minimum of 10 start-ups.
Conclusion
The National Start-up Awards potentially acknowledge start-ups and enablers who have been instrumental in revolutionising the development story of India. Further awards act as a good incentive for the start-ups in developing innovative solutions and creation of Jobs in India.
[1] https://www.startupindia.gov.in/content/sih/en/nsa2022.html
