National Startup Awards 2020 | UPSC

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National Startup Awards 2020 | UPSC

National Startup Awards 2020 | UPSC

      HEADLINES:

Declaration of Results of National Startup Awards 2020

      WHY IN NEWS:

Hot from PIB !

MINISTRY? :- Ministry of Commerce & Industry
SYLLABUS COVERED: GS 1 : Awards

      LEARNING: 

For PRELIMS keep an eye on the categories and evaluation parameters . Do not forget the ministry !

For MAINS do you think startup eco-system need a push post-pandemic period ?

      ISSUE: 

The Results of the National Startup Awards 2020 were released by Minister of Railways and Commerce & Industry Shri Piyush Goyal .

NATIONAL STARTUP AWARDS 2020

AIM

  • This is to reward outstanding Startups and ecosystem enablers that are building innovative products or solutions and scalable enterprises.

These startups have high potential of employment generation or wealth creation, demonstrating measurable social impact.

  • The measure of success is not only the financial gains for the investors, but also the contribution to social good.

CO-ORDINATED BY

  • The Department for Promotion of Industry and Internal Trade (DPIIT) has conceived the National Startup Awards to recognise the Startups.

FOCUS

Apart from these, startups are to be selected from those which create impact in rural areas, are women-led and founded in academic campuses.

  • A total of 1641 applications were received from startups spread across 23 States and 4 Union Territories.
  • These applicants included 654 Women-led, 165 academic institution based and 331 startups working in rural areas.
  • Twelve broad sectors are identified under this award.

THESE 12 SECTORS ARE

  1. Agriculture
  2. Education
  3. Enterprise
  4. Technology
  5. Energy
  6. Finance
  7. Food
  8. Health
  9. Industry 4.0
  10. Space, Security
  11. Tourism
  12. Urban Services.

COMPETITION

  • After three rounds of detailed evaluation, 199 startups were selected for presentation before the jury.
  • 192 out of these made presentations before the 15 specialist jury panels, which comprised of domain experts from industry, investors and government.

The recognised entities will benefit from such recognition in terms of being able to attract more business, financing, partnerships and talent
 

  • But also enable them to serve as role models for other entities, and to inspire them to be purposeful and responsible about their socio-economic impact.

EVALUATION CATEGORY

All applicants were evaluated against six broad parameters namely

  • Innovation
  • Scalability
  • Economic Impact
  • Social Impact
  • Environmental Impact
  • Inclusiveness and Diversity.

PRIZE

  • The winning Startups will get cash prizes of Rs 5 lakh each.

Along with opportunities to present their solutions to relevant public authorities and corporates, for potential pilot projects and work orders.

  • As key building blocks of a robust Startup ecosystem, one exceptional Incubator and one Accelerator each will get a cash prize of Rs 15 lakh.

National Startup Awards 2020 | UPSC

IMPACT

  • The startups are going to play important role in many strategic sectors.
  • 31 applications were received from incubators and 10 applications were received from Accelerators.

9 incubators and 5 Accelerators were selected after three rounds of evaluation for presentation before Jury Panel.

  • The felicitation ceremony was accompanied by the release of an e-Report on National Startup Awards 2020 .
  • The ‘Startup India Showcase’ and ‘Blockchain-based Certificate Verification System’ were also launched during the event.

STARTUP INDIA SHOWCASE

The ‘Startup India Showcase’, a part of the Startup India portal, is intended to be an online discovery platform for the most promising startups of the country.

  • The startups showcased here shall be handpicked by experts and will span across different sectors like FinTech, EdTech, Social Impact among others.
  • The showcase will help industry, investors and public authorities find and connect with startups for potential partnerships, investments and public procurement respectively.
  • This showcase will help the ecosystem connect with them better while also serving as an inspiration.

BLOCKCHAIN-BASED CERTIFICATE VERIFICATION SYSTEM

The ‘Blockchain-based Certificate Verification System’ will enable instant verification and access to certificates of recognitions issued by DPIIT.

  • This feature introduces an added layer of security to the startup certificates.
  • It can be accessed by Government Departments, procurement entities, investors, and other third parties to verify status of recognized startups for accessing different opportunities.

      IASbhai WINDUP: 

  • The Department for Promotion of Industry and Internal Trade (DPIIT) has conceived the first ever National Startup Awards.

These are to recognize and reward outstanding Startups and ecosystem enablers that are building innovative products or solutions and scalable enterprises.

  • These startups have a high potential of employment generation or wealth creation, demonstrating measurable social impact.
  • These awards are not only the recognition and celebration of the new Eco-system but will also encourage the startup fraternity to aim for the sky.
SUGGESTED READING : https://we.tl/t-9JSi29aCyg 
     SOURCES:THE HINDU & PIB | National Startup Awards 2020 | UPSC

 

DISCOVER MORE : GS-1

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