The NextGen Startup Challenge was launched by Minister of Electronics and IT, Ravi Shankar Prasad, in August 2020. The objective of the initiative is to identify and support solutions for sectors and domains that have emerged as a priority in the post-pandemic world.
As many as 42 startups cutting across multiple domains including edtech, agritech, and fintech, have been selected in 'CHUNAUTI' screening contest and will now be eligible for benefits under the Next Generation Incubation Scheme, a top STPI official said on Tuesday.

Software Technology Parks of India (STPI) Director General, Omkar Rai, told PTI that these startups were selected through a rigorous process and screened through multiple rounds that included presentation of business plans, innovative ideas, feasibility of the concept before a panel of eminent experts, including key industry representatives.
Over 6,700 applications had been received, about 1,820 applications qualified and 111 applicants were selected for the presentation round.
In the final selection round which concluded recently, 42 startups were chosen in domains such as edtech, agritech and fintech solutions for masses (18 startups), infrastructure and remote monitoring (8), jobs and skilling, linguistic tools and technologies (4), medical healthcare, diagnostic, preventive and psychological care (5), and supply chain, logistics and transportation management (7).
The Next Generation Incubation Scheme (NGIS) is being executed by STPI, which is an organisation under the Ministry of Electronics and IT. NGIS aims to identify, in all, around 300 startups (over three years) working in identified areas, and provide them with a seed fund of up to Rs 25 lakh and other facilities.

The government has earmarked an amount of about Rs 95 crore over three years for the programme. More startups will be onboarded through the duration of the scheme.
"We have picked up 42 startups finally for onboarding under `CHUNAUTI', which is a screening process for selecting young entrepreneurs. The scheme is Next Generation Incubation Scheme, and CHUNAUTI was the shortlisting process," Rai said.
The scheme "enthused" young entrepreneurs in smaller towns, and is expected to foster an enabling environment of entrepreneurship in Tier II and III locations.

"The response was overwhelming, despite the backdrop of the pandemic. Given the response this time, we expect the next phase to be even more exciting," Rai pointed out.

The selected startups will be incubated by STPI and provided with stipends/seed funding and other facilities to set up their venture. The scheme has more than 125 mentors and 46 knowledge partners.

"These 42 startups are just the beginning, and on average we will host 100 startups every year...," Rai said.

The NextGen Startup Challenge was launched by the Minister of Electronics and IT, Ravi Shankar Prasad, in August 2020. The objective of the initiative is to identify and support solutions for sectors and domains that have emerged as a priority in the post-pandemic world.

NGIS is focused on 12 Tier II locations in the country -- Agartala, Bhilai, Bhopal, Bhubaneshwar, Dehradun, Guwahati, Jaipur, Lucknow, Prayagraj, Mohali, Patna and Vijayawada.

Startups pan-India could apply and become NGIS beneficiary. Each NGIS location has a dedicated chief mentor along with a 'mentor pool' and knowledge partners.

The services offered by NGIS to its beneficiaries include physical infrastructure (including state-of-the-art incubation and dedicated Software Product Security Testing facility), mentoring, access to VCs for funding support, advisory services (such as HR, Legal, Accounting, IPR/Patenting) along with financial incentives like the seed funding of up to Rs 25 lakh.

NEW DELHI: The value of software exports by units registered under STPI is estimated to have risen over 7 per cent to cross Rs 5 lakh crore during 2020-21, as rapid digitisation and the IT industry's timely switch to remote working for employees helped sustain growth tempo even amid the pandemic, according to available data. The exports for STPI stood at about Rs 4.66 lakh crore in 2019-20.

As per preliminary data by the Software Technology Parks of India (STPI), exports by these units are estimated to be 5.01 lakh crore in the just-concluded fiscal.

"The growth is usual range of 6-7 per cent as per preliminary data and that is good and encouraging.
"Work-from-home processes backed by enabling policies, the digital nature of functioning of the IT sector helped companies to continue their operations and sustain services they were rendering, while greater digital initiatives by clients drove demand and growth," STPI Director General Omkar Rai said.

STPI expects growth to continue in 2021-22.

"For 2021-22, we expect this space to grow despite the ongoing pandemic-related uncertainties. The digital nature of the IT industry will enable it to overcome the pandemic challenges," he said.

The adoption of IT has surged amid the current crisis. "If legacy industries face issues, they are bound to turn more to IT and digitisation to sustain. And, so, computerisation and digitalisation are expected to keep the software industry competitive and help it grow," Rai said.

STPI is an autonomous society set up by the Ministry of Electronics and Information Technology in 1991, with the objective of encouraging, promoting and boosting the software exports from India.

By implementing Software Technology Park (STP) and Electronic Hardware Technology Park (EHTP) schemes, STPI focuses on building an enabling ecosystem to provide single-window clearance services, reliable internet connectivity, incubation facilities and other infrastructure services to encourage  ..

STPI aims to foster a conducive environment for start-ups, backed by projects and initiatives such as establishment of Centres of Excellence in emerging technologies and execution of the Next Generation Incubation Scheme (NGIS).

Notably, STPI recently said that as many as 42 start-ups cutting across multiple domains, including ed-tech, agri-tech and fintech, have been selected in screening process for NGIS scheme.

Over 6,700 applications had been received, about 1,820 applications qualified and 111 applicants were selected for the presentation round.

The 42 start-ups that were chosen finally were from domains such as ed-tech, agri-tech and fin-tech solutions for masses (18 start-ups); infrastructure and remote monitoring (8); and jobs and skilling, linguistic tools and technologies (4).

Five were from medical healthcare, diagnostic, preventive and psychological care; and seven supply chain, logistics and transportation management.

The Next Generation Incubation Scheme or NGIS aims to identify, in all, around 300 start-ups (over 3 years) working in identified areas and provide them with a seed fund of up to Rs 25 lakh and other facilities.

The government has earmarked an amount of about Rs 95 crore over 3 years for the programme. More start-ups will be onboarded through the duration of the scheme.