New Delhi, Aug 12 (KNN) The Ministry of Textiles in collaboration with Startup India and Invest India has invited applications for Handloom Startup Grand Challenge.

According to the details mentioned on Startup India website entries can be submitted till September 7, 2022.

The Handloom Startup Grand Challenge is aimed at enhancing technologically developed handlooms by welcoming innovative and cost-effective solutions from youngsters associated with the world of startups and the theme is 'Handloom, Textiles and Apparel'.

Participation is open for entrepreneurs, students of IIHTs and other educational Institutions/Universities, Innovators, researchers across India and as well as companies incorporated under the Companies Act 1956/2013, primarily a MSME as defined in the MSMED Act, 2006.

Any company registered as a Start-up can apply but as defined, and recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) and the majority stake (more than 51%) of the applicant entity must be held in India.

In view of incentives three cash prizes of Rs 3,00,000, Rs 2,00,000 & Rs 1,00,000 for top 3 winners will be given respectively from amongst the participants.

Three consolation prizes of Rs 75,000 for any 3 Start-ups selected by team of jury/experts will be given and will be shared only on the jury’s discretion.

The Challenge also intends to at provide better quality handloom items to the customers with the reduced stress for weavers during handloom weaving.  (KNN Bureau)