Startup India invites applications for fisheries grand challenge; to offer seed grant of Rs 2.5 cr

New Delhi, Feb 17 (KNN) Under the Startup India initiative, the government has invited applications for fisheries grand challenge. It will give out few special incentives such as seed grant of Rs. 2.5 crore for upto 10 startups.

The application end date is 26th February, 2022 and the results will be announced on 28th March, 2022.

Enhancing quality of production in fisheries and aquaculture sector, and designing and developing infrastructure solutions are some of the problem statements. 

It also includes innovative branding and solutions for combating environmental issues related to the sector. 

The challenge is open to DPIIT recognized Startups working in the areas indicated in the problem statements.

It should also have a minimum viable product or service with a market fit, viable commercialisation, and scope of scaling

Department of Fisheries (DoF), through its partnership with Startup India aims to identify and support innovations and startups working in the aquaculture and fisheries sector to accelerate the growth of this sector.

In view of fiscal incentives, cash grants for 12 startups worth Rs 2 Lakhs each will be rewarded. 

It will also provide Incubation Support for up to 10 startups for 9 months.

Some of the non-fiscal incentive include Masterclasses for shortlisted startups.

As per the PMMSY guidelines, Govt assistance of upto Rs 20 lakhs for general category or upto Rs 30 lakhs for SC/ST/Women category will be provided against a unit cost of Rs 50 lakhs, subject to certain conditions. (KNN Bureau)