STPI to support local startup ecosystem with Rs 25 Lakh of Seed funding

Last Updated: Thursday, 27 August 2020 (21:05 IST)
The (STPI) Bhopal organized an outreach webinar on Thursday , 27 th of August, 2020 for Next generation Incubation Scheme (NGIS) which has been formulated and conceptualized to boost the local start up ecosystem working in
12 tier-II locations across India and Bhopal has been selected as one the location for this scheme.
While delivering the key note address at the outreach webinar , Dr Omkar Rai, Director
General said that NGIS is a futuristic scheme which offers comprehensive support
and benefits to technology start ups from various STPI centre PAN India under one common Umbrella. He further said that the basis of the scheme is to support 300 start ups/ entrepreneurs with infrastructure , mentorship, legal compliances , IPR , market connect , and upto RS 25 Lakh per start up.
Shri Devesh Tyagi , Sr. Director STPI-HQ elaborated on various aspect of start up eco system and urged start up and innovators to take part in this NGIS challenge “Chunauti” and leverage the benefit of the scheme.
Shri Subodh Sachan , Director STPI HQ and CEO , STPINEXT INTIATIVES explained about the online challenge contest “CHUNAUTI” which aims to seek software product and solutions from budding start ups and entrepreneurs to address the issues faced during and past post pandemic situation such as education, agriculture, finance, logistics and skilling among others. He also clarified the queries of the participants present in the event. The selected start-ups will have access to STPI’s nationwide mentor pool apart from local mentors.
Shri Nemesh Singh, Chief Mentor for NGIS Bhopal and CEO of Appointy Bhopal spoke about his start up journey and explained the different challenges a start up faces during the start up journey. He pointed out that right mentoring plays more important role than funding and it is highly difficult for any start up to be successful without the guidance and support of mentors who themselves have faced and came out through these challenges.

He further said that NGIS has all the required support to nurture a budding start up to a
successful enterprise.Shri Pradeep Karambelkar, Founder and Director Vision Advisory Group & VASPLIntiatives, Bhopal , who is also one of the mentor said that commitment and passion is the key for success and getting right direction is the most important aspect. He also spoke about the importance and need of incubator and accelerator which not only provide mentoring and financial assistance but also various other service like sustainable business
development model , Legal and statutary compliance, CA service & taxation, matter
related to GST and its compliance and market connect which is very much required for
making a successful venture.
Shri Yogesh Khakre who is COO of B Nest under Bhopal Smart city development project spoke about start ups stationed at B- Nest and their contributions in creating innovative product for Bhopal smart city. The NGIS presentation was given by Shri Ravi Varma, Additional Director & OIC-Madhya Pradesh who illustrated about the salient feature of NGIS and CHUNAUTI online challenge contest. The event was moderated by Shri S. H. Abbas Mehdi, Joint Director, STPI –Indore and participated by huge numbers of start ups, entrepreneurs, academicians, researchers and students at large.
The last date for applying for “CHUNAUTI” online challenge is 7 th of Septemberand start ups can visit the website for details.