Maharashtra Startup Week 2021
Maharashtra Startup Week 2021
The Maharashtra Startup Week 2021 is organized by the Maharashtra State Innovation Society (MSInS) to encourage, engage and enable the state’s entrepreneurial ecosystem. All startups from across the country that conform to the criteria defined in the Maharashtra State Innovative Startup Policy 2018 are eligible to apply for this program. The best 24 startups will be selected as winners and receive work orders of up to Rs 15 lakh from the Maharashtra State Innovation Society to pilot their solutions within different state departments. The current article briefs the Maharashtra Startup Week 2021.
The objective of Maharashtra Startup Week
The key objective of this program is to provide startups with a platform to showcase their innovative solutions to the Government of Maharashtra.
Eligibility Criteria for Startups
All startups from across the country that conform to the criteria defined in the Maharashtra State Innovative Startup Policy 2018 are eligible to apply. Accordingly, a startup must:
- Be incorporated as a private limited company (as defined in the Companies Act, 2013) Or registered as a partnership firm (under Section 59 of the Partnership Act, 1932) OR as a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India
- The Startup have been incorporated/registered within the last seven years (in the case of startups in the biotechnology and/or social sector the period shall be up to ten years)
- The Startup’s turnover should not have exceeded Rs.25 Crore in any of the financial years since its incorporation/registration
- The Startups should be working towards innovation, development, or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.
- Furthermore, startups must have a “minimum viable product” and be ready to demonstrate “proof of concept”. Idea-stage ventures shall not be considered at this point.
Startups in sectors that align with the mandate of the Government will be given a preference. Accordingly, seven sectors have been identified along with an additional eighth miscellaneous category for startups. Startups from the following sectors are invited to submit their applications for Maharashtra Startup Week 2021.
- Smart Infrastructure
- Sustainability – Clean Energy
- Sustainability – Waste Management
- Sustainability – Water Management
Benefits of Maharashtra Startup Week 2021
For startups, this is a one-of-a-kind opportunity to engage directly with the Government and will open doors to scale their solutions further and mitigate development challenges.
- The winners of the startup week will receive work orders of up to Rs 15 lakh from the Maharashtra State Innovation Society to pilot their solutions within different state departments
- The winners also receive support in terms of access to government machinery and mentoring from their institutional partners for a period of up to 12 months to deploy their solutions on the ground
- The Maharashtra State Innovation Society (MSInS) shall partner with multiple investors and incubators for the Maharashtra Startup Week. These partner organizations shall consider the top 100 finalists for funding and mentorship.
- Selected startups apart from the 24 winners shall also avail benefits like access to exhibition space and networking with VCs/ ecosystem partners, access to specific ecosystem events, free credits from our partners, international linkages, and any other benefits as decided by MSInS.
Selection of Startups for Maharashtra Startup Week 2021
The startups will be evaluated on the following parameters for Maharashtra Startup Week 2021
- Unique Value Proposition
- Leadership Team
- Social Impact
- Sustainability & Scalability
- Relevance for government
- Technology Advantage (if any)
Post-screening, 100 startups will be shortlisted for the pitches which will take place during the Maharashtra Startup Week. The shortlisted startups will pitch to a panel that includes relevant government department officials, industry, academia, and investors.
The shortlisted startups would be allowed 10 minutes to present their pitch and another 10 minutes for any Q&A. The results will be declared on the last day of the Maharashtra Startup Week.
TimeLine of Maharashtra Startup Week
|Application Opens||May 12th, 2021|
|Deadline to Apply||June 15th, 2021|
|Announcement of Shortlisted Top 100 Startups||July 2021|
|Maharashtra Startup Week 2021||August 9th-13th, 2021|
|Announcement of 24 Winners of Maharashtra Startup Week 2021||August 13th, 2021|
Following documents may be needed to complete business profile registration in the Maharashtra State Innovation Society web portal.
- DPIIT Recognition Certificate
- Company PAN Card
- Udyog Aadhaar
- Company GSTIN
- Company Registration ID and Incorporation Certificate
- Company Pitch Deck/Presentation
The application procedure to apply for Maharashtra Startup Week 2021 is as follows:
- The eligible startups are required to access the official website of Maharashtra State Innovation Society and click on the ‘Apply for Maharashtra Startup Week 2021’ option.
- The link will redirect to a new page, now click on the apply option to proceed further.
- To apply for Maharashtra Startup Week, registration with Maharashtra State Innovation Society (MSInS) is mandatory. The applicant needs to click on the Register Now option.
- Fill in all Details and Captcha. In the User Type drop-down box, select the appropriate category (E.g.: to register as a startup company, please select “startup”. After you have filled in the required information, click on “Register”.
- Applicant must have now received an email for verification. Open the email and click on the “Verify” button. The applicant will be redirected to the website with a message “Verification Completed”
- Click on the ‘Login’ button and enter the registered Email ID and Password.
Creation of Business Profile
The next screen will prompt you to create a business profile. Provide the following details about the startup.
- Personal and Basic details
- Team information
- IP and Business Model details
- Financial details
Note: Completion of Business Profile is mandatory to complete registration with MSInS
Once all the sections in the Business Profile are complete, the startup is registered with MSInS and the applicant can see a dashboard on logging in to the MSInS account. On the left side of the screen, the applicant see Maharashtra Startup Week 2021’ programs offered by MSInS
Apply for Maharashtra Startup Week
Click on the Maharashtra Startup Week 2021 option offered by MSInS and provide all mandatory details and upload all documents.
With the help of multiple ecosystem partners, the top 100 startups will be selected to present their solutions to an esteemed panel of judges comprising representatives from the government, industry, academia, and investors.
During the week-long event, startups from each sector make their pitch to a panel consisting of senior government officials, industry experts, academicians, and corporate partners. The best 24 will be selected as winners.