QRate Card for Startups
QRate Card for Startups
To strengthen the potential of startups, the Government of Rajasthan has launched QRate – Startup Assessment Program. Under the program, startups will be assessed on multiple parameters of business and provided with a detailed QRate Card (Scorecard) and assessment report on their strengths and weaknesses. QRate rate cards are issued based on the score achieved on the Assessment Program. QRate Card works as a catalyst in encouraging the existing and new entrepreneurs of the state. In this article, we will look at the QRate Card for Startups in detail.
Benefits of QRate Card
The benefits of obtaining the QRate Card for Startups are explained in detail below:
- QRate – Startup Assessment Program helps the startups to sharpen the business plans and investor pitch decks
- QRate – Startup Assessment Program is open to startups across India. The entrepreneur need not be based in Rajasthan
- The scorecard improves the chances of getting funded.
- The QRate card helps the startup to easily share the profile with investors.
- Once the entrepreneurs obtained the QRate Card for startups, they can connect with more Venture capital and Investors through the Investor Connect Programme.
- QRate is working as stimulation for the Startups to further work on the strategies and business plan and escalate the category.
Categories of QRate Cards
QRate rate cards are issued based on the score achieved on the Assessment Program. The Categories of QRate Cards for startups is listed as follows:
The bronze card is the lowest value QRate card. If the startup is provided with Bronze Card which indicates that the startup team has a lot of work to do to sharpen the business plan.
The startups having the Silver Card can participate in online group learning sessions. The silver cardholder can also attend the webinars.
The startups having the gold card will have a direct approach to one-on-one interventions. The startups will have the possibility of getting a dedicated lead mentor.
Startups having will be presented to investors and the startups will be assisted in making connections to the potential customer.
Once the startup is provided with the Signature Card, it is eligible to access all facilities of the QRate program. The startup with this highest level Qrate card will be provided with the celebrity status.
Assistance Program for Startups with 60% Score
If startups have obtained 60% of the score in QRate – Startup Assessment Program, such startups can join in the Startup Assistance Program and get the following benefits:
- The startup can attend a two-day workshop conducting by the Government. The workshop will be based on the different aspects of building a business.
- Based on the assessment report, a detailed action plan will be issued to the Startup to improve the chances of success
- The startups can easily connect with the experienced mentors and startup experts to refine the business plans and investor pitch decks
- The weekly review will be conducted to assess the progress of the startups to reach the milestones
- Assistance will be provided to the startup in rehearsing the investor pitch presentation.
Boot Camp for QRated Startups
As part of the QRate Assessment Program, the Government is conducting One Month Boot-Camp for selected startups. It will help the startups to refine the business plans, product, and strategy. Experts will review the startup’s business plan on the following:
- Concept, product, and service of the business plan
- Product and service design
- Estimating the market potential of the startups and their size
- Revenue streams, pricing, and business models
- Cost structures
- Business case
- Prioritizing market, with a well-defined expansion plan
- Marketing planning
- Customer experience management
- Sales planning and sales program design
As part of the Investor Connect Programme, the QRated startups (Platinum cardholder) will be introduced to the investors, accelerators, and incubators. This facility will be for the startups that have scored 85% in the QRating.
The Government will send an email to the eligible startups every month. The list of startups will be published on the official website of the iStart portal.
The top startups will be introduced to the qualified investors, accelerators, and incubators on Demo Day. Demo Day will be conducted online in every quarter.
The selected high potential Startups will be sent to Metropolitan cities such as Mumbai, Bangalore, and Mumbai, for presetting the business plan to the investors and potential customers.
Submit Pitch Deck for Review
The applicant can submit the Current Pitch Deck for Review through the iStart Portal. The suggested template for the pitch is enclosed here:Pitch deck ppt
The entrepreneurs, who intend to apply for QRate Card, need to access the iStart Rajasthan portal.
Know more about the Procedure to Register Startups in iStart Rajasthan
By clicking on Apply Now option, the link will redirect to the Rajasthan SSO portal. The Entrepreneur can create SSO ID by any of the following methods:
New User Registration
The new user of the SSO portal has to register to avail QRate card for startups. By clicking on the raster option, the registration page will appear with the following options.
- Government Employee
Registration Process for Citizens
The applicant can register using one of the following five digital identities:
- Facebook account
- Bhamashah account
- Google account
- Twitter account
The applicant has to provide the mobile number that is already linked with the Aadhaar card number.
After registering at the SSO portal, the applicant can log in to the SSO portal using the login credentials.
Registration Process for Government Sector Employees
The government employees are required to provide the details of the SIPF number and password.
Registration Process for Private Sectors Udyog (Industries)
The Udyog (Industry owner) needs to furnish any of the following two numbers.
- Business Registration Number (BRN)
- Udyog Aadhaar Number (UAN) and Aadhar Number
After login to the SSO portal, the application form for QRate card will be available. After submitting the details, the startup will be analyzed in all aspects of business and the QRate card will be issued based on the score obtained in the assessment program.
Post by Renu Suresh
Renu is experience content writer specialised in compliances and company rules.