National Startup Awards 2023, Objectives, Prize, Significance and Previous Editions

National Startup Awards 2023: The National Startup Awards are an initiative by the government to recognize and reward outstanding startups and ecosystem enablers in the country. National Startup Awards is important for UPSC Prelims Exam and UPSC Mains Exam (GS Paper 2- Governance, Administration and Challenges- Government policies and interventions for development in various sectors and issues arising out of their design and implementation.) 

National Startup Awards 2023 in News

The applications for National Startup Awards 2023 have been made live from 1st April 2023 and the deadline for submissions is now extended to 15th June 2023. Interested participants are encouraged to visit the official National Startup Awards website and submit their applications before the revised deadline of 15th June 2023.

National Startup Awards 2023 Application Extended

The extension of the National Startup Awards 2023 application deadline allows aspiring entrepreneurs and enablers additional time to showcase their innovative solutions and profound societal impact.

• The National Startup Awards 2023 will commemorate innovations from all corners of the country, aligning with the vision of ‘Vision India @2047’, which charts the path for India’s transformation into a developed economy, driven by the spirit of Amrit Kaal across key themes.
• Furthermore, the winners and finalists of the National Startup Awards 2023 will receive exclusive handholding support, including access to investors and government networks, mentorship programs, international market exposure, connections with corporates and unicorns, and various other valuable resources.

National Startup Awards 2023 details

The fourth edition of National Startup Awards, NSA 2023 will be one of the biggest award platforms to recognize, reward and promote as well as offer exclusive handholding support to a diverse set of startups. These startups are driving sustainable transformation of the Indian economy and generating measurable impact for the society.

• Parent Ministry: National Startup Awards have been designed by Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry.
• Mandate: NSA 2023 aims to identify, support, and connect top startups within the country.
• Prize: DPIIT will award a cash prize of INR 10 lakhs to one winning startup in each category.
• In line with ‘Vision India @2047’: where India focusses on becoming a developed economy, innovation is going to be the key for all important initiatives that we undertake.
  • For this reason, it becomes essential to support these entrepreneurs and leverage their potential to enable India’s vision for 2047, fueled by the spirit of Amrit Kaal across key themes.

National Startup Awards 2023 Objective

The NSA 2023 aims to look beyond the conventional thought process of measuring the success of a startup with the financial gains for investors etc. to parameters such as impact for the society, solving key problems by developing some innovative solution/product, and creation of jobs (direct and in-direct) in the country, which is a paradigm shift in the approach.

National Startup Awards 2023 Categories

The startups will be awarded across 20 categories, which have been decided upon thorough deliberations on current Indian and global economic focus points.

• These categories range from innovations in aerospace, retail and disruptive technologies to more impact-focused categories.
• These categories have been accommodated to ensure that the best startups of the ecosystem are being awarded and to create a more cohesive and cross-functioning startup ecosystem.

National Startup Awards Significance

National Startup Awards 2023 is important for start-ups due to the following-

• The winners and runners-up will also be given opportunities to present their solutions to relevant public authorities and corporates for potential pilot projects and work orders and pitching opportunities with investors.
• They will also be given priority for participation in various national and international startup events.

Details of National Startup Awards 2023 Prize

A cash prize of INR 10 lakhs will be awarded to one winning startup in each of the categories by DPIIT.

• The winner and the finalists will be given opportunity to present their solutions to relevant public authorities and corporates for potential pilot projects and work-orders.
• The winners and finalists will be given priority for participation in various national and international startup events where DPIIT is participating.

National Startup Awards 2023 Eligibility Criteria

Eligibility Criteria of National Awards 2023 for Startups are as follows-

• The startup should be a DPIIT recognized startup. The entity must submit their certificate of recognition.
• The entity must submit the Certificate of Incorporation issued by the Ministry of Corporate Affairs or Certificate of Registration from the Registrar of Firms of respective state.
• The entity must have a hardware or software product or a process solution that is present in the market.
• The entity must have all applicable trade trade-specific registrations (example: CE, FSSAI, MSME, GST Registration, etc.)
• There should not have been any default in the last three years (FY 2019-20, 20-21, 21-22) by the entity or any of its promoters or any of their group entities.
• The entity must submit audited financial statements (balance sheet, profit & loss account) for the last three financial years FY 2019-20, 20-21, 21-22.
• The entity should not be completing 10 years of incorporation on or before March 31st , 2024.

National Startup Awards 2022

The National Startup Awards 2022 acknowledged startups that hold within them the power and potential to further fuel the spirit of Aatmanirbhar Bharat.

• Mandate: In line with Azadi Ka Amrit Mahotsav, the National Startup Awards 2022 acknowledged startups and enablers who have been instrumental in revolutionising the development story of India.
  • The National Startup Awards 2022 also rewarded exceptional incubators and accelerators as key building blocks of a robust startup ecosystem.
• Category: The 2022 awards for startups was given in 17 sectors classified into 50 sub-sectors. In addition, there are seven special categories of awards for startups:
  • Women-led startups
  • Impact in rural areas
  • Campus startups
  • Manufacturing excellence
  • Innovation tackling the pandemic (preventive, diagnostic, therapeutic, monitoring, digital connect, work from home solutions, etc.)
  • Solution delivery or business operations in Indic languages
  • Startups from North-East and Hilly States/ Union Territories.
• Prize: A cash prize of INR 5 lakh awarded to each winning startup. A cash prize of INR 15 lakh each awarded to one winning incubator and one winning accelerator.

Previous Editions of National Startup Awards

There has been four editions of National Startup Awards till now including the ongoing fourth edition of National Startup Awards 2023. Details of previous Editions of National Startup Awards are discussed below-

• The first National Startup Awards were announced in 2020 and witnessed applications from over 1,600 startups and ecosystem enablers across India.
• National Startup Awards 2021 saw participation from over 2,200 startups and ecosystem enablers.
• The National Startup Awards 2022 acknowledged startups that hold within them the power and potential to further fuel the spirit of Aatmanirbhar Bharat. National Startup Awards 2022 was given in 17 sectors classified into 50 sub-sectors.

Startup India Seed Fund Scheme (SISFS)

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