Shri Devendra Fadnavis
Hon'ble Chief Minister Maharashtra State
Shri Sambhaji Patil Nilangekar
Hon'ble Minister for Skill Development & Entrepreneurship, Labour, Earthquake Rehabilitation, Ex-Servicemen Welfare, Maharashtra State.
DR. Ranjit Patil
Hon'ble Minister of State for Skill Development and Entrepreneurship, Maharashtra State
The Maharashtra State Innovation Society (MSInS) has been established under the Department of Skill Development and Entrepreneurship, Government of Maharashtra, with the aim of fostering a culture of innovation across the state of Maharashtra.
The Maharashtra Startup Week has been envisaged as an annual flagship competition to engage, encourage and enable the entrepreneurial ecosystem. Organised from 25 th to 29 th June 2018, the Maharashtra Startup Week will provide 100 Startups with a platform to showcase their innovative solutions to the Government of Maharashtra.
24 Startups shall receive Government work orders of up to Rs.15 lakhs each! The Government of Maharashtra will assist the Startup in piloting their solution for a period of 6 to 12 months. Upon demonstrating proof-of- concept, the startup may have the opportunity to scale their enterprise with the aid of the Government.
Tata Trusts’ Foundation for Innovation and Social Entrepreneurship (FISE) will serve as the Primary Strategy Partner. FISE is an initiative to promote socially relevant innovations and entrepreneurship with a mission to create large scale sustainable social impact.
Frequently asked questions
All startups 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
- 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)
- Not have exceeded a turnover of Rs.25 Cr in any of the financial years since its incorporation/registration
- 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.
Applications are open until 11:59pm on 5th June 2018.
All applicants shall be notified of the results on 18th June 2018.
100 finalists will be expected to attend a two-day boot camp on 23rd and 24th June 2018.
From 25th June to 29th June 2018, the 100 finalists will make a pitch to an esteemed panel of Government officials, investors, incubators, and experts from industry and academia.
In the 6 to 12 months following the event, 24 startups will receive support from the Government in deploying their solutions and demonstrating proof-of-concept.
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.
- Education & Skills
- Infrastructure & Mobility
- Sustainability (i.e. Clean Energy, Water Conservation, and Waste)
- FinTech & Cyber Security
Startups will be evaluated on the following parameters
- Unique Value Proposition
- Leadership Team
- Social Impact
- Sustainability & Scalability
- Technology Advantage (if any)
24 startups (three from each of the eight aforementioned sectors) shall receive Government work orders of up to Rs.15 lakhs each. The Government through its machinery shall provide startups with access to personnel, data and other means of handholding while the startups pilot their solutions over a period of 6 to 12 months.
Additionally, the Maharashtra State Innovation Society (MSInS) shall partner with multiple investors and incubators for the purpose of the Startup Week. These partner organisations shall consider the top 100 finalists for funding and mentorship. Moreover, the Government of Maharashtra may support select startups with overseas market expansion.