chhattisgarh - startup india

CHHATTISGARHEMERGING STARTUP ECOSYSTEM

STATES’ STARTUP RANKING 2019

2 CHHATTISGARH | EMERGING STARTUP ECOSYSTEM

Table of

Contents

1. Overview of State Startup Ecosystem ...................05

2. Snapshot of State Performance ..............................07

3. Pillar Wise Assessment ...............................................08

3.1. Institutional Support ..............................................................08

3.2. Simplifying Regulations .....................................................11

3.3. Easing Public Procurement ............................................13

3.4. Incubation Support ................................................................15

3.5. Seed Funding Support ........................................................17

3.6. Venture Funding Support ................................................19

3.7. Awareness and Outreach ...............................................20

5CHHATTISGARH | EMERGING STARTUP ECOSYSTEM

OVERVIEW OF STATE STARTUP ECOSYSTEM

Chhattisgarh is one of the fastest growing states in India and has an excellent educational ecosystem with many national institutions, such as Indian Institute of Management, Indian Institute of Technology, International Institute of Information Technology, National Institute of Technology and All India Institute of Medical Sciences and National Law University. The Government of Chhattisgarh recognises the new wave where startups are going to be the engine for social innovation as well as dominant job creators in the long term. The state aspires to become the global epicenter of entrepreneurship and innovation, promoting sustainable and inclusive growth and enhancing global competitiveness by harnessing research and technology.Further to this endeavour in 2016, the state government rolled out the ‘Chhattisgarh Innovation & Entrepreneurship Development’ policy (hereinafter called as the ‘policy’) with an aim to create a conducive environment in the state for innovation and entrepreneurship.

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OBJECTIVES OF THE STARTUP POLICY ARE TO:

Establish accelerators/ Technology

Business Incubators (TBI)

in the state

Link large innovative companies with

the state and thus establish startup

infrastructure such as accelerators,

incubators, research and development

spaces

Setup at least 100 ventures

Become recognised as one

of the top hubs of innovation and entrepreneurship

in Asia and the world

Incubate startups within the State to raise funds from

venture capitalists, angel investors and financial institutes

Promote gender equality by

encouraging women

entrepreneurship

Conduct startup bootcamps in

academia covering schools and universities

Enable citizens of the state to be

associated directly or indirectly with the startups to have a better quality of life


KEY FEATURES OF THE STARTUP ECOSYSTEM OF CHHATTISGARH ARE:

INCUBATORS & ACCELERATORS• The state will establish at least one world class core Incubator-cum-Accelerator in collaboration with

educational institutes of repute• The state encourages large organisations and the startup community to set up their innovation centers in the

core Incubator-cum-Accelerator• The state planned three types of Incubator-cum-Accelerator under the policy which will focus on Technology,

Micro, Small & Medium Enterprises (MSME) and all other sector agnostic businesses

PROTOTYPING SHOPS AND CO-WORKING SPACES• The state has collaborated with local core industries for developing technology smart solutions for traditional

industry• Set up of common facilities which include plastic & electronics labs, a machine shop, lesser cutters, welding

stations, a textile department, a metal working shop, a wood shop and water jet cutter amongst other prototyping setup for all incubators for part fabrication and prototyping studios

• The state has created co-working spaces in the incubator-cum-accelerator for technologists, social entrepreneurs, government, technology companies and impact investors to achieve inclusive and sustainable socio-economic growth

FUNDING • The state has created an Innovation Fund for setting up of core Incubator-cum-Accelerator • The state has extended support by providing INR 50 lakh of interest free loan to startups selected in the state

incubator under a special fund named Leap of Faith Revolving Fund• The state nodal agency would also mobilise a Venture Capital Fund (VCF) of more than INR 100 crore by

leveraging various sources of funding• The state has also earmarked a special corpus towards VCF to empower and motivate women entrepreneurs

MARKET LINKAGE• The state ensures facilitation of corporate and state interactions at the stage of prototyping and market testing• The state connects startups with industry investors to invest in innovative solutions which were conceptualised

with customer’s inputs• The state would setup an annual startup festival to showcase the talent of young minds who would be felicitated

at the state level

PUBLIC PRIVATE PARTNERSHIP• The state’s nodal agency would provide guidance and support to create physical infrastructure and necessary

technical & commercial support for smooth running of public and private incubators• The nodal agency would also manage Innovation and Leap of Faith Revolving Fund• The state has appointed an implementation agency to oversee management of the incubator-cum-accelerator,

assist incubatees in industry and corporate connect, funding and self-sustaining business models

ENTREPRENEURSHIP EDUCATION & SKILL DEVELOPMENT• The state has encouraged universities & institutes to introduce the concept of student entrepreneur in

residence. An Entrepreneur in residence, or Executive in residence (EIR), is a position most often held by successful entrepreneurs in venture capital firms, private equity firms, startup accelerators, law firms or business schools

• The state has started an internship & fellowship programmes to encourage selected student entrepreneurs to pursue their innovations/ start-up ideas

• The state is promoting entrepreneurship by supplying Innovation kits & start-up toolboxes and organising bootcamps in schools and colleges/universities

FOCUS AREASThe state has identified following areas as innovative business areas and is in the process of creating a special policy/ regulation to promote startups working in these areas. These include:• Core sectors such as Iron, Steel,

Aluminium, Coal, Power etc.• Financial Technologies (Fin

Tech) with focus on financial inclusion and Mobile Commerce (m-commerce)

• Healthcare Technology

• MSME sector to increase efficiency• Internet & Mobile Technology and

Social Mobility Analytics & Cloud (SMAC)

• Internet of Things (IoT) and Wearable Technologies

• Renewable Energy

• Social Innovation for empowering citizens

• Safe and Smart Cities, and Smart Villages

• Emerging sectors of the State such as Defence, Automotive, Agro Processing, ESDM and Biotechnology


SNAPSHOT OF STATE PERFORMANCE 02

Relative Performance of the State

Performance of the Best State in the pillar

Venture Funding Support

Seed Funding Support

Easing Public Procurement

Simplifying Regulations

Institutional Support

Awareness and Outreach

Incubation Support

The following representation details the status of Chhattisgarh’s implementation on each of the 7 pillars of assessment. Data presented below is the percentile score.

The State has been evaluated on 7 distinct pillars which largely contribute to the growth of the startup ecosystem in Chhattisgarh. The representation as expressed above depicts the relative performance of the state in each of the seven pillars in comparison to the performance of the best state in that pillar.

As shown above, Chhattisgarh has shown progress in ‘Institutional Support’ and ‘Awareness and Outreach.’ Although significant efforts have been made to enhance the startup ecosystem, the initiatives undertaken towards ‘Venture Funding Support’, ‘Incubation Support’. ‘Easing Public Procurement’ and ‘Simplifying Regulations’ require improvements since results have been negligible in these pillars.

Detailed analyses of this snapshot can be viewed in the subsequent section, with extensive insight into the initiatives taken by the State to uplift its startup ecosystem.

0%6%

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10%

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PILLAR-WISE ASSESSMENT

The state has a well-defined startup policy and an online implementation system for startups to register and avail incentives offered by the state government. Further, the state has established a startup cell with a dedicated team to aid startups. It also has a system in place to provide intellectual property assistance to startups in terms of provision of subsidies for filing patents/ trademarks. The state currently recognises 290+ startups under the Startup Chhattisgarh initiative.Chhattisgarh Council of Science & Technology (CCOST), was established in the state on 19th January 2001 under the support of Department of Science and Technology, Government of Chhattisgarh with the objective of addressing the Intellectual Property Rights in the state and for creating awareness amongst academicians, researchers and innovators. The council has established Intellectual Property Rights Center under which the following structures were created:• Patent Information Center• Grassroot Innovation Augmentation Network Cell• Innovation Fund ProgrammesThe state has established cohesive partnerships with educational institutions and business entities to foster growth of the startup ecosystem.

KEY FACTS

1. INSTITUTIONAL SUPPORTInstitutional support envisages provisions and execution of the state’s startup policy including information on the nodal team within the state, online implementation system, registration of mentors and their listing on the state startup portal. The states are evaluated based on the laid provisions along with parameters of availing benefits through state intellectual property rights portal, establishing partnerships with institutions, providing special incentives for women led startups and entrepreneurship.

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KEY STRENGTHS

ROBUST STARTUP POLICY

• The state has a robust startup policy which covers all aspects of the startup ecosystem. It has clear guidelines on the definition, registration process and incentives available for startups.

• The policy is sector agnostic as the incentives/ benefits offered to startups are not restricted to specific sectors.

• The state has provided an amendment to the pre-existing Industrial Policy 2014 -19 which includes specific provisions for startups. The amendment was issued on 24th November 2016 clearly stating the definition of a startup as follows:

− The date of incorporation of incorporation/ registration is not prior to five years.

− The annual turnover could not exceed INR 25 crore, for any preceding financial year

− Working towards innovation, development, deployment or commercialisation of new products, processes or services driven by technology or intellectual property

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− Such entity is not formed by splitting up or reconstruction of a business already in existence

• All details of their startup policy are available online through a dedicated portal for startups (https://industries.cg.gov.in/startupcg/)

https://industries.cg.gov.in/startupcg/



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NODAL DEPARTMENT, OFFICER AND TEAM

• The startup portal reflects that the responsible nodal department is the Department of Commerce & Industries and the nodal officer is Director of Industries, Government of Chhattisgarh.

INTERACTIVE ONLINE IMPLEMENTATION SYSTEM

• The state has a highly interactive startup portal (https://industries.cg.gov.in/startupcg/)

• The startups submit their registration applications and documents online and track the status of the applications on a real time basis.

• The portal also has a strong query resolution mechanism which can be accessed via an online portal or offline through e-mail and phone. All the helpline numbers and email id have been listed on the website.

MENTOR NETWORK

• The list and details of mentors registered with the portal are displayed in the public domain

• The state has 115+ registered mentors from various domains including finance, marketing, supply chain, IT, e-commerce, etc. The mentor list provides details about the mentor’s domain, industry, e-mail contacts and business profiles.

STRONG INTELLECTUAL PROPERTY (IP) SUPPORT

• With the objective of addressing the Intellectual Property Rights in the state and for creating awareness amongst academicians, researchers and innovators the Chhattisgarh Council of Science & Technology (CCOST) has established Intellectual Property Right Centre under which the following structures are created:

1. Patent Information Centre,

2.Patent Information Centre,

3.Grassroot Innovation Augmentation Network Cell and,

4.Innovation Fund programmes. − The state has established a Patent Information Center (PIC) with the support of Technology Information,

Forecasting and Assessment Council (TIFAC), Department of Science and Technology, Government of India (GoI) on 18th December 2002.

− Grassroot Innovation Augmentation Network Cell (GIAN) has been made functional with the support of National Innovation Foundation, Ahmedabad to support and promote innovation in the state

− Chhattisgarh Council of Science & Technology (CCOST) has established Innovation Fund programmes where in financial assistance is extended for prototype development and scientific inputs are facilitated by means of making available the equipped work centres in the established academic and R&D institutions of the state.

− The state has also facilitated the scientific inputs by making available the equipped work centers in the established academic and Research and Development (R&D) institutions of the state

− The state provides IP support in the form of 60% reimbursement of patent filling cost which could be up to a maximum of INR 6 lakh

− List of IP facilitation centers along with contact details are available on the startup portal

COHESIVE PARTNERSHIPS TO FOSTER GROWTH OF THE STARTUP ECOSYSTEM

• The state has formed partnerships with various international organisations such as Amazon Web Services (AWS) and ZOHO One. These applications include integrated software for sales, marketing, support, accounting, operations, and HR. This will foster growth of the startup ecosystem.

SUPPORT FOR WOMEN ENTREPRENEURS

• The women entrepreneurs in the state get incentives in the form of 10 percent additional subsidy and 10 percent additional exemption in stamp duty, electricity duty, etc. The exemption is allowed for an additional year for women beneficiaries.

• The state has also earmarked a special corpus out of VCF for women innovators to empower and motivate women entrepreneurs.

SUPPORT FROM VARIOUS DEPARTMENTS

• The state with the support from Electronics and Information Technology Department, has organised the “Sky hackathon Challenge” during the period of July - August 2018.




WAY FORWARD

The state needs to give importance to this pillar in order to further strengthen the startup ecosystem. The state could prioritise actions required in three categories: short, medium and long term. Action required in each of these categories are summarised below:

MEDIUM TERM ACTIVITIES (4-6 MONTHS)The activities suggested in this category are important and will take relatively more time for implementation. Through dedicated efforts, results can be achieved within four to six months. Activities suggested under this category are as follows:

Connecting startups with mentors

The state needs to develop online systems to provide mentorship access to entrepreneurs. The online mechanism in place would help the state to connect startups with mentors on the state’s portal.

Incentives for women entrepreneurs

The state could consider specific incentives in the startup policy to promote women entrepreneurs. The state could make provision of a reservation percentage for women in terms of seats in incubation centers and allocate a fixed percentage of the total corpus fund for women entrepreneurs.


2. SIMPLIFYING REGULATIONSSimplification of regulations considers mandatory requisites for state level approvals and clearances for registering and operating a business or startup online. In order to make compliance for startups friendly and flexible, simplifications are required in the regulatory regime. It encapsulates regulatory issues faced by registered startups which have been identified through an interactive online mechanism subject to approving action by regulatory agencies. The states are evaluated based on the support provided to startups by introducing a list of rules, regulations or Acts in the state, including amendments in the Acts and regulations with requisite details to create a conducive environment for the state’s startups.

The state has a mechanism in place to guide startups with all matters related to approvals and clearances. The startup portal allows startups to apply for necessary approvals and track the status of their applications on a real time basis.

KEY FACTS

KEY STRENGTHS

COMPREHENSIVE BUSINESS COMPLIANCE INFORMATION SYSTEM

• The state has developed an online wizard which provides information on department-wise approvals required at pre-establishment and pre-operations stage in the state.

ROBUST MECHANISM TO DEAL WITH REGULATORY ISSUES

• The state has an online dedicated page on its website to identify regulatory issues and connect with disruptive start-ups.

• Startups can submit issues relating to regulations through the state’s startup portal (https://industries.cg.gov.in/startupcg/Home/StartUp_Query)

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• The Department of Commerce and Industries, Government of Chhattisgarh has notified the regulation regarding adoption of Chhattisgarh based startup. The notification is for startups having production facilities in Chhattisgarh and working in identified disruptive technologies.

• Chhattisgarh State Industrial Development Corporation (CSIDC) will evaluate/ review the application submitted by startups for identification of new and disruptive technologies.

• A Review and Evaluation Committee has been setup which consists of the Managing Director, Chhattisgarh State Industrial Development Corporation (CSIDC), the nodal officer for development of startup ranking ecosystem and the technical & industry experts to review and evaluate the relevant areas in detail.

https://industries.cg.gov.in/startupcg/Home/StartUp_Query



WAY FORWARD



Interactive online mechanism for handling grievances faced by startups• The state could establish an interactive online mechanism for inviting and identifying grievances faced by startups on state’s rules and

regulations. The portal could be used to provide suggestions and resolutions to state’s startups.

• The state could conduct quarterly roundtables/ workshops to resolve sector specific regulatory issues. This would include a two-way communication between startups and relevant government departments aimed at direct consultation and grievance redressal to assist state’s startups in identifying challenges and seek resolution with ease and convenience.

Establish rules, regulations and acts for supporting startups• The state could introduce rules and regulation or other statutory Acts with necessary amendments as and when applicable to the state.

• The state could ensure that the startup portal comprises of list of rules, regulations or Acts amended or introduced to state supporting startups and the portal is timely updated.


3. EASING PUBLIC PROCUREMENTEase in public procurement simplifies criteria to ensure participation of startups in government tenders. The states are evaluated based on the support provided to startups in resolving issues related to state public procurement as norms of Earnest Money Deposit (EMD), prior experience, and prior turnover which prove to be barriers for participating startups. Easing of such norms enable startups and entrepreneurs to avail exemptions and share an equal platform with established organisations.

The state government has exempted the criteria of ‘prior experience’, ‘prior turnover’, and ‘submission of EMD’ for the state’s startups. The state government has amended Store Purchase Rules, 2002 through a submitted Government order (dated 28th April 2018).

KEY FACTS

KEY STRENGTHS

RELAXATION IN ‘PRIOR EXPERIENCE’, ‘PRIOR TURNOVER’ AND ‘SUBMISSION OF EMD’ CRITERIA

• The state’s amendment rules enumerate that “prior experience” criteria would be applicable to startups in the state. It also provides exemption of “prior turnover” criteria and the criteria of “submission of EMD” for public procurement of all State Government departments and Public Sector Undertakings (PSUs) to the state’s startups.

PREFERENCE TO STARTUPS IN PUBLIC PROCUREMENT

The State Government has made amendment to clause 13 of the State Store Purchase Rules, 2002 in order to support startups by providing adequate preference in public procurement of goods and services. The preference is provided as below: • Participating startups who agree to bring their quote on

par with the lowest received bid (L1) and their products meet the required specifications

• Preference is given for procurement from such startups

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to the extent of 1% of the total procurement cost, upto a maximum limit of INR 10 Lakh per year, within a period of 3 years from the start date of their commercial production

COMPREHENSIVE GRIEVANCE REDRESSAL MECHANISM

• Startups are able to raise grievances related to public procurement on the state’s startup portal (https://industries.cg.gov.in/startupcg/Home/StartUp_Query).

• Department of Commerce and Industries, Government of Chhattisgarh is appointed as the nodal department and Director Industries, Government of Chhattisgarh is appointed as the nodal officer for grievance redressal




WAY FORWARD


SHORT TERM ACTIVITIES (1-3 MONTHS)The activities suggested in this category are important and will take relatively less time for implementation. Through dedicated efforts, results can be achieved within one to three months. Activities suggested under this category are:

Increased purchase orders/work orders• The state could consider increasing number of work orders awarded to startups in order to encourage entrepreneurship

• The state could consider organising annual events where startups may demonstrate their capabilities directly to the government and subsequently take part in public procurement activities


Develop a time bound grievance redressal mechanism• A developed mechanism is suggested in the state to track the impact of easing public procurement guidelines.

• A specified time bound mechanism could be developed for resolution mechanism. This will help in addressing the grievances of startups wherein startups can raise grievances related to public procurement on the state’s startup portal.


The state has partnered with three incubators to nurture the growth of startups. To provide assistance to state startups, the incubators allocate seats to startups in Chhattisgarh. As part of this initiative, an operational business incubator and accelerator, AIC@36INC supports start-ups to expand and develop by providing them with services like co-working space, management, mentorship, fund support, technological assistance or any support involved for a business to grow. The incubator has allocated 145 seats to startups in the state. This incubator also acts as the nodal agency of Government of Chhattisgarh for the overall entrepreneurial development in the state.

KEY FACTS

4. INCUBATION SUPPORTIncubation support is an integral element of the startup ecosystem that supports entrepreneurs to grow their businesses and assists new startups to succeed. In order to promote startups, the state governments collaborate with organisations, corporates or industry associates to establish incubators, to support startups in the form of capital expenditure or operational expenditure. The evaluation is based on setting up of incubators supported by the state governments to release funds to the startups, thereby creating a unique mechanism to provide subsidised incubation and operate acceleration programmes in partnership with the industry.

KEY STRENGTHSINCREASE IN ORGANISING ACCELERATION PROGRAMMES

• The state has appointed AIC@36INC as the State Incubator cum Accelerator.

• The state has conducted an accelerator programmes named Acceler8 which focused on the healthcare sector. The programmes was held during the period 13th December 2018 to 13th March 2019

CO-WORKING SPACEIdeate while competing. Learn with other startups. Get a swanky office for your team An

address to flaunt.

FAB LABOur well-equipped FABLAB with a separate access is not

just for our incubatees

MARKET LINKAGESConnect with top corporates. Testing of new products. Scale

up your idea.

FUNDINGWe know that what water is to a plant, money is to startups! We have funding options for

all stages of startups

MENTORSHIPSupport by domain and start-up experts. Refinement of Value Proposition. Assistance in pre-

paring classy

GOVT. SUPPORTIt is the first business Incubator cum Accelerator supported by Government of Chhattisgarh


WAY FORWARD


MEDIUM TERM ACTIVITIES (4-6 MONTHS)The activities suggested in this category are important and will take relatively more time for implementation. Through dedicated efforts, results can be achieved within four to six months. Activities suggested under this category are as follows

Assist startups with subsidised incubation • The state could develop a mechanism to assist startups with subsidised incubation

• The state could maintain a list of unique startups which were provided subsidy through incubators and a list of startups which were provided direct subsidy in rental fee of the incubator.

• The state could explore opportunities to partner with private incubators and support them by reimbursing the cost of incubation.

• The startups could also be encouraged to provide an official document showcasing subsidised incubation extended to startups.

Setting up Incubators• The state could ensure release of funds to startups through incubators. The state could make dedicated efforts in setting up new

incubators or upgrade existing incubators in the state.

• The state could also support incubators by providing financial grants for capital expenditure for covering the initial cost.

• Additionally, state could explore alternative models of incubation support such as provision of rent-free space (on lease) for setting up of incubators.

Organisation of acceleration programmes• The state could develop institutions to organise acceleration programmes in association with industry and formulate measures through

its startup cell to encourage industry participation.

• The state could also encourage enrollment of startups in acceleration programmes to provide startups with the opportunity to connect with investors, leverage years of cumulated experience, skill development, provide direction and knowledge support.


5. SEED FUNDING SUPPORTSeed funding can be in the form of a direct grant, subsidised loan, product development and marketing financial assistance, monthly sustenance allowance or even equity seed funding. With seed funding, the evaluation is based on the states’ endeavour to help a business grow and generate its own capital by establishing a guiding document. The states need to ensure that startups scale with the right velocity in order to achieve leading positions, through state investment and startup’s entrepreneurial knowledge.

The state lays down clear guidelines for seed funding and has reliable infrastructure in place to provide early stage funding support to startups. The state’s startup policy clearly outlines the eligibility criteria, extent of seed funding and the application procedure for startups to avail seed funding from the state.

KEY FACTS

KEY STRENGTHS

COMPREHENSIVE SEED FUNDING GUIDELINES

• The disbursal agency for funds (36INC), appointed by the state, incorporates clear guidelines on seed funding support to startups. The startup is incubated at 36INC to make the performance monitoring easier.

• To promote seed funding opportunity to startups in the state, the State has setup a ‘Leap of Faith Revolving Fund (LoFR)’ and ’36 Angel Fund (36AF)’ for supporting the startups through seed funding

• The key constituents of the Leap of Faith Revolving Fund are:

− An initial corpus of INR 10 crore has been set aside and handed over to the disbursal agency

− A maximum of INR 50 lakh limit has been kept for each individual enterprise

− State has also made provision that Invest committee members can become non-voting board members and can invest into startups, upto 25% of the equity but not acquire the startup for the duration of the loan.

• The key constituents of the 36 Angel Fund are:

− An initial corpus of INR 10 crore has been set up wherein the investment from the fund would be sector agnostic and would ensure support to a broad mix of sectors in Chhattisgarh

− The fund’s co-investment in the startup would be restricted to 50% of the investment made by angel fund/ angel groups in that round of investing, subject to a ceiling of INR 50 lakh per individual enterprise

ONLINE SYSTEM FOR SEED FUNDING

• State has a robust online system in the form of its startup portal where startups apply for seed funding.

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• The portal (http://36inc.in/accelerator/application_form.php) allows startups to register and submit their application for seed funding through the online portal of 36INC with relevant documents. Startups can access the forms, guidelines and documents from the 36INC Web Portal.

• The startup application can be tracked online at portal (http://36inc.in/funding_report/login_easy_nirman.php) and also by reaching out to the designated Manager or to the Chief Executive Officer (CEO).

• Status of the approvals is communicated online at portal (http://36inc.in/funding_report/dashboard_easy_nirman.php)


WAY FORWARD



Increase seed funding beneficiaries• The state could reach out to additional startups by conducting dedicated annual events for provision of seed funding.

• State could explore other direct seed funding models such as Grant-in-aid to foster investing initiatives for beneficiaries.


WAY FORWARD



Support to venture funds

The state could establish Venture Capital Funds (or FoF) to support startups through the following measures:• Establish clear operating guidelines for venture funds

• Appoint fund managers for such funds and sign a MoU

• Approach independent venture funds for participation

Startups funded through venture funds

In order to encourage startups to avail benefits from state supported venture funds, the state could consider deploying certain measures, such as, offering a success fee at a fixed rate to startups for availing investments through state supported seed funds.

6. VENTURE FUNDING SUPPORTVenture capital funding support is provided to the startups from state supported funds. The states are evaluated based on the establishment of the Fund of Funds (FoF) with approved operating guidelines and signing a memorandum of understanding (MoU) with the fund manager along with a concrete budget allocation. Venture funding provides strong growth potential to startups wherein the fund is used for the all-round development of startups and to levitate the startup ecosystem of the states.

The state government has not taken any initiative to promote venture funding in the state. Venture funding is a crucial element required for growth of early stage startups and the same needs to be developed in order to sustain the growth of the startup ecosystem of the state.

KEY FACTS


7. AWARENESS AND OUTREACHIt is the endeavor of state governments to raise awareness about the Indian startup ecosystem and increase its outreach throughout the state. The states are evaluated based on awareness of startups created through workshops, national and international events including bootcamps and hackathons/ grand challenges. In order to promote startups, the state encourages participatory and inclusive processes for linking startups with angel investors and high net worth individuals. Maximum participation is encouraged for exchange of valuable knowledge amongst startups, and pitching sessions for angel investments with widespread propagation.

The state has conducted various awareness and outreach events, such as, bootcamps and angel investment workshops to support startups. As part of its initiative to promote angel investment funding, the state has carried out multiple angel investment workshops. 15+ bootcamps and 25+ van stops were organised in the state.

KEY FACTS

KEY STRENGTHS

FOSTERING ENTREPRENEURSHIP THROUGH BOOTCAMPS

• Startup India Chhattisgarh Yatra was started on 30th July 2018 and completed on September 12th, 2018. The mentors and judges in the grand finale of the bootcamps were Mr. Rohit Ahiwar, CEO & Founder, Engineering Innovations, Mr. Avdesh, Representative, Engineering Innovations, Mr. Ameya, Manager, AIC-AARTECH, Mr. Srinivasan, Innovation Head, KIIT-Technology Business Incubator (TBI), Mr. Ronald Fernandez, Director, AIC-Rabindranath Tagore University (RNTU Foundation).

Government Engineering College, Jagdalpur

• A total of 84 incubation offers were provided and 5400+ students participated throughout the Startup Yatra campaign

• The target of the bootcamps was to create awareness on startups, promote innovation and seek innovative ideas through young entrepreneurs

• During the facilitation ceremony, 13 students were awarded with cash prizes ranging from INR 30,000 to INR 50,000 in

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four categories including Technology, Agriculture, Social & Womanpreneur with one ‘Hero of the State’ award given to the ‘Best Technology Startup Idea’ from the state of Chhattisgarh

Hotel Babylon International, Raipur

ORGANISING ANGEL INVESTMENT WORKSHOPS

• Government of Chhattisgarh through 36INC has organised multiple angel investment workshops on smaller scale based on the needs and requirements of startups. These workshops consist of awareness sessions for startups on ‘how to pitch their ideas for funding to investors.’

• Some of the investment workshops include: − Ambuja Neotia − Bharat Innovation Fund − Venture Catalysts

• These workshops provided a platform for the selected startups to connect with potential angel investors and angel networks


WAY FORWARD


SHORT TERM ACTIVITIES (1-3 MONTHS)The activities suggested in this category are important and will take relatively less time for implementation. Through dedicated efforts, results can be achieved within one to three months. Activities suggested under this category are:

Organisation of Hackathons or Grand Challenges• The state could organise more hackathons/ grand challenges to identify innovative technological solutions and support entrepreneurs

in building solutions as viable products or service offerings.

• Each hackathon or grand challenge could have at least one problem statement posed to startups, at least 100 startups/ student participants and could be conducted for at least a 24-hour duration for a hackathon or seven days for a grand challenge.

• The list of hackathons could be supported with event reports consisting of event name, dates, venue and duration of the event, problem statement posed, startup participants and brief description of the event and event-wise list of participating startups/ students.

Organisation of National or International events• The state may consider increasing the total number of national and international events in a year and invite more startups from other

states and countries.

• Students or aspiring entrepreneurs require basic understanding of ideation, business planning, finance, legal and pitching before they venture out to operate a startup. Going forward, the state may conduct more of such trainings and events in educational institutes of the state to ensure coverage of all districts.

• Each event may have knowledge exchange seminars or workshops, exhibition and/ or pitching sessions and participation of startups from more than five states or countries.

• These events would help in fostering innovation and develop skills amongst entrepreneurs. This could be supported with detailed event reports.

• The state could comply with requisite formalities for the official recognition of these events.


Notes

CONTACT US

www.startupindia.gov.in

[email protected]

1800-115-565

chhattisgarh - startup india

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