Fri. Jun 9th, 2023

NAVONMESH Open Challenge Program (OCP 2.0) for Startups

MedTech is a Center of Entrepreneurship in the field of MediElectronics and Health Informatics. This novel initiative is being set up by consortia comprising of Software Technology Parks of India (STPI), SGPGI Lucknow, Department of IT and Electronics, Government Of UP, Association Of Indian Medical Device Industry (AIMED ), Andhra Pradesh MedTech Zone (AMTZ)). The objectives of setting the same are to boost start-ups in the field of medical equipment/electronics & health informatics, and, to contribute to “Make-in-India” & “Digital India” programs of Govt. of India by reducing Health Care Equipment imports and recognize the value of Health Care Equipment & Technology locally. Apart from physical infrastructure, the CoE will have the access to Technocrat/Medical practitioners mentorship, mentorship programs, and VC funding, Legal and IPR support, Marketing assistance, etc.

Eligibility

Company Type • The start-up must be incorporated as a
> Private Limited Company (as defined in the Companies Act, 2013) or
> Registered Partnership Firm (Regd. under section 59 of the Partnership Act, 1932) or
> Limited Liability Partnership (under the Liability Partnership Act 2008)
• The date of registration/incorporation must not be beyond 10 years.
Annual Turnover
Start-up should have an annual turnover not exceeding Rs. 100 crore for any of the financial years since its incorporation.
Original Entity
An entity should not have been formed by splitting up or reconstructing an already existing business.
Innovative & Scalable
Entity working towards innovation, development, or improvement of products, processes, or services or if it is a scalable business model with high potential of employment generation or wealth creation.
Terms & Conditions
• Start-ups have to operate from the MedTech CoE Incubation facility at STPI Lucknow CoE at SGPGI.
• Each start-up will be offered incubation space as per their requirement.
• Each start-up has to offer designated equity to STPI as per the present valuation.
• The start-up has to pay designated services charges per seat per month for availing incubation facilities.
• The incubates under product development and R&D shall be offered a discount as per the STPI Incubation Policy.

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Benefits

Prize

  • Each selected startup that will join the MedTech CoE program would be awarded Rs. 50,000 as prize money

Offerings

  • Physical infrastructure including state-of-the-art Ready-to-Work Plug & Playspace
  •  Direct mentoring from stalwarts of business/tech domain
  •  Financial Support through seed funding
  •  High-Speed Internet Access
  • Access to VC funding
  • Technical Support
  • Marketing Support
  • IPR Related Support Services
  • Access to 19+ CoE Labs PAN India
  • End-to-end marketing plan to place your start-up on the global map
  • Legal, Accounting, IPR/Patenting Facilitation & other support Service
  • Cross border collaboration via international promotional agency partners
  • Sponsorship to National/International level events to showcase your products for global exposure

Application Process

For Application Process CLICK HERE

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ThemeChallenge
Applicant CountryWorldWide
For more informationNAVONMESH

SOURCE: https://startupxs.com/fund/navonmesh-open-challenge-program-ocp-2-0-for-startups/

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