Handloom Startup Grand Challenge: How to participate, eligibility criteria and cash prize

Handloom Startup Grand Challenge: The government has announced Handloom Startup Grand Challenge. The ministry of textiles, in partnership with Startup India and Invest India, has invited applications for Handloom Startup Grand Challenge.

The Handloom Startup Grand Challenge was launched on 7th August on the occasion of National Handloom Day. Entries can be submitted till September 7, as per the details mentioned on startupindia.gov.in.

Handloom Startup Grand Challenge theme: The theme is 'Handloom, Textiles and Apparel'. The Handloom Startup Grand Challenge is aimed at enhancing technologically developed handlooms by welcoming innovative and cost-effective solutions from youngsters associated with the world of startups. 

Besides, the Handloom Startup Grand Challenge is also aimed at providing better quality handloom items to the customers with the reduced stress for weavers during handloom weaving.

Handloom Startup Grand Challenge: Eligibility criteria 

According to the StartUpIndia website, the following mentioned criteria are liable to be eligible for the programme: 

Entrepreneurs, students of IIHTs and other educational Institutions/Universities, Innovators, researchers across India can participate in the challenge.

Companies incorporated under the Companies Act 1956/2013, primarily a Micro, Small and Medium Enterprises (MSME) as defined in the MSMED Act, 2006.

Any company registered as a Start-up, as defined, and recognized by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India and the majority stake (more than 51%) of the applicant entity must be held in India.

Handloom Startup Grand Challenge: Cash prize

In accordance with the government's notice, the following are the incentives that would be given to the winners-

1. Three cash prizes of Rs 3,00,000, Rs 2,00,000 & Rs 1,00,000 for top 3 winners (1st ,2nd & 3rd) respectively from amongst the participants.

2. Three consolation prizes of Rs 75,000 for any 3 Startups selected by team of jury/experts.

3. Three consolation prizes of Rs 75,000 for any 3 participants other than Startups selected by the team of jury/experts. And the cash prizes will be shared only on the jury’s discretion.

Handloom Startup Grand Challenge.

Golden opportunity to innovate cost-effective solutions for developing technologically upgraded handlooms for better quality products with lesser drudgery for our handloom weavers.#MyHandloomMyPride

Apply here : https://t.co/wm00FKXKxV pic.twitter.com/qFKye3n3F1

— Piyush Goyal (@PiyushGoyal) August 7, 2022