Start-up challenge: Over 1,200 entries received for Rs 3 crore prize

The Vibrant Gujarat Start-Up Summit 2018 has received a whopping 1,234 entries for the grand challenge worth Rs 3 crore. The summit will support and help the investors in terms of technical and financial support.

D Thara, managing director and vice chairman of GIDC, said that the main objective of the summit is to provide a platform for budding entrepreneurs.

“The startup ecosystem for the vibrant summit got an excellent response. We will go through a rigorous process of evaluation for all the entries,” said Thara.

There will be a three-step evaluation process for the idea and blooming stage and four-step evaluation for the scale up stage. “We have received very good response sector wise. The 200 entries for the scale up stage will be reviewed very critically. There will be a peer review and super jury review by experts. Each entry would be objectively and subjectively analysed,” Thara added.

A total of 44 performers across three different stages (idea stage, bloom stage and scale up stage) will be given prizes worth Rs 25,000 to Rs 30 lakh.

This is the second edition of the challenge, which has eight defined themes for entry, namely, AgriTech, FinTech, Smart and Shared Mobility, Women Centric Solutions, Manufacturing 4.0, Governance 2030, Maritime and Military Intelligence, and Heath Tech.