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Motion Open Challenge Program in Deep Tech and its Applications by STPI [Automotive; Agri-Tech; FA Upto Rs. 2.5L]: Apply by Feb 29

Apoorva

Feb 19, 2024
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Motion Open Challenge Program in Deep Tech and its Applications by STPI. The last date for the application is Feb 29, 2024.

About Motion OCP

“MOTION” – a CoE in Automotive: Autonomous Connected Electric Shared Mobility (ACES) by STPI

Objectives: Creation of a holistic eco-system for encouraging R&D, innovation, Entrepreneurship in the Automotive: ACES sector in India by providing physical infrastructure and support services for prototyping, developing, testing & marketing; to incubate start-up units to create innovative solutions to meet the existing and emerging needs of automotive sector; to provide business and technological mentorship & guidance in the domain; to provide networking services linking up with funding sources and other stakeholders (alumni, academic institutions, other incubators etc.); to enable creation of IPs domestically;

Facilities & Services

The services available for the beneficiaries of the Motion shall include,

Physical infrastructure includes a 75-seater state-of-the-art incubation and physical laboratories. EV Lab, AV Lab, Connected & Shared Mobility Lab
Mentoring
Access to Financial Support
Technical Support
Marketing Support
IPR/Patenting Facilitation
Legal, Accounting & other support services

Target Beneficiaries

50 start-ups are expected to benefit over a period of 5 Years.

Partners

Government: MeitY, STPI, Govt of Maharashtra, Pune Mahanagar Parivahan Mahamandal Ltd
Academia: College of Engineering Pune (CoEP), SINE IIT Bombay, TiHAN IIT Hyderabad
Industry: M/s. Tata Motors Ltd., M/s. Kinetic Green Energy & Power Solutions, M/s. Intel Technology India Pvt. Ltd., M/s. Visteon Technical and Services Centre Pvt. Ltd and M/s. MathWorks India Pvt. Ltd
Industry Association: Automotive Research Association of India (ARAI), Society of Automotive Engineers India (SAE India), The Indus Entrepreneurs (TiE)

Who can Apply?

STPI MOTION is inviting applications from Startups working in Deep Tech & its applications in the ACES domain. The start-up should 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 should not be beyond 10 years.

If a company is not registered, an application may be made in the names of the promoters/founders. However, the promoters/founders must ensure that the company is registered within a period of 3 months from the date of selection for CoE.

Annual Turnover

Start-ups should have an annual turnover not exceeding Rs. 100 crore for any of the financial years since their incorporation.

Original Entity

Entity should not have been formed by splitting up or reconstructing an already existing business.

Innovative & Scalable

The entity should be working towards innovation, development or improvement of products, services or processes and should have the potential to generate employment/ create wealth.

Other Terms & Conditions

The charges are Rs. 2500/- + tax per seat per month and start-up shall offer equity to STPI/STPINEXT as decided & agreed upon.

Focus Areas

Startups having innovative Idea/Product/Solution using Deep Tech in following focus area:

Autonomous Vehicle
Connected Vehicle
Electric Vehicle
Shared Vehicle

Click here for the problem statement.

The focus area is not limited to above problem statements only. Any other product/solution which caters to one or more of the domains is invited.

Selection Process

Screening, Evaluation & Selection:

Designated Committee(s) shall be formed for Screening, Evaluation & Selection.
All the applications received shall be subject to a rigorous centralized multi-tier screening process with involvement of appropriate experts from respective domain and/or location as deemed fit.
Decision of the designated Committee(s) shall be final & binding on all.

Duration

Application submission– Start Date 10th February 2024
Application submission– End Date 29th February 2024

Offerings

Physical infrastructure including state-of-the-art Ready-to-Work Plug & Play space

Direct mentoring from stalwarts of business/tech domain
Financial Assistance
High-Speed Internet Access
Access to VC funding
Technical Support
Marketing Support
IPR Related Support Services
Access to STPI 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

Incentives

MOTION CoE shall support through initial financial assistance of up to Rs. 2.5 Lakh and guide start-ups for raising funds towards PoC, MVP and Marketing as well as scaling up through grants, equity and debt by leveraging connections with potential customers and CSR/ Corporate sources as well as angels, High Net worth Individuals (HNIs) and VCs as per appropriate size of start-ups.