Motion Open Challenge Program in Deep Tech and its Applications by STPI. The last date for the application is Feb 29, 2024.
“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;
The services available for the beneficiaries of the Motion shall include,
50 start-ups are expected to benefit over a period of 5 Years.
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
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.
Start-ups should have an annual turnover not exceeding Rs. 100 crore for any of the financial years since their incorporation.
Entity should not have been formed by splitting up or reconstructing an already existing business.
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.
The charges are Rs. 2500/- + tax per seat per month and start-up shall offer equity to STPI/STPINEXT as decided & agreed upon.
Startups having innovative Idea/Product/Solution using Deep Tech in following focus area:
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.
Screening, Evaluation & Selection:
Physical infrastructure including state-of-the-art Ready-to-Work Plug & Play space
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.
Interested candidates can directly register through this link.
The last date for the application is Feb 29, 2024.
