Rajiv Gandhi Entrepreneurship Program – Innovate Karnataka

Rajiv Gandhi Entrepreneurship Program

Inviting applications from eligible candidates under Rajiv Gandhi Entrepreneurship Program to cultivate innovation and foster entrepreneurship among young & talented graduates.

The Department of El, IT & Bt, Government of Karnataka invites applications (online mode) from Innovators who have completed 3 year or 4 year-graduation programme (Science/Engineering stream) in Karnataka for an early-stage funding program that nurtures ideas and innovations to promote innovative endeavors, startups initiated by students or entrepreneurs.

For details about the program and eligibility criteria please visit https://bit.ly/4bETDd8.

The last date to submit of application form: is 13/08/2024 up to 5.00 pm.

Link to application form https://forms.gle/Zet7fPAwsjpihCij9.

Rajiv Gandhi Entrepreneurship Program (RGEP)

About the program:

• An early-stage funding program that nurtures ideas and innovations to promote innovative endeavors, startups initiated by students or entrepreneurs.
• A pivotal initiative designed to cultivate innovation and foster entrepreneurship among young & talented graduates, constituting a shift from traditional job seeking to entrepreneurship by offering them viable career options and to stimulate job creation and technological advancements, thereby promoting an innovation-driven economic growth within Karnataka.
• RGEP aims at supporting 30 innovators identified through a selection process, through a monthly stipend/subsistence grant of Rs.25,000 for a period of 12 months, helping them survive the uncertainties during the phase of ideation. It typically concludes with Prototype / Minimum Viable Product (MVP) / Proof of Concept that has business potential.
• Innovators in the RGEP will be required to attach with designated Innovation Hubs, such as K-Tech partners and the progress of the innovator during the period of program (12 months) would be monitored by them, ensuring that all innovators are closely monitored through their entrepreneurial journey.

Rajiv Gandhi Entrepreneurship Program – Eligibility Criteria

The innovator / applicant should:

• be a citizen of India (domicile of Karnataka)
• have completed 3 or 4 years of degree (science/engineering) and have 2 years full time work experience post degree,
• should not be working as an employee with any company for remuneration (contract/outsourced/permanent),
• should not have invested/hold any stake in any other Startup
• must be 28 years or younger as on the date of application
• must be solely dedicated to pursuing the proposed business idea for the program duration of 12 months after selection.

Evaluation Process for Rajiv Gandhi Entrepreneurship Program

1. Step 1- Data Sufficiency: In this stage, the applications received shall be vetted to check for basic eligibility and submission of eligibility documents including pitch deck to ensure requested information is submitted and is authentic.
2. Step 2- Jury Evaluation: Shortlisted applicants shall be invited in person to present their innovations/ideas in front of a jury panel comprising of 3 members from the industry associations, academia, and corporates. The assessment shall be conducted for 15 mins per innovator.

Evaluation Parameters:

1. Novelty/Innovation (30 Marks)
2. Potential Socio-economic Impact (30 Marks)
3. Strength of Business Model (20 Marks)
4. Feasibility and Implementation (10 Marks)
5. Commercial Potential (10 Marks)

Based on the evaluations, top 30 innovators shall be selected and supported for 12 months.

APPLY ONLINE HERE

Keywords: Innovate Karnataka, Rajiv Gandhi Entrepreneurship Program, Karnataka Government, Innovation, Entrepreneurship, Startup Funding. Rajiv Gandhi Entrepreneurship Program – Innovate Karnataka, Apply Online. Please ensure you are subscribed to the Biotecnika Times Newsletter and our YouTube channel to be notified of the latest industry news. Follow us on social media like Twitter, Telegram, Facebook and Instagram.