The Department for Promotion of Industry and Internal Trade (DPIIT), in collaboration with Avaana Capital, LetsVenture, Karnataka Digital Economy Mission (KDEM), IVCA, HDFC, and others, has launched the Startup Maha Rathi Challenge as part of the second edition of Startup Mahakumbh. This initiative aims to support Indian startups with funding, mentorship, and networking opportunities, contributing to India's vision of Viksit Bharat 2047.
The challenge offers Rs 30 crore in funding, mentorship from industry experts, and connections with global investors. Special awards will be given to startups from emerging states and union territories. Union Minister for Commerce and Industry, Piyush Goyal, highlighted the initiative's significance in strengthening India's position as a leader in entrepreneurship and innovation.
The program supports startups across 11 key sectors, including AI and deep tech, biotech and health tech, fintech, agritech, mobility, climate-tech, defense and space tech, and more. Selected startups will gain exposure to global markets, investor access, and national recognition by DPIIT.
The competition begins with applications opening on February 26, 2025, followed by a live pitching finale from April 3-5, 2025, at Bharat Mandapam, New Delhi. Startups reaching the grand jury round will receive Rs 1 lakh each. The top two startups in each sector will be awarded Rs 10 lakh, while the next five will receive Rs 5 lakh, and another five will get Rs 3 lakh each.
Apart from financial grants, participating startups will receive expert guidance and investor access through a panel of over 100 venture capitalists, angel investors, and industry specialists from Startup India and other organizations.
Amardeep Singh Bhatia, Secretary of DPIIT, emphasized the importance of such initiatives in supporting high-potential startups and fostering a strong innovation-driven culture.
The Startup Maha Rathi Challenge is a major step towards creating a robust startup ecosystem in India by providing emerging entrepreneurs with financial support, mentorship, and networking opportunities.
Comments