Fisheries Startup Grand Challenge - Startup India
India is home to more than ten percent of the world's fish variety and ranks second in overall fish output. The aquaculture market is currently valued at $17 billion, with fish accounting for 92 percent of total output. By 2022, the Indian aquaculture business is predicted to reach $19 billion, with output and exports set to treble in the following five years.
The Department of Fisheries ("DoF") is one of two departments that make up the Ministry of Fisheries, Animal Husbandry, and Dairy. The Government of India has made significant expenditures in the building of new fishing harbours and fish landing centres, emphasising the importance of the fisheries sector's growth. Today, India is home to more than 50 companies working in the field of fisheries and aquaculture.
DoF would aim to find and assist innovations and entrepreneurs working in the aquaculture and fisheries industry through its relationship with Startup India in order to accelerate the growth of this sector.
Program Details of Startup Challenge from Fisheries
DETAILED ELIGIBILITY CRITERIA
- The Fisheries Startup Grand challenge would be open to DPIIT recognized Startups working in the areas indicated in the problem statements (we encourage startups to get recognised by DPIIT and apply for the challenge)
- The Startup should have a minimum viable product or service with a market fit, viable commercialization, and scope of scaling
PROBLEM STATEMENT of Department of Fisheries where it looking for solution from Startup India community
Enhancing quality of production in fisheries and aquaculture sector
- Design and develop technology / solutions for enhancing the productivity so that the fishers & fish farmers can achieve better price realization
Design and develop infrastructure solutions across the fisheries and aquaculture value chains
- Develop infrastructure and post-harvest management solutions that will enable fishers, fish farmers in creating value addition, value creation and value realization ensuring minimal wastage across the fisheries value chain
Innovative branding and promotion for increasing consumption of fish and fish products
- Develop business solutions and outreach activities that will make fish and fish products easily accessiblle, acceptable and popular among the meat consuming population in the country
Innovative solutions for combating environmental issues related to fisheries and aquaculture sector
- Develop sustainable solutions to reduce/stop soil erosion, siltation of the water bodies and develop eco-friendly solutions for costal fishers
Incentives provided by Department of Fisheries for finalist & successful startup
Fiscal Incentives
- Cash Grants for 12 startups worth INR 2 Lakhs each
- Incubation Support for up to 10 startups for 9 months
Non-Fiscal Incentives
- Masterclasses for shortlisted startups
Special Incentives
- Seed Grant for upto 10 startups worth INR 2.5 Crore under the larger umbrella of DoF’s flagship scheme, Pradhan Mantri Matsya Sampada Yojana PMMSY.
- As per the PMMSY guidelines, Govt assistance of upto Rs 20 lakhs for general category or upto Rs 30 lakhs for SC/ST/Women category will be provided against a unit cost of Rs 50 lakhs, subject to the condition that they mobilize the remaining funds (beneficiary contribution) i.e is upto INR 30 Lakhs (Gen Category) or upto INR 20 Lakhs (SC/ST/Women Category) – assuming the unit cost of INR 50 lakhs.
Note: It is encouraged that Startups may mobilize beneficiary contribution from angel investors or venture capitalists or any other investment sources in the startup ecosystem.
Timeline for submitting the entries
Procedure Post Submission
- Evaluation of startups to be undertaken once applications are closed.
Contact the Host
- ORGANISATION NAME - Startup India
- PERSON IN CHARGE - Sana Dewan
- DESIGNATION - Assistant Manager
- SUPPORT EMAIL ID - fisheries@investindia.org.in
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