fbpx
Edit Content

Apply: NAVONMESH Open Challenge For Startups

NAVONMESH Open Challenge

Applications for the NAVONMESH Open Challenge for start-ups is currently on.

About The NAVONMESH Open Challenge

The NAVONMESH (New Age Vanguard of Novel Ideas in Medical Environs for Secure Health) is a sub-division of MedTech. It is a Center for Entrepreneurship in the field of MediElectronics and Health Informatics.

Start Your Business in 30 Days Even If You Don't Have An Idea
Start Your Business in 30 Days Even If You Don’t Have An Idea

This novel initiative is being set up by consortia comprising of Software Technology Parks of India (STPI), SGPGI Lucknow, Department of IT and Electronics, Government Of UP, Association Of Indian Medical Device Industry (AIMED ), Andhra Pradesh MedTech Zone (AMTZ).

The objective of setting up this initiative is to boost start-ups in medical equipment/electronics and health informatics. Also, to contribute to “Make-in-India” & “Digital India” programs by reducing Health Care Equipment imports and recognising the value of Health Care Equipment & Technology locally.

Apart from physical infrastructure, the CoE will have access to Technocrat/Medical practitioners’ mentorship, mentorship programs, VC funding, Legal and IPR support, Marketing assistance, etc.

See also Regenerate New York Forestry Cost Share Grant.

Eligibility For The NAVONMESH Open Challenge

Applicants from any country can apply.

Company Type – The start-up must be incorporated as a;

  • Private Limited Company (as defined in the Companies Act, 2013) or
  • Registered Partnership Firm (Registered. under section 59 of the Partnership Act, 1932) or
  • Limited Liability Partnership (under the Liability Partnership Act 2008)
  • The date of registration/incorporation must not be beyond 10 years.

Annual Turnover

Start-up should have an annual turnover not exceeding Rs. 100 crore (which is equivalent to 13 million USD) for any financial years since its incorporation.

Original Entity

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

Innovative & Scalable

Entity focusing on product, process, or service innovation, development, or enhancement, or a scalable business model with a strong potential for job creation or wealth creation.

See also Shuttleworth Foundation Fellowship

Terms And Conditions

• Start-ups have to operate from the MedTech CoE Incubation facility at STPI Lucknow CoE at SGPGI.

Go from idea to starting your business in 30 days
Go from idea to starting your business in 30 days

• Each start-up will be offered incubation space as per their requirement.

• Each start-up has to offer designated equity to STPI as per the present valuation.

• The start-up has to pay designated services charges per seat per month for availing incubation facilities.

• The incubates under product development and R&D shall be offered a discount as per the STPI Incubation Policy.

NAVONMESH Open Challenge Areas Of Focus

Start-ups that have innovative Idea/Product/Solution in the following focus areas:

• Mechanical Chest compression Device for Cardio.

• Pulmonary Resuscitation (CPR).

• Patient care.

• Innovation in Imaging- From images to informatics.

• App-based Communication between Patient and Hospital.

• AI-based medical screening for arrhythmias.

• AI-based medical screening for tachy and bradyarrhythmia’s.

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

NAVONMESH Open Challenge 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. 

Deadline

Applications must be submitted on or before 04 October 2021.

What Is NAVONMESH Offering?

  • Physical infrastructure including state-of-the-art Ready-to-Work Plug & Play space.
  • Direct mentoring from stalwarts of business/tech domain.
  • Financial support through seed funding.
  • High speed internet access.
  • Access to VC funding.
  • Technical support.
  • Marketing support.
  • IPR Related Support Services.
  • Access to 19+ 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

MedTech CoE will fund through initial seed support up to 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 the appropriate size of start-ups.

What You Stand To Gain

Each selected start-up that will join the MedTech CoE program would be awarded Rs. 50,000 as prize money.

How To Apply

To apply for this opportunity, click here.

To get resources that will help you start and run a sustainable business, visit our shop page.

Share:

Facebook
Twitter
LinkedIn

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Join Entrepreneurs Family

No spam, only business insights and tips. 

Entrepreneurs Sign Up

Business Registration

Most Popular

Join Entrepreneurs Family

No spam, only business insights and tips. 

Entrepreneurs Sign Up

Related Posts

Cheapest Business Ideas To Start

10 Cheapest Business Ideas To Start In Nigeria

Nigeria’s heartbeat is its entrepreneurial spirit. In a country with endless opportunities, the concept of entrepreneurship is not just a path to personal success; it’s a necessity for national progress. We will be exploring the 10 cheapest business ideas you can start to contribute to the national growth of Nigeria.

Small Business Insurance

Small Business Insurance- Everything You Need To Know

Why does a small business need insurance? Imagine small business insurance as a safety net for your business. It is designed to catch you when unexpected events threaten to tumble your hard work into chaos. This form of insurance comprises various policies designed to provide a financial cushion against the

Power of Trading Signals

The Power of Trading Signals for Financial Market Success

Trading has long captured the hearts and minds of many entrepreneurs worldwide. It offers the opportunity to master the financial markets and capitalize on market movements within its hallowed walls. In today’s article, we will explore the modern tools that assist traders in making potential profits, delving deeper into the

Types of small business insurance

Types of Small Business Insurance Every Business Should Know

Starting a new business is a big deal. It’s exciting and full of possibilities. To move forward confidently, it’s crucial to know about the types of small business insurance that protect your work from costs that unexpected events, like legal issues, damage, or business interruptions, might cause. This article will

Scroll to Top

Join Entrepreneurs Family!

Get access to FREE business insights and funding opportunities daily.

Entrepreneurs Sign Up