The government is going to announce the results of the first edition of the National Start-up awards on Tuesday to recognize the outstanding start-ups and reward them for their initiative to generate employment and wealth. The first edition of awards welcomed applications from 12 sectors, such as agriculture, finance, food, health, energy, education, enterprise technology, space, security, industry 4.0, tourism, and urban services.
The commerce and industry minister said that the winning start-up founders will get Rs 5 lakh cash prize and the incubators and the accelerators will win a cash prize of Rs 15 lakh. The ministry also added that the success of the start-ups would not only be measured by their financial gains but their contribution to the society.
Piyush Goyal, minister of commerce and industry informed in the Parliament that a total of 36,106 startups have been recognised since the launch of the Startup India initiative in 2006, which also contributed to the rise of employment.