The government will offer financial support of ₹4.30 crore at various stages of the challenge for developing the hardware prototype and incubating a start-up will be offered
NEW DELHI: Union electronics and information technology minister Ravi Shankar Prasad on Tuesday launched a ‘Swadeshi Microprocessor Challenge’, as part of the government’s vision to become a self-reliant country and give impetus to the start-up ecosystem, innovation and research in the country.
“Swadeshi Microprocessor Challenge- Innovate Solutions for #Aatmanirbhar Bharat seeks to invite innovators, startups and students to use these microprocessors to develop various technology products…this initiative is aimed at not only meeting India’s future requirements of strategic and industrial sectors but also has the potential to mitigate the issues of security, licensing, technology obsolescence and most crucially cutting dependency on imports," an official statement said.
The government will offer financial support of ₹4.30 crore at various stages of the challenge for developing the hardware prototype and incubating a start-up will be offered. While the registration process begins on 18 August, the challenge will be spread over 10 months.
As many 100 semi-finalists will get an opportunity to win a total of ₹1 crore, 25 finalists will win total ₹1 crore, while the top 10 teams entering the finale will get the seed fund of total ₹2.3 crore and one-year incubation support.
“Above all, participants will get an opportunity to translate their innovations around swadeshi processors, showcase them at a higher viewership platform and facilitate them to scale from ideation to marketplace, thereby standing a chance to contribute to the overall mission of AtmaNirbharta of the government," the statement said.