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