Second Idea Challenge Programme to attract promising start-ups launched by Apiary – A Centre of Entrepreneurship for Blockchain Technology at STPI, Gurugram
Gurgaon : Software Technology Parks of India (STPI), an organization under Ministry of Electronics & Information Technology (MeitY), Government of India via Apiary, a Centre of Entrepreneurship (CoE) in Blockchain Technology, has launched the Second Idea Challenge Programme (ICP 2.0). As part of this initiative, a comprehensive screening process in the form of hackathon, Idea Challenge Program etc. will be conducted to identify and select innovative startups having the potential to create disruptive blockchain-based products and solutions. The theme of the Second Idea Challenge Programme is “UPSCALE” – which brings the focus on start-ups that are ready to launch and scale. The ICP 2.0 portal (https://innovate.stpinext.in/apply-now/apiary_icp_2.0) is open now to receive applications from eligible start-ups and the last date for submission of completed application is Sunday, 03 October 2021.
The ICP 2.0 comes after an overwhelming response to the First Idea Challenge Programme and in line with its mission to empower 100+ Blockchain technology start-ups in the next 5 years, the Second Idea Challenge Programme (ICP 2.0) was launched by Dr Omkar Rai, DG, STPI in the august presence of dignitaries from MeitY, Govt. of Haryana, Academic Partners FITT, IIT Delhi, JC Bose University of Science & Technology, Faridabad, Deenbandhu Chhotu Ram University of Science & Technology, Faridabad, Industry Partner Government Blockchain Association (GBA) and technology partners IBM & Intel to select start-ups from Blockchain domain for the second cohort of Apiary CoE.
“The global blockchain technology market size is expected to expand at a compounded annual growth rate (CAGR) of 82.4% from its current size of USD 5.88 billion in 2021 to USD 394.60 billion by 2028. The investment data in blockchain start-ups, suggests that blockchain startup companies around the world have amassed USD 2.6 billion and USD 4.4 billion in the first and second quarters of 2021 alone, in venture capital funding. Investment in Indian blockchain start-ups has also seen a quantum jump in 2021 as compared to previous years and have already attracted USD 100 million in venture capital funding by June 2021”, said Dr. Rajneesh Agrawal, Director, STPI Noida.
“In the First Idea Challenge Programme that was launched by Dr Omkar Rai, Director General, STPI on 17th of July 2020, a total of ten start-ups were onboarded to the first cohort of Apiary”, said Shri Subodh Sachan, Director, STPI-HQ. “These start-ups are building cutting edge technology for diverse industries such as financial services, supply chain, food & pharmaceuticals, global logistics, smart contracts, digital credit issuance & verification, digital identity management, digital records, tax administration, healthcare & e-governance. This year, we plan to onboard over ten start-ups through this Idea Challenge Programme, ICP 2.0.”
On Launch of Idea Challenge Programme (ICP 2.0) of Apiary CoE, Dr Omkar Rai, Director General, STPI said, “STPI firmly believes that with the promotion of disruptive technology-led innovations & supporting ecosystem, such initiatives will transform India into a hub for new generation software products, through policy support as an enabler, market catalysts for growth and knowledge exchange resulting in innovative product and solutions by next-gen entrepreneurs. I congratulate the Apiary team for assembling a great set of start-ups for the first cohort and expressed that this Idea Challenge Programme shall be equally successful.”