Assam Startup is an initiative by Assam Government to create a start-up ecosystem in the state. The vision of this initiative is to create a culture of entrepreneurship in Assam by promoting and empowering the youth to become job creators and pursue their entrepreneurial dreams. Thereby, transform Assam into a leading Start-up hub in the country.

Startup Assam

Vision :

The vision of Startup Assam is to “Create a culture of an entrepreneurship in Assam by promoting and empowering the youth to become job creators and pursue their entrepreneurial dreams, thereby transforming Assam into a leading Startup Hub of India by 2020.”

Mission :

“Startup Assam aims to facilitate the growth of 1,000 new startups over the next 5 years and attract funding opportunities of $250 million. It aims to create 1 lakh job opportunities in the next 5 years.”

Incubators :

Startup Assam has partnered with various institutions, colleges, universities and institutes across Assam to establish “Entrepreneurship Cells” in their campus. Their E-cells are acting as a spoke to Assam Satrtup-the nest and are promotingstartup entrepreneurs locally. E-cells are also coordinating with the nest to provide incubation facilities to the interested startups (both physical and virtual). The universities, institutions, colleges, etc., i.e. the academia, are playing an important role in spreading awareness and developing an entrepreneurial ecosystem and mindset amidst the students and the youths.

Benefits for Incubators :

Government of Assam will provide financial assistance to institutes/organizations with maximum 75% of grant, subject to a maximum of INR 5 crore to encourage setting up of incubation centres by IT, Engineering colleges, Universities, Bio-technology park, educational institutions, Trade & Industry Associations,etc. towards cost of construction of building, equipment, connectivity etc.

Startup Recognition -MASI

MASI is an acronym for My Assam Start-up Id. MASI will enable an entity to get recognised as a startup under the Assam Startup Policy. Subsequently a startup with a MASI Id will have access to the state-wide infrastructure network and also to fiscal and other benefits under the Assam Startup Policy through the Assam start-up portal

Eligibility Criteria for MASI Recognition:

The registration can be done online by simply filling a standard form available in the “Apply Now” section in the official website of Startup Assam and uploading the following set of documents:

1. Incorporation certificate.

2. Proof of innovation as per any of the following:

3. DIPP Startup India recognition certificate with one page write up of note on Innovation;

   Startup has a patent filed in the entity name and published in the Journal by the India Patent Office in areas affiliated with the nature of business being promoted with one page write up of note on Innovation with one page write up of note on Innovation;

Sanction / Assurance Letter of funding / grant to the entity by Government of India or any State Government as part of any specified scheme to promote innovation with one page write up of note on Innovation;

Letter of funding by any Incubation Fund/ Angel Fund/ Private Equity Fund/ Accelerator/ Angel Network duly registered with Securities and Exchange Board of India that endorses innovative nature of the business with one page write up of note on Innovation with one page write up of note on Innovation;

If an entity doesn’t possess any of the above mentioned four documents, they may submit a one page write-up / note explaining innovative nature of the applicant entity. The applicant entity is encouraged to share its business plan along with the note on innovation.

How to apply?

Eligibility

1. Applicants must be adult Indian citizens, i.e. only those who have completed 18 years from date of notification.

2. Applicant must have an existing business in Assam or willing to set up a new business in Assam, thereby contributing to economic development Assam.

3. Having at least a Minimum Viable Product (MVP) with Proof of Concept (POC)

4. Should ideally have demonstrated some traction from customers

5. Preference will be given to those with a full-time core team

6. The plan / venture should not belong to following industries- alcohol, tobacco, gambling, firearms and explosives.

7. The business should not be an expansion or extension of an existing business (including Family business)

Process

The entire process of getting enrolled (for startups) and incubated in Assam Startup- the nest is highlighted below:

1. Click on the “Apply Now” button and fill up the form to enrol your startup for the selection process

2. Your application will be screened as per the set guidelines through a three-stage screening and selection process.

3. You will be thereafter informed about your startup’s/ idea’s selection or rejection for final presentation.

4. If selected for presentation, you will be called for a presentation of your business plan/idea to various Selection Committee Panels.

5. Based on your final presentation your startup will be selected or rejected for incubation in Assam Startup- the nest.

6. After selection you will be onboarded for incubation through a pre-defined process.