MedTech, Center of Entrepreneurship in Medielectronics and Health Informatics "Open Challenge Program 5.0 (OCP 5.0) is announced. The objective is to promote start-ups in the field of Medical Devices/Electronics.

WHO CAN APPLY

Company Type
The start-up must be incorporated as a
1. Private Limited Company (as defined in the Companies Act, 2013) or
2. Registered Partnership Firm (Regd. under section 59 of the Partnership Act, 1932) or
3. Limited Liability Partnership (under the Liability Partnership Act 2008).
4. 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 for any of the 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 working towards innovation, development, or improvement of products, processes, or services or if it is a scalable business model with high potential of employment generation or wealth creation.

Terms & Conditions
1. Start-ups have to operate from the MedTech CoE Incubation facility at STPI Lucknow CoE at SGPGI.
2. Each start-up will be offered incubation space as per their requirement.
3. Each start-up has to offer designated equity to STPI as per the present valuation.
4. The start-up has to pay designated service charges per seat per month for availing incubation facilities.
5. The incubates under product development and R&D shall be offered a discount as per the STPI Incubation Policy.

FOCUS AREAS
Startups having innovative Ideas/Products/Solutions in the following focus areas:
1. Early Disease Diagnosis.
2. Next Generation Technology.
3. Networking with Healthcare Professionals.
4. Point of Care- Wireless Monitoring System.

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 is invited.

SELECTION PROCESS
Screening, Evaluation & Selection:
1. Designated Committee(s) shall be formed for Screening, Evaluation & Selection.
2. All the applications received shall be subject to a rigorous centralized multi-tier screening process with the involvement of appropriate experts from the respective domain and/or location as deemed fit.
3. Decision of the designated Committee(s) shall be final & binding on all.

OFFERINGS
1. Physical infrastructure including state-of-the-art Ready-to-Work Plug & Playspace
2. Direct mentoring from stalwarts of the business/tech domain
3. Financial Support through seed funding
4. High-Speed Internet Access
5. Access to VC funding
6. Technical Support
7. Marketing Support
8. IPR Related Support Services
9. Access to 19+ CoE Labs PAN India
10. End-to-end marketing plan to place your start-up on the global map
11. Legal, Accounting, IPR/Patenting Facilitation & other support Service
12. Cross-border collaboration via international promotional agency partners
13. Sponsorship to National/International level events to showcase your products for global exposure.

INCENTIVES
Special prize for Women Entrepreneurs Selected and On-boarded (Top 3 pitches) through OCP5.0
1. 1st Prize- 1,00,000/-
2. 2nd Prize- 75,000/-
3. 3rd Prize- 50000/-

For technical queries in filling out the application form, please contact: startup.pmu@stpi.in