AP government invited proposal from startups, first generation entrepreneurs and MSMEs under Innovation Awards and Suo Moto Proposals on Innovative Products/Solutions.
- The start-ups and companies with a turnover of less than ₹50 lakh p.a. are eligible to submit their proposals under Innovation Awards and if selected will be granted an amount of ₹ 1.00 lakh per product.
Suo Moto Proposals
- Suo Moto Proposals is for Startup or MSME or Enthusiastic First Generation Technocrats or Entrepreneurs with an annual turnover between ₹ 50 lakhs and ₹ 25 crores and belons to Electronics and IT sectors from Andhra Pradesh
- The companies outside Andhra Pradesh can also apply under Suo Moto Proposals under condition that if their product or solution is selected they shall open a development center in Andhra Pradesh. Assistance will be provided only on opening of such center in A.P
- The cost of a product proposal selected should not exceed more than Rs. 5 crores.
- If it exceeds Rs. 5 crores, such a product proposal selection will be on the basis on the normal procurement produce but not under this scheme.
Major focus will be on Innovative products or solutions that address societal problems
A prescribed format for submitting the proposals have been uploaded on the government website and last date for submission is October 30, 2015.
Source : http://apit.ap.gov.in