In a significant move to bolster India’s startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT), in collaboration with prominent partners such as Avaana Capital, LetsVenture, Karnataka Digital Economy Mission (KDEM), IVCA, and HDFC, has launched the ‘Startup Maha Rathi’ challenge. This initiative, part of the second edition of Startup Mahakumbh, aims to provide substantial support to emerging entrepreneurs across the nation.

The ‘Startup Maha Rathi’ challenge offers a prize pool of up to ₹30 crore, designed to empower startups with the necessary resources to scale their operations. Beyond financial support, the program provides mentorship from industry experts and networking opportunities with global investors, aligning with India’s vision of becoming a developed economy (Viksit Bharat) by 2047.

The challenge is open to entrepreneurs operating in 11 critical sectors:

• Artificial Intelligence (AI) & DeepTech
• Biotechnology & HealthTech
• Gaming & Sports
• FinTech
• Incubators & Accelerators
• Mobility
• Agritech
• Business-to-Business (B2B) & Precision Manufacturing
• Direct-to-Consumer (D2C)
• ClimateTech
• Defence & SpaceTech

This sector-specific approach ensures that the initiative addresses diverse areas of innovation, fostering growth across various industries.

The competition follows a structured, multi-phase selection process:

• Application Phase: Launched on February 26, 2025, with a deadline of March 7, 2025. Eligible startups must be DPIIT-recognized entities in their early or growth stages, operating in India as a Private Limited Company, LLP, or Partnership Firm.
• Virtual Presentations: Shortlisted startups will present virtually to a jury panel between March 15 and 25, 2025.
• Grand Finale: An exclusive live pitching event from April 3-5, 2025, at Bharat Mandapam, New Delhi.

Incentives and Awards
The challenge offers a tiered incentive structure:

• Grand Jury Shortlist: Each startup receives ₹1 lakh.
• Top Two Startups in Each Sector: Awarded ₹10 lakh each.
• Next Five Startups in Each Sector: Receive ₹5 lakh each.
• Following Five Startups in Each Sector: Granted ₹3 lakh each.

In addition to financial grants, participating startups will receive expert guidance and investor access through a jury comprising over 100 leading venture capitalists, angel investors, and domain specialists.

Union Minister for Commerce and Industry, Shri Piyush Goyal, emphasized the initiative’s significance,”The Startup Maha Rathi initiative marks a pivotal stride toward achieving India’s vision of ‘Viksit Bharat 2047.’ By offering strategic financial support and expert mentorship, this initiative will empower the nation’s most promising startups to scale, innovate, and drive transformative change, strengthening India’s position as a global leader in entrepreneurship and innovation.”

Shri Amardeep Singh Bhatia, Secretary, DPIIT, added, “India’s startup ecosystem is at an inflection point, and initiatives like this are crucial in ensuring that high-potential ventures receive the right support to thrive. By enabling a strong innovation-driven culture, the initiative will play a pivotal role in shaping the next generation of disruptive entrepreneurs.”

The ‘Startup Maha Rathi’ challenge represents a landmark effort to nurture and support India’s burgeoning startup ecosystem. By providing substantial financial incentives, mentorship, and networking opportunities, the initiative aims to catalyze innovation and entrepreneurship across the nation, aligning with the broader goal of establishing India as a developed economy by 2047.

Key Highlights:

• The Department for Promotion of Industry and Internal Trade (DPIIT), along with partners like Avaana Capital and HDFC, has launched the ‘Startup Maha Rathi’ challenge with a ₹30 crore prize pool.
• The initiative targets 11 key sectors, including AI & DeepTech, Biotech & HealthTech, and FinTech, aiming to empower startups with funding, mentorship.