DIMAPUR: YouthNet has invited applications from eligible start ups for the Pilot Component of MeitY GENESIS Pilot 2.0, a programme of the Ministry of Electronics and Information Technology (MeitY), implemented through the MeitY Startup Hub (MSH).
According to a press release, the programme is designed to help start ups deliver pilot projects with government bodies, public sector undertakings (PSUs) and large enterprises. Eligible applicants can receive funding of up to Rs. 40 lakh, based on verified costs of delivering their pilot project.
Neikepekho Shosahie, associate director of YouthNet, said the programme offers significant opportunities for Nagaland’s technology start ups that are ready to scale and can demonstrate investment readiness. He added that the YouthNet Incubation Centre (YIC), the only implementing partner in Nagaland, has already facilitated financial and incubation support for several start ups under different components of MeitY GENESIS.
The release stated that GENESIS (Gen Next Support for Innovative Startups) is a MeitY initiative to strengthen the start up ecosystem in Tier II and Tier III cities. Its Pilot Component supports start ups with a Purchase Order (PO) or Work Order (WO) to test and demonstrate market ready solutions in real world settings, build industry credibility and pursue repeat business.
Funding of up to Rs.40 lakh will be determined by verified pilot delivery costs set out in the utilisation plan, with YIC recommending the amount and MSH making the final decision. Equity of up to 3% of the start up’s fully diluted post money shareholding will be allotted to the IA in its own name for MSH’s benefit as beneficial owner. The fair value per share must be supported by a valuation report from a SEBI registered Merchant Banker or an IBBI registered Valuer.
Applicants must be DPIIT recognised start ups incorporated in Tier II or Tier III cities, between one and five years old, with Indian founders holding at least 51% start-up. They must also have an MVP or working prototype, at least one full time founder, and a pilot PO/WO valued between Rs.1 lakh and Rs.1 crore from an eligible, independent pilot partner. The order must cover deployment of the start up’s own product.
Further, cumulative start up revenue must not exceed Rs.1.5 crore, previous government funding must not exceed Rs.40 lakh, and previous private funding must not exceed Rs. 1.5 crore.
Applications will remain open until October 30, 2026. Interested start ups may visit the YouthNet website or follow its official social media channels for detailed guidelines, eligibility criteria and application instructions.
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