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News: GENESIS EIR 3.0 was launched at the GENESIS NextGen Startup Summit, Coimbatore Edition at Rathinam Global University, Coimbatore.
About GENESIS NextGen Startup Summit
- GENESIS NextGen Startup Summit was held at Coimbatore.
- The summit was organized as a collaborative platform to inspire, connect and empower aspiring entrepreneurs, startups, innovators, researchers, students, academia, industry leaders and ecosystem partners
- Focus: Its focus was on promoting innovation-led entrepreneurship through knowledge sharing, mentorship, networking and ecosystem collaboration.
- Highlight of the summit:. GENESIS EIR 3.0 was launched at the GENESIS NextGen Startup Summit.
- It is a component of the GENESIS (Gen-Next Support for Innovative Startups) scheme, aimed at discovering, supporting and accelerating startups, particularly in Tier-II and Tier-III cities.
- Through its Entrepreneur-in-Residence component, it provides focused funding and incubation support to help innovators, students and entrepreneurs convert early-stage ideas into pilot-ready solutions.
- Implemented by: It is being implemented by MeitY Startup Hub.
- It supports early-stage innovators developing technology-based solutions in Electronics, Information Technology (IT), Information and Communication Technology (ICT) and DeepTech.
- Selected applicants will receive incubation, mentorship, ecosystem access, networking opportunities and financial assistance of up to ₹10 lakh through participating GENESIS incubators.
- Through this initiative, MeitY Startup Hub seeks to strengthen India’s technology startup ecosystem and empower innovators from across the country to build scalable and impactful ventures.
About GENESIS
- Gen-Next Support for Innovative Startups (GENESIS) is a flagship initiative of MeitY Startup Hub.
- It was launched in 2022 by MeitY.
- It is designed to discover, support, grow and accelerate startups across India’s Tier-II and Tier-III cities.
- Budgetary outlay: It has total budgetary outlay of ₹490 crore.
- Components: Through its Entrepreneur-in-Residence, Pilot, Investment and DeepTech funding components, GENESIS supports startups and innovators from early ideation and experimentation through to validation, investment and scale.
- It seeks to unlock the entrepreneurial potential of emerging regions and connect them more deeply with India’s growing innovation ecosystem.
