Startup India Current Affairs - 2020
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The Facebook-owned messaging app WhatsApp has announced Startup India-WhatsApp Grand Challenge to encourage entrepreneurs and small businesses in India.
About the challenge
The challenge is being hosted in association with Invest India. The top 5 winners would receive a cash prize worth $250,000 (roughly Rs. 1.8 crores).
The challenge is aimed at encouraging the entrepreneurs who have innovative ideas, business models that solve for a local India problem, making a large scale socio-economic impact.
The themes for this Start-up challenge are healthcare, rural economy, financial and digital inclusion, education and citizen safety.
The applications will be evaluated by an independent evaluation committee and out of which the best 30 ideas will be shortlisted for the subsequent round and further 10 in the following round.
The selected 10 ideas would participate at the live pitch day during the grand finale and the top 5 would be awarded grants worth $250,000 (roughly Rs. 1.8 crores).
Invest India is a not for profit entity established under the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry in 2009.
It is a national investment promotion and facilitation agency focussing on sector-specific investor targeting and development of new partnerships to enable sustainable investments in India.
Tags: Department for Promotion of Industry and Internal Trade. • education and citizen safety. • financial and digital inclusion • Healthcare • Invest India
Prime Minister Narendra Modi was awarded first ever Philip Kotler Presidential Award. Philip Kotler Presidential Award aims to spread examples of individuals and companies who create an innovative culture for the economic, social and technological advancements of an industry or a country.
Why PM Modi was conferred with the award?
The citation of the award underlines the following achievements of the PM Modi for conferring the award:
- PM Modi was selected for his outstanding leadership for the nation.
- PM Modi’s selfless service towards India, combined with his tireless energy has resulted in extraordinary economic, social and technological advances in the country.
- Under PM Modi’s leadership, India is now identified as the centre for innovation and value-added manufacturing (Make in India), as well as a global hub for professional services such as information technology, accounting and finance
- Modi’s visionary leadership has also resulted in the digital revolution (Digital India), including the Unique Identification Number, Aadhaar, for social benefits and financial inclusion.
- Initiatives such as Make in India, Startup India, Digital India and Swachh Bharat have positioned India as one of the most lucrative manufacturing and business destinations in the world
Philip Kotler Presidential Award
Philip Kotler, a professor of marketing at Northwestern University, Kellogg School of Management is also known as ‘Father of Modern Marketing’. Apart from marketing, Philip Kotler has extensively written on education, environment, government marketing, healthcare, hospitality, and innovation.
The Philip Kotler Presidential Award is constituted to honour mastery in the field of marketing and management. The award recognises and celebrates achievements of organisations, marketing teams, and individuals in different industries around the world.