All you need to know about “Lakshya Accelerator Program”

Introduction

Lakshya is an annual program hosted by Start2startup to support new businesses. The event is available to businesses in all industries and is the biggest chance for them to secure money from the best venture capitalists and grow their business. If you are a young entrepreneur who has a company concept but still unsure how to put it into practice, then it is the best way to apply for the Start2Startup Lakshya Accelerator Program.

Startups that are eligible for Lakshya Accelerator Program

The following is a list of the startups that are eligible for the Lakshya program:

• Accelerator
• Incubator
• Investor
• Individual
• Concept Development startup
• Starting Validation Stage
• An early start of traction
• Beginning stage of scaling
• Corporate

Eligibility requirements for Lakshya Accelerator Program

The following startups are eligible to apply for the Lakshya program:

• Startups who have their Minimum Viable Product (MVP) and are prepared to enter the market may apply for the scheme.
• Startups that are generating revenue can also apply for the program.
• Startups at the growth stage are mostly preferred

Focused Areas for Lakshya Accelerator Program by Start2startup

Start2Startup Challenge is looking for partnerships and projects with companies on any of the below topics

• Healthcare & Life Sciences, Hardware Technology, and Renewable Energy
• IT Services, Human Resources, and the Internet of Things
• Nanotechnology, non-renewable energy, and marketing
• Airport operations, security services, and real estate
• Animals & pets, media & entertainment
• Design, dating matrimonial, and education
• Retail, household services & professional services
• Analytics, advertising, and interior architecture
• Automotive and AR VR (Augmented + Virtual Reality)
• Chemicals, animation, arts and photography
• Networking, communication, and computer vision
• construction, agriculture, aerospace, aeronautics, and defense
• Events, Green Technology, Fashion, and AI
• Passenger Experience , biotechnology
• Toys, waste management
• Food and beverages, business software, and financial technology
• Social media, sports, textiles and apparel, social impact
• Indic language startups, Transportation, and Storage
• Travel, logistics, and tourism
• Robotics, safety, and other specialty retailers

Timeline of Lakshya Accelerator Program for 2022

Prize Details

• Funding upto10 Crores
• Fiscal Incentives: Financial Support from the VCs
• Non-Fiscal Incentives: Industry Connect, Mentorship, and Networking

Procedure for Lakshya Accelerator Application

The deadline for applications to the Start2Startup Lakshya Accelerator Program was May 17/2022. It is necessary for the candidate to visit Startup India’s official website.

• From the main page of the website, select View all active program under the Programs option.
• The list of open challenges maybe seen by selecting the Challenges link on the new page. The link will take you to a different page if you click on the Lakshya Accelerator Program.
• When you select “Apply Now,” the Startup India login screen will appear.
• Existing Startup India users can log into the application portal to submit an application for the program.
• The user password may only be obtained by registering new users on the portal.

Process Following Submission

The event will consist of two phases.

Phase 1: All submissions will be reviewed, and startups that have been shortlisted will be notified.

Phase 2: All of the firms that have been shortlisted will present their business plans to VCs and angel investor.

Conclusion

Lakshya is a digital savings platform that gives low and middle-income (LMI) sectors in India that provides access to formal savings and insurance. It encourages the community’s formal acceptance of financial services and financial health.

Suggested Read: Startup Business Grants In India