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PhonePe's Indus Appstore, in collaboration with Startup India, on Wednesday announced the launch of the Indus Appstore Emerging Startup Awards.

This initiative, set to run from January 16 to March 30, 2024, will identify and celebrate the most innovative and impactful startups across various key sectors, including fintech, e-commerce, social impact, healthtech, agritech, and gaming.

The Indus Appstore Emerging Startup Awards, are designed to provide a level playing field for emerging startups in India, thereby positioning them to compete with global players. This aligns with the overarching goal of bringing Indian entrepreneurship to the forefront of the global stage.

"We are thrilled to collaborate with Startup India for the Indus Appstore Emerging Startup Awards. Our goal is to foster a vibrant ecosystem where Indian entrepreneurs can thrive and create solutions that cater to our unique market," said Akash Dongre, Co-founder/CPO of Indus Appstore.

"The awards are not just about recognising talent; they are a testament to our commitment to empowering startups to build for India. We believe that these awards will ignite the spirit of innovation and contribute significantly to the Indian startup landscape," he added.

The awards are aimed at identifying and applauding startups that demonstrate exceptional innovation, potential for growth, and a positive impact on the market. Startups registered under the Startup India initiative, operational for at least one year, and having their applications listed on the Indus Appstore Developer Platform, are eligible to participate.

This initiative features a prize pool of Rs 12 lakh, with Rs 2 lakh allocated to the winner in each category.

"Startups that embrace innovation are better equipped to adapt to market volatility, identify new trends, and seize emerging business opportunities. They are agile, flexible, and quick to respond to market needs, giving them a significant advantage over their counterparts," said Aastha Grover, Head - Startup India.

"Through this programme, PhonePe's Indus Appstore is recognising some of the finest and most talented innovators who hold the potential to transform the startup landscape," she added.

Beyond the financial rewards, winners will secure direct entry into the Indus Accelerate Programme -- which brings an opportunity for developers to cut the clutter and make their apps standout amongst the crowded app markets, by providing them higher visibility, optimised user acquisition avenues within the store and ability to market and build their identity within the entrepreneurial community.

The awards are a testament to Indus Appstore's commitment to encouraging Indian startups to build applications and solutions that cater to both local needs and global aspirations.

Interested startups can apply by uploading their app on the Indus Appstore and completing the required questionnaire on the Startup India website. The winners will be announced on March 30.