Government Unveils 'Cyber Security Grand Challenge 2.0' with Rs 6.85 Crore Prize Fund
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Synopsis
On January 15, the government launched the 'Cyber Security Grand Challenge 2.0', offering a prize pool of Rs 6.85 crore. This initiative aims to support startups with mentorship and market access while allowing them to retain intellectual property rights for their innovations.
Key Takeaways
- Cyber Security Grand Challenge 2.0 offers Rs 6.85 crore in prizes.
- Focus on supporting startups with mentorship and resources.
- Participants retain Intellectual Property Rights for their solutions.
- Registration open until February 14 for various cybersecurity challenges.
- Winners receive substantial monetary rewards at multiple stages.
New Delhi, Jan 15 (NationPress) The government on Wednesday unveiled the ‘Cyber Security Grand Challenge 2.0’ (CSGC 2.0) with a remarkable total prize pool of Rs 6.85 crore, significantly increasing from Rs 3.2 crore allocated during the inaugural edition.
This initiative aims to offer mentorship, capability-building, and market access to innovators, startups, and emerging entrepreneurs, in line with the aspirations of Digital India, Atmanirbhar Bharat, and Viksit Bharat.
A distinctive aspect of this challenge is that the Intellectual Property Rights (IPR) for the products developed by participants will remain with the respective startups.
The entire process of ‘CSGC 2.0’ will unfold through multiple phases, with mentorship available at each stage, as stated by MeitY.
“The Cyber Security Grand Challenge 2.0 represents a significant government-supported endeavor featuring a generous prize amount of Rs 6.85 crore aimed at recognizing startups that deliver innovative cybersecurity solutions,” remarked S. Krishnan, Secretary, MeitY.
Participants in the Grand Challenge are required to devise solutions addressing six specific problem statements.
Registration is currently open until February 14 for creative solutions in API Security, Data Protection, Wearable Privacy, Clone App Mitigation, AI Threat Detection, and Biometric Security.
“I anticipate that the participants and winners will spearhead change and develop innovative security solutions that will enhance India’s digital progress,” he added.
The challenge includes an additional phase, the ‘Go-to-Market’ stage, along with three key stages: Idea, Minimum Viable Product (MVP), and Final Product.
This expands recognition opportunities by qualifying six startups for each problem statement at the Idea Stage, totaling 36 startups acknowledged in the early phases, each receiving Rs 5 lakh, alongside 18 startups awarded Rs 10 lakh in the Minimum Viable Product stage.
At the Final Stage, winners for each of the six problem statements will be announced, each receiving Rs 25 lakh.
“Post the Go-to-Market Stage, which is the concluding phase of the Grand Challenge, the Platinum Winner will be awarded Rs 1 crore, while the Gold Winner and Silver Winner will receive Rs 50 lakh and Rs 25 lakh respectively,” the ministry indicated.
