The final round of the EDC Technology Startup Competition initiated by the Government of Goa with the objective of encouraging entrepreneurs and generating quality employment opportunities within the state will be held on April 16.

The state government, had announced the competition through Electronic Development Corporation (EDC) for tech startups that are in operation in Goa for the last two years. Funding of 10 lakh will be offered to the winning Goan startups that are innovative and introduce a product innovation or a service. Besides a cash prize, the first prize winner will be given the Chief Minister’s Award for Best Technology Startup from Goa.

The competition launched in January by Chief Minister Laxmikant Parsekar received 35 applications in all from Tech startups across Goa.

The Corporation along with its Honorary advisor, having experience in IT industry, thereafter shortlisted 19 applicants.

8 Finalist have been shortlisted from these 19 applicants. These 8 applicants will be presenting their Startup product and will interact with judges on 16th April, 2016 in EDC House, Panaji – Goa said EDC officials.

The winner of the startup competition will be chosen from these eight finalists. The Awards Presentation ceremony for the competition is likely to be held in the first week of May 2016 according to sources.

EDC Limited, Mohandas Pai, Persistent Systems Limited, Vinod Tharakan, Onkardatta Deshpande and Bhakti Niranjan Mujumdar have contributed to the fund through which the winners will be awarded prizes.

Key incentives include, free incubation support at Assagoa, Bardez, for 12 months for the winner, seed capital investment of a maximum of 10 lakh each for the top three winners, based on due diligence of the startup.

Successful startups are also eligible for incentives that the Centre for Incubation and Business Acceleration (CIBA) has agreed to offer.

The startups will also be eligible for service tax exemption for 3 years as per the guidelines of the central government of India. CIBA will also provide free training and mentoring support as well as support for intellectual property rights.