Piyush Goyal announces Rs 70 crore challenge money to encourage new Indian startups

The second edition of Startup Mahakumbh 2025, a flagship event organized by the Department for Promotion of Industry and Internal Trade (DPIIT), is hosting a series of competitions to promote innovation in fields such as cybersecurity, AI, robotics, biotech, and more.

According to Union Minister of Commerce and Industry Piyush Goyal, the prize pool for the competition will be Rs 70 crore.

Goyal, while speaking at the Startup Mahakumbh 2025, said that the Startup MahaRathi Challenge is India's largest privately funded challenge and that it aims encourage new startups.

₹70 crore challenge money to encourage new Startups!#StartupMahakumbh pic.twitter.com/Il41OdyqTT

— Piyush Goyal (@PiyushGoyal) April 3, 2025

Details and eligbility

The competition, open exclusively to DPIIT-recognised startups, invited applications between February 26 and March 12, 2025. Eligible participants were required to be in the early or growth stages and actively operational across Indian markets.

Shortlisted startups will gain access to sector-specific mentorship programmes. The top 150 startups will pitch their ideas to a Grand Jury at Startup Mahakumbh 2025. The competition will conclude with a live pitching finale during the event in New Delhi.

The initiative offers a comprehensive support package that includes both financial and strategic incentives. Winners will receive funding, business grants, and corporate credits, alongside non-monetary benefits such as mentoring, networking opportunities, and exposure to investors, policymakers, and industry leaders.

According to the official website, the programme is structured around multiple innovation clusters: AI and deep tech, cybersecurity, gaming and sports tech, climate-focused solutions, agritech, and fintech, among others.