‘Cyber Security Grand Challenge 2.0’ is launched by the center with a prize fund of Rs 6.85 crore

‘Cyber Security Grand Challenge 2.0’ is launched by the center with a prize fund of Rs 6.85 crore Theindiaprint | 16/01/2025 14:27:09

With a prize money of Rs 6.85 crore, more than double the Rs 3.2 crore awarded in the inaugural edition, the government inaugurated the “Cyber Security Grand Challenge 2.0” (CSGC 2.0) on Wednesday.

In keeping with the objectives of Digital India, Atmanirbhar Bharat, and Viksit Bharat, the program will provide mentoring, capability-building, and market access to innovators, startups, and aspiring entrepreneurs.

One special aspect is that the corresponding startup will hold the intellectual property rights (IPR) of the product being produced as part of the competition.

According to MeitY, the whole “CSGC 2.0” process would be divided into many phases, with mentoring offered at each one.

“With a substantial prize fund of Rs 6.85 crore and an emphasis on identifying startups providing creative cybersecurity solutions, the Cyber Security Grand Challenge 2.0 is a significant government-backed initiative,” said S. Krishnan, Secretary, MeitY.

Participants in the Grand Challenge are required to provide solutions centered on six specific issue statement categories.

For cutting-edge solutions in API security, data protection, wearable privacy, clone app mitigation, AI threat detection, and biometric security, registration is currently open until February 14.

“To support India’s digital journey, I hope the winners and participants will drive change and introduce indigenous, cutting-edge security solutions,” he said.

In addition to the three stages—Idea, Minimum Viable Product (MVP), and Final Product step—the challenge now includes a fourth step called “Go-to-Market.”

By qualifying six companies for each issue statement in the Idea Stage, it broadens the reach of recognition. As a consequence, 36 startups are recognized in the early stage, each receiving Rs 5 lakh, and 18 startups get Rs 10 lakh at the Minimum Viable Product stage.

Each of the six problem statements will have a victor at the Final Stage, who will get Rs 25 lakh.

“The Platinum Winner will receive a prize of Rs 1 crore following the Go-to-Market Stage, which is the Grand Challenge’s final stage, while the Gold Winner and Silver Winner will receive Rs 50 lakh and Rs 25 lakh, respectively,” the ministry said.