A global incubator and venture fund, 1776, has partnered with Headstart Network, an organisation dedicated to foster entrepreneurial ecosystem in India, to host the Mumbai leg of Challenge Cup.\r\n\r\nThe aim of the Challenge Cup is to discover the most promising and highly scalable startups that are poised to solve major challenges in the fields of education, energy, food, health, money, security and transportation.\r\n\r\nThe competition will move through 3 phases. The first phase will include startups competing for local finals in around 45 cities. After which, the selected startups will compete for the regional finals which will be held in nine regions. The regional finalists will compete for the final round in Washington D.C.\r\n\r\nThe local event for the startups in India will be held at Mumbai on November 21, 2015 for which the startups can register till October 31, 2015.\r\nWhat Will Startups Gain?\r\n\r\n\tAn opportunity to meet investors, customers, media and other stakeholders.\r\n\tAn opportunity to connect with 1776 senior team for feedback and advisory on their business, distribution and path forward\r\n\tA chance to \u00a0leverage higher outreach to succeed through competition articles, startup interviews and coverage from media partners\r\n\tOpportunity to attend industry roundtables, connecting startups with local industry leaders and 1776 partners\r\n\tAn opportunity for Regional Finalists to get mentored from entrepreneurial leaders.\r\n\r\nHow it Works:\r\nA total of 20 startups will be chosen for each local competition final for which the organiser has chosen 45 cities across the globe to host Challenge Cup Local competitions. There will be 3 winner per local competition which gives a total of 135 winners.\r\n\r\n135 local winners will compete for the regional finals, wherein 45 startups will be shortlisted to compete for the global final to be held at Washington DC.\r\nChallenge Cup Matrix\r\n\r\nSelection Criteria\r\nStartups will be judged based on the following dimensions and potential for venture-scale returns:\r\n\r\n\tSize of market opportunity\r\n\tProduct solves a problem for a particular target customer.\r\n\tStrong distribution plan within regulated industry\r\n\tTraction\r\n\tCapital efficient business\r\n\tClear revenue model\r\n\tTakes advantage of market opportunity or compelling event that changes industry dynamics.\r\n\tSmall but cross functional team\r\n\r\nEvery year, 1776 hosts a worldwide tournament called the Challenge Cup along with its Startup Federation partners, Revolution, the Global Entrepreneurship Network (GEN) and over 50 incubator hosts around the world.\r\n\r\nWhile Headstart Network Foundation is a non profit organisation, dedicated to fostering the entrepreneurial ecosystem in India. Startup Saturday, Headstart Higher, Co-founder Search and Headstart Clubs are some of the popular Headstart initiatives.\r\nInviting Applications\r\nThe startups can apply for the challenge here free of cost. Last date to apply is 31st October 2015.\r\n\r\nGoogle Cloud Platform is the Sponsor and Technology Partner for the 1776 Challenge Cup in Mumbai. The top 3 startups will be given Google credits worth $ 10,000.