Up to 15 projects will be selected through this challenge
Each of the awarded projects will benefit from a grant ranging from INR 20Cr. to INR 80 Cr.
Grant is expected to cover from minimum 50% up to 80% of the project cost, subject to a maximum of INR 80 Cr.
Additional funding amounting to at least 20% shall be secured by the applicant SPV through its own resources.
A dedicated Mentor will be appointed to each awarded CITIIS project for the project duration.
The appointed Mentor will work on a regular basis with the SPV CEOs and their teams to handhold them through the “maturation” and implementation of the awarded projects.
Mentors will also support SPVs to develop tools and initiatives to address the governance issues linked to partnership, public participation and urban innovation.