Applications are invited for the MSME Idea Hackathon 4.0 for young innovators. The application deadline is October 10, 2024.
About Incubation
Objective
The scheme’s objective is to promote and support untapped creativity and the adoption of the latest technologies in MSMEs that seek to validate their ideas at the proof-of-concept level. The scheme also supports engagement with enablers who will advise such MSMEs on expanding their business by helping them with design, strategy, and execution.
Activities
- Recognition of eligible institutions as Host Institute (HI) to act as Business Incubator (BI)
- Approval of Ideas of Incubatees submitted through Host Institute (HI)
- Assistance for nurturing of Ideas to HI
- Assistance towards Capital Support to HI for Plant and Machinery
Eligibility Criteria: Registration as Host Institute (HI)
Institutions such as Technical Colleges, Universities, other Professional Colleges/Institutes, R&D Institutes, NGOs involved in incubation activities, MSME-DIs/ Technology Centres or any Institute/Organization of Central/State Government may apply for registration as an HI and act as a Business Incubator (BI) for nurturing of ideas from the initial stage of conceptualization to the commercialization stage through HIs/ BIs. The institutions may apply for registration as HI through the MIS portal of the DC MSME website. (innovative.msme.gov.in) . All earlier approved Host Institutes (HIs) will be continued as HI for scheme implementation.
Financial Assistance under the Scheme
- HI shall be given a maximum of Rs. 15 lakh per idea for developing and nurturing the ideas.
- Up to Rs. 1.00 cr. (max) shall be provided to HI for procurement and installation of relevant plants and machines, including hardware and software, etc., in BI for R&D activities and common facilities for BI incubators.
Who can Join?
- Any innovator of Indian origin who has an e-mail and mobile number.
- You can apply under three categories – MSME, Student and Others.
- Under the MSME category, register for the MSME Idea Hackathon using the Udyam Registration number. (To register for Udyam Registration, Click here)
- Under the Student category, a Student Identity Card valid for FY 24-25 must be submitted.
Benefits
The Host Institute shall receive financial assistance up to a maximum of Rs. 15 lakh per approved idea for developing and nurturing the idea into a prototype.
How to Register?
Interested innovators can register themselves through this link.
Deadline
The application deadline is October 10, 2024.
