MSME Incubation
(Support for Entrepreneurial and Managerial Development of MSMEs through Incubator)
Objective: The objective of the scheme is to promote and support untapped creativity and to promote adoption of latest technologies in MSMEs that seek the validation of their ideas at the proof-of-concept level. The scheme also supports engagement with enablers who will advise such MSMEs in expanding the business by supporting them in design, strategy and execution.
Financial Assistance: Up to maximum of Rs. 15 lakh per Idea shall be provided for developing and nurturing of the Ideas. Click here for more details
Proposal are invited under the Incubation Scheme, MSME GoI
Last Date to apply in MSME Idea Hackathon 2022 and get benefit of the scheme is 24/March/2022
All students, faculty and staff members are hereby informed that under the new guidelines of the MSME Incubation scheme, new and innovative Ideas are invited to get support of maximum 15 Lakhs per Idea. These Ideas will be shortlisted by the joint committee.
So, incubatees are invited with their ideas under the incubation scheme. Incubatees are requested to provide the product/service documentation on the following points-
Description of the problem you are solving
Explain the proposed solution
Describe the product/ service
Identify the sector to which the product/ service relates to
Unique/innovative/ competitive aspects of the product/ service
Market target customers positioning of the product
Business plan from seeding, development to commercialization
Background of the person who all are part of the team working on the project
Please explain the detailed economics, funding requirement expenses income plan over the next five years after start
Mandates for Ideas
All ideas should contain, inter-alia, following basic types of Innovation Processes:
❖ Marketing & Branding: Innovation related to the customer experience.
❖ Ideation: Innovation related to the product idea & concept.
❖ Technology: Innovation related to the product functionality.
❖ Co-creation: Innovation related to the customer involvement.
❖ Social Innovation: Innovation related to the corporate culture.
❖ Entrepreneurship: Innovation related to through entrepreneurial thinking.
❖ Open Innovation: Innovation related to with stakeholders.
❖ Business Model Innovation: Innovation related to the purpose and strategy
Proposal/ Ideas may classified in following sectors
Agriculture, Rivers & Ocean Produce based industries: fertilizers, agricultural implements & Agro Processing and any related sub-sectors.
Healthcare and Life sciences: Medical Devices, Pharmaceuticals, Bio-Tech, Ayush and any related sub-sectors.
Power, Renewable, Electricals, Power Electronics, Energy Efficiency, and any related sub-sectors.
Services: Education, Hospitality, Media, Publishing, Entertainment, Design, Wellness, Logistics, Sports, and any related sub-sectors.
Miscellaneous Sector: Environment, Forest, Water & Sanitation, Foods, Beverages, FMCG, Consumer Goods, Infrastructure, Construction, Housing, IT, ITES, Electronics, White Goods, Telecommunication, Metals, Engineering, Machinery, Automation and Transportation, Automotive, E-Vehicles, Railways, Aviation, UAV, and any related sub-sectors
Who can Join…?
a. Any innovator- having e-mail and mobile number.
b. MSME- having Udyam Registration number
who have innovative idea can join MSME Idea Hackathon 2022.
Why Join MSME Idea Hackathon 2022…?
The winners will receive seed funding of up to ₹15 lakh and incubation support under the Ministry’s Incubation scheme.
Participation Process
Step 1: Register yourself by the given link-
https://my.msme.gov.in/inc/JoinMsmehackthon.aspx
Step 2: Select the SATI as the Host Institute
Evaluation Process
The ideas shared by the applicants/ incubatees’ will undergo following stages of rigorous evaluation-
First at Host Institute level
Second at MoMSME level
Final selection by PMAC MoMSME