New Delhi, July 22 (KNN) During the current financial year financial assistance worth Rs 34 crore has been approved under the MSME Idea Hackathon 2022, said Bhanu Pratap Singh Verma, MoS for MSME in a written reply to the Lok Sabha on Thursday.

For a grant financial assistance 257 ideas under MSME Idea Hackathon 2022, reimbursement of 1,196 trademarks, 186 patents, 53 design and 11 Geographical Indication (GI) have been approved.

The scheme was launched on March 10, 2022 by the Ministry of Micro, Small and Medium Enterprises (MSME) with an aim to help entrepreneurs in developing new ventures, while supporting the untapped creativity of the sector.

Several initiatives have been taken by the MSME Ministry for providing an impetus to promote creativity, innovation and entrepreneurship, said the Minister.

These inter-alia include Entrepreneurship and Skill Development Programme (ESDP), MSME Champions Scheme and Prime Minister’s Employment Generation Programme (PMEGP) to motivate youth representing different sections of the society.  (KNN Bureau)