MSME idea hackathon portal open for registration till March 24

New Delhi, Mar 10 (KNN) The MSME Ministry today announced the launch of an MSME Idea Hackathon to invite ideas from MSMEs, innovators and students through host institutes from March 10 to March 24, 2022.

The MSME Ministry today launched the MSME Innovative Scheme with the combination of existing sub-schemes around incubation, design, and intellectual property rights (IPR) for MSMEs. MSME Idea Hackathon is a part of this theme.

The online portal was inaugurated by MSME Minister Narayan Rane at Vigyan Bhawan, New Delhi. The online portal recorded around 650 incubation registration in just 16 minutes after the launch. The data was shared during the event.

The incubation part under the scheme would promote the adoption of the latest technologies among MSMEs that seek validation of their ideas at the proof-of-concept level. 

The ideas would be incubated at ‘eligible institutions’ recognised by the government to act as business incubators. The scheme would also have a provision of providing financial assistance of up to Rs 15 lakh per idea to these host institutes apart from up to Rs 1 crore support for procuring plant and machinery for MSMEs.

Institutions such as technical colleges, universities, other professional colleges/institutes, R&D institutes, NGOs involved in incubation activities, MSME-DIs/ technology centers or any institute of Central/State Government may apply for registration as an Host Institutes (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. 

All earlier approved Host Institutes (HIs) will be continued as HI for scheme implementation.

The institutions may apply for registration as HI through the MIS portal of the DC MSME website. (innovative.msme.gov.in).  (KNN Bureau)