Mangalore, Oct 8 (KNN) City based PA College of Engineering has received a financial support of about Rs. 4 crore from the government. The government has also approved various schemes under their respective start-up and other programmes for the next three years.

Under a scheme for Micro, Small, and Medium Enterprises (MSME) of the Union Government,  the business incubator center is being set up in the college.

The scheme provides funds up to Rs. 8 lakh annually till three years to 10 innovators for select ideas.

Thus, for 10 innovators together the scheme would provide a maximum of Rs. 2.40 crore for three years.

Thus, for 10 innovators together the scheme would provide a maximum of Rs. 2.40 crore for three years.

Two incubation centers will be set up by the college using the fund. The centers would help start-ups in capacity building and provide training.

It is for developing and nurturing their ideas for the production of novel products that can be sent to the market for commercialization.

Students are encouraged to identify local problems under the NAIN scheme and address them using concepts of frugal innovations, and to develop technology-based solutions and working prototypes.

There are mentors assigned to every student at the incubation center. They will help the student to formulate a business model based on the new technology.

For students,  Incubation Centre would conduct district-level events like ideathons, hackathons, and entrepreneurship boot camps

Each selected innovative idea would be supported with a maximum fund of Rs. 3 lakh annually for three years. Thus 10 persons together would get a maximum of Rs. 1.20 crore.