Report Wire - Kerala seeks enterprise concepts, winners to get profitable money prizes and incentives

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Kerala seeks enterprise concepts, winners to get profitable money prizes and incentives

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Thiruvananthapuram, Nov 24: The Kerala authorities on Thursday introduced an modern thought contest Dreamvestor carrying Rs 5 lakh as first prize, for potential entrepreneurs and enterprise aspirants to current their concepts earlier than an eminent panel and discover the opportunity of changing their ideas into enterprise ventures.

State Industries Minister P. Rajeev, whereas formally launching the competition, mentioned the chosen concepts could be offered needed handholding help corresponding to entry to incubation house in government-owned Business Incubation Centres, mentoring help to beat the challenges, entry to seed capital help, and market linkages.

“The state government has declared 2022-23 as the ‘Year of Entrepreneurship’. As part of the entrepreneurship development initiatives, the Department of Industries iamp; Commerce, is holding the contest,” he mentioned.

The minister mentioned the federal government has been formulating insurance policies to advertise entrepreneurship among the many youth to arrest ‘mind drain’ which jeopardised the sustainability of the economic system in the long term, apart from inflicting social imbalances.

Prospective innovators from numerous sectors within the state will get alternative to submit their concepts together with advertising and marketing plans from November 24 onwards by means of the official web site for the competition –

The concepts/ideas submitted by means of the web site will probably be evaluated by a panel of judges and chosen 100 concepts/ideas will probably be given the choice to elaborate their concepts within the quarter-finals.

Selected 50 concepts/ideas will probably be thought of within the semi-finals and finest 20 concepts/ideas will probably be chosen for finals.

Those within the age group of 18-35 years can apply.

One contestant can submit just one enterprise thought/idea.

In the primary spherical, the concepts submitted will probably be shortlisted, Afollowed by the announcement of 100 contestants to subsequent spherical on January 18, 2023.

Round 2 will witness submission of two-minute pitch elevator movies and announcement of fifty contestants to subsequent spherical on February 8.

In Round 3, there will probably be acceptance of promoting plan particulars and the names of 20 finalists will probably be introduced on February 20.

In Round 4, the ultimate occasion of the competition will probably be held in offline mode in Thiruvananthapuram on March 1.

The winner of the primary prize will get Rs 5 lakh whereas these adjudged for the second and the third prizes will probably be given Rs 3 lakh and Rs 2 lakh, respectively. The winners of the 4th to tenth place will get Rs 1 lakh every whereas these within the eleventh to twentieth place will probably be awarded Rs 25,000 every. In addition, certificates and mementos will probably be offered to all 20 finalists.

“The Department of Industries iamp; Commerce aims to create a robust entrepreneurship ecosystem to support and promote prospective entrepreneurs in the state. An enabling ecosystem encompassing physical infrastructure, technology tie-ups, mentoring, handholding, and market linkages will help the young generation set up successful enterprises, leverage the emerging global opportunities, while being rooted in Kerala,” added Rajeev.

As a part of the entrepreneurship growth initiative, the state authorities proposes to offer handholding help to enterprise aspirants and targets to ascertain one lakh new enterprises in Kerala. Approximately, Rs 1,000 crore of funding and 45,000 employment alternatives are anticipated by means of this novel initiative.

Kerala seeks enterprise concepts, winners to get profitable money prizes and incentives IANS 24 November 2022 Post Your Comments

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