Start-up Looking For Funding? Winning This Contest Could Get You Upto Rs 15 Lakh

Start-up Looking For Funding? Winning This Contest Could Get You Upto Rs 15 Lakh

An applicant can apply for one idea only and can submit only one project.

Calling all startups, technocrats, students, and Micro, Small and Medium Enterprises (MSMEs). The Ministry of MSMEs has invited applications from all categories mentioned above under the scheme of the Office of Development Commissioner – MSME through Incubators for the contest — ‘Support for Entrepreneurial and Managerial Development of MSMEs through Incubators’.

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Referred to as the New India Challenge 2020, the contest will provide funding support of up to Rs 15 lakh per approved idea through the business incubators chosen by them. The MSME office of development commissioner will support the incubators or host institutions that have been approved for the contest programme.

Intrigued? Here are the details –

Important dates: The complete application must be submitted on the official website by or before 20 February 2020. The selection and announcement of the results will be done between 22-29 February.

Who can participate?

• This contest is open to all MSMEs, start-ups, companies, students/developers/professionals/community members across India.
• The participants must be at least 18 years of age.
• Students in their third and fourth year of undergraduate, graduate, postgraduates of professional courses and researchers are invited to apply.
• Participants need to submit documentary proof of their status – students, start-ups, MSME’s. These include original documents and registration certificates.
• An applicant can apply for one idea only and can submit only one project.

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How to apply?

Government Schemes

• Log in to the official My Government website
• Click on #IdeasForNewIndiaChallenge2020
• Now click on Participate Now
• If you login id then apply immediately, else register as a new user
• Once you log in, you will then be directed to a page where you will have to fill in your personal details, which include name, age, e-mail id, current occupation etc.
• The next page will ask for details of your idea. Details such as the uniqueness of your idea, affordability of the product, strategy for execution will need to be entered here.
• The final page requires information about the Business Plan, time frame needed to execute the plan, support and investment needed are some of the questions you need to answer here.

If you or anyone you know would benefit from participating in this contest, do share this with them.


Also Read: Need Financial Aid For Higher Education? 4 Govt Schemes You Should Know


(Edited by Saiqua Sultan)

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