The Need For MSME Idea Hackathon 2.0

The Need For MSME Idea Hackathon 2.0

What Is MSME Idea Hackathon 2.0?

Following the vision of the Honorable Prime Minister, “Atmanirbhar Bharat,” entrepreneurs are the foundation of the social change that India seeks, and their efforts will lay the groundwork for a New India, fill the gaps in the solutions needed by the people, and provide the foundation for constructing the economic structure of a strong India.

The objective of the Ministry of Micro, Small, and Medium Enterprises is to enable MSMEs and citizens of India to put on their thinking caps and create innovative solutions while searching for local solutions to local problems, which could be the generational leap India needs to transform its social, cultural, and economic ecosystem into a global leader.

The Ministry of Micro, Small, & Medium  Enterprises has (re) launched the MSME Idea Hackathon 2.0 to achieve the goal of Atmanirbhar Bharat. This is to bring forth and motivate talented entrepreneurs, students, & design experts to showcase their talent, and then develop it further, and finally, convert it into a final product. 

Why Was It Introduced?

Students, innovators, and MSMEs from all over India are invited to submit theme-based ideas for “MSME Idea Hackathon 2.0” under the scheme of the Office of Development Commissioner – Incubation Component of MSME Innovative Scheme under the MSME Champions Scheme.

For this, the authorities of the MSME Idea Hackathon 2.0 are supposed to allocate up to Rs. 15 lakhs of financial aid for prototype development, provided they are impressed with the idea and think that it is innovative. Further, this is an excellent opportunity for both design experts and entrepreneurs to come together and start their unique start-ups.  

Who can Apply for MSME Idea Hackathon 2.0?

This scheme provides the opportunity to several different fields like Digital Agriculture, Organic composting, Low-cost Indigenous Digital Healthcare Systems, Potable Water Solutions, E-Festival, E-vehicles, AVGC (Animation, Visual, Gaming & Comics), Cloud Computing, Supply Chain Management Solutions, Eco-friendly & Sustainable furniture, Safety in Transportation & Industry, Disaster Management, Alternative Material for Single Use Plastic (SUP), Sustainable fashion, Waste to Wealth Creation, Circular solutions & waste management.

The Office of DC-MSME will assist Host Institutions (HI) that have been approved for the programme. Through their respective Host Institutes, the selected ideas will receive up to Rs. 15 lakhs per approved idea for nurturing and developing the idea. Moreover, you can also receive Rs. 1 crore for relevant machinery and plant set up. 

To avail and apply for the MSME Idea Hackathon there are 3 major requirements 

  • Any candidate who has an innovative idea can apply
  • Applicants should be an Indian
  • Applicant must have udyam registration number
The Need For MSME Idea Hackathon 2.0 1

Why we need MSME Idea Hackathon 2.0

This is the need of the hour for the upliftment of Indian Entrepreneurs and Students, which will not only motivate them but also assists the government in achieving their goal of an Atmanirbhar Bharat. We at Egniol not only provide you with consultation, but are available to assist you in every step of the way. 

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