National Entrepreneurship Awards 2018 invite nominations for India’s most promising entrepreneurs

NEW DELHI: Aiming to catalyse a cultural shift in youth towards self-employment and entrepreneurship, the Ministry of Skill Development and Entrepreneurship (MSDE) has instituted the National Entrepreneurship Awards 2018 (NEA). The awards will recognise first-generation entrepreneurs and organisations or individuals supporting the entrepreneurs in their journey.

In its third year, a total of 43 awards will be presented, including 39 Awards for Young Entrepreneurs in different sectors and 4 Awards for Entrepreneurship Ecosystem Builders. The Award categories include a wide variety of entrepreneurship, covering small to big entrepreneurs, by categorising them into three investment categories:

· Initial investment up to Rs.1 L

· Initial investment above Rs.1 L to Rs.10 L
· Initial investment above Rs. 10 L to Rs.1 Cr

To be eligible for these awards, the nominee must be under the age of 40 years; he/she must be a first-generation entrepreneur and must hold 51% or more equity and ownership of the business. There are special awards for women, persons with disability, scheduled caste/ tribes and entrepreneurs from difficult areas. Women entrants must individually/collectively own 75% or more of the enterprise.

Candidates nominated for the award will undergo a three-level rigorous evaluation process, wherein, at the last step, the jury drawn from academia/research, industry, social sector and banking sectors will select the winners.

The winners will be felicitated in an award ceremony organised by the Ministry of Skill Development & Entrepreneurship and will receive an award money of Rs. 5 lakhs to Rs.10 lakhs.