MSME Idea Hackathon

Ministry for Micro, Small, and Medium Enterprises (MSME) has recently launched the MSME Innovative Scheme (Incubation, Design, and IPR). As part of the incubation scheme, the government also announced the launch of an MSME Idea Hackathon to invite ideas from MSMEs, innovators, and students through host institutes from March 10 to March 24, 2022. through this initiative adoption of advanced technology necessary for manufacturing will be promoted along with enhancement of knowledge-based innovative MSMEs

The objective of the MSME Idea Hackathon

The primary objective of the MSME Idea Hackathon is to provide Support for Entrepreneurial and Managerial Development of MSMEs through Incubators.

Eligibility to Apply for the MSME Idea Hackathon

Ideas in MSME Idea Hackathon 2022 are being invited from Innovators and MSMEs from all over India under the scheme of the MSME Innovative Scheme (Incubation, Design, and IPR). Any person as an individual or MSME, having innovative ideas is eligible to avail the benefits of this scheme. The person should have an innovative sort of idea which can be converted into a prototype and further in business activity. The person is being called Incubatee.

Benefits Offered

The Host Institutions (HI) approved for the scheme will be supported by the Office of DC-MSME. Incubatees’ selected ideas will be provided funding support upto Rs. 15 lakhs per approved idea, through the Host Institutes chosen by them.

Criteria for Ideas

The mandate for Ideas All ideas should contain, inter-alia, following basic types of Innovation Processes:

• Marketing & Branding: Innovation related to the customer experience.
• Ideation: Innovation related to the product idea & concept.
• Technology: Innovation related to product functionality.
• Co-creation: Innovation related to customer involvement.
• Social Innovation: Innovation related to the corporate culture.
• Entrepreneurship: Innovation related to entrepreneurial thinking.
• Open Innovation: Innovation related to stakeholders.
• Business Model Innovation: Innovation related to the purpose and strategy.

Timelines for MSME Idea Hackathon

MSME Idea Hackathon invites ideas from MSMEs, innovators, and students through host institutes from March 10 to March 24, 2022.

Host Institute and Business Incubator

Application Procedure for MSME Idea Hackathon 2022

The procedure to apply for MSME Idea Hackathon 2022 is as follows: After opening the official website of the Ministry of Micro Small Medium Enterprises (MSME), click on the JOIN MSME IDEA HACKATHON 2022 option. The link will redirect to a new page. MSME Idea Hackathon - MSME Homepage After clicking on the Registration button, the Registration window will be displayed, enter all the details. MSME Idea Hackathon - New User Registration If the MSME category is selected, Enter Udyam Registration and Mobile Number and click on Validate Udyam Registration button, all details get filled automatically after successful validation. The applicant has the option to choose the Host Institutes (HI) in their State. In case there is no HI, the applicant may choose an HI of their choice from any other state after clicking on Validate & Generate OTP button, OTP will be sent to the registered email Id & Mobile No. Enter all details and click on Validate & Submit button. After clicking on Validate & Submit button, the registration successful confirmation message window will be displayed, click on the OK button and go to the log-in window. A login window will be displayed. MSME Idea Hackathon - Sign In Provide the Registered Email Id, Password, and verification code, Click on Login me button. With successful login, the Dashboard window will be opened. Users can see all submitted Ideas. MSME Idea Hackathon - Dashboard Click on Apply button, Idea proposal window will be displayed. Enter all details and click on Submit button. MSME Idea Hackathon - Application1 MSME Idea Hackathon - Application2 After clicking on Submit button the confirmation message will be displayed and if the user clicks the OK button then the idea proposal will be submitted also an email is sent on the registered email Id. Users can see all submitted ideas proposals by clicking on the SUBMITTED IDEAS LIST button as shown. After clicking on the more info button all submitted ideas list windows will be displayed: MSME Idea Hackathon - Proposal After clicking on the Detail button, the proposal details window will be displayed Users can also reset passwords by clicking on Forgot Password link. After clicking on the link button Forgot Password window will be displayed. Enter registered email Id and verification code, clicking on Submit button an OTP will be sent on registered email Id After clicking on the button change password window will be displayed. Enter details and click on Submit button. Password will be reset successfully Users can also give their feedback. Enter your name, email id mobile and provide feedback and click on Proceed to Submit button After clicking on Proceed to Submit button an OTP will be sent to your mobile number. Enter valid OTP and click on submit button, your feedback will be submitted successfully This will form the basis of segregating the applications regionally for evaluation and later providing incubation support. The ideas shared by the applicants will undergo two stages of rigorous evaluation at Host Institute & MoMSME level and one stage of final selection by PMAC MoMSME Stage 1: Evaluation by the Host Institutes Ideas will be automatically sent to the HI, selected by the applicant. (MoMSME through its HIs all across the country will shortlist meritorious ideas.) For evaluation, each HI will identify and create a pool of experts from different domains/ areas of expertise, e.g., entrepreneur, technical expert, financial expert, sector expert, etc. From this pool of experts, a panel of a minimum of 3 and a maximum of 5 experts will be selected by the HI to evaluate each idea. After evaluation, each HI will shortlist applicants and will upload the scores & details of shortlisted applicants sector-wise. During the evaluation, HIs shall adhere to the mandate for the ideas decided by the Ministry of MSME. Stage 2: Evaluation by the Ministry of MSME After receiving shortlisted ideas from HI, the PMU will carry out the first stage screening. Only those ideas will be processed which have been received with the relevant and appropriate information, fulfilling all the obligatory conditions as per the scheme guidelines. If the idea uploaded is incomplete/or with incoherent information, the idea will be liable for rejection. This will then be counter-checked by the program division to ensure no eligible idea has been left out. Thereafter the screened ideas will be forwarded to the Domain Expert Selection Committees (DESCs) Stage 3 - Selection of Ideas by Domain Expert Selection Committee (DESC) The ideas received would be segregated into the following five verticals, which will be evaluated by five DESCs. These five Domain Expert Selection Committees (DESCs) will comprise experts from the Industry/Academia/Government. There will be a provision for an honorarium as per GFR for the experts. MSME Idea Hackathon - Selection of Ideas by Domain Expert Selection Committee (DESC) One expert from MSME DI and one member from the program division for coordination will also constitute the DESC. DESCs will select the ideas, from the ideas forwarded to them after the first stage screening. Stage 4: Final Selection by Project Monitoring & Advisory Committee After a detailed evaluation by the DESCs, the recommended ideas would be forwarded to the PMAC for final approval. The approved ideas will be granted financial assistance as per scheme guidelines for further development.

About the Author

RENU SURESH
Renu Suresh is a proficient writer with a knack for turning intricate legal concepts into clear, actionable advice. Her articles empower entrepreneurs by providing the knowledge they need to navigate the complexities of business laws, ensuring they can start and manage their businesses effectively.

Updated on: March 19th, 2022