The Ministry of Skill Development and Entrepreneurship (MSDE) will host third edition of the National Entrepreneurship Awards (NEA) on January 4, 2019 at Dr. Ambedkar International Centre, Janpath, New Delhi. The awards aim to recognise and honour the outstanding young first-generation entrepreneurs and those who have contributed immensely in building the entrepreneurship ecosystem. The ceremony is expected to be chaired by Dharmendra Pradhan, Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship and Anantkumar Hegde, Minister of State for Skill Development & Entrepreneurship. Suresh Prabhu, Minister of Commerce & Industry and Civil Aviation will be the chief guest at the award ceremony, Ministry of Skill Development and Entrepreneurship (MSDE) has said in a press statement today.
According to the statement, this year, a total of 43 awards will be presented, including 39 awards for young entrepreneurs in different sectors and four awards for entrepreneurship ecosystem builders. The winners will receive a trophy, certificate and cash prizes ranging from Rs. five to 10 lakhs. The awards are classified into three investment categories – below Rs one lakh, between Rs one lakh to 10 lakhs and between Rs 10 lakh to Rs one crore; covering small to big first-generation entrepreneurs below the age of 40 years. This is to ensure that entrepreneurs from every socio-economic category take part in the award and they are duly recognised for their meaningful contribution to the economy of the nation.
MSDE has partnered with premier institutes and organisations such as XLRI, Jamshedpur; IIT Bombay; IIT Delhi; IIT Guwahati; IIT Kanpur; and IIT Madras. Other national level organisations are Tata Institute of Social Sciences, Mumbai; National Institute of Agricultural Extension Management, Hyderabad; Institute of Rural Management, Anand; Rural Self Employment Training Institute, Bangalore; National Bank for Agriculture and Rural Development, Mumbai and National Innovation Foundation, Ahmedabad to ensure due diligence in the nomination and evaluation process.
The award nominations have been subjected to rigorous three-level assessment methodology backed by detailed study of the nominated companies, based on actual market parameters and performance indicators. Finally, a jury panel represented by eminent thought leaders and industry experts has collectively assessed the results of these evaluations to select outstanding awardees.
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 percent or more equity and ownership of the business. There are special awards for women, persons with disability, scheduled caste/ tribes and entrepreneurs from areas with limited opportunities. The women entrants must individually/collectively own 75 percent or more of the enterprise.
The National Entrepreneurship Awards is a platform focused on driving innovation, ushering in a positive change for youth in entrepreneurship across all the industries.