Jamshedpur: XLRI – Xavier School of Management is pleased to announce to be the Lead Partner with the Ministry of Skill Development and Entrepreneurship, Government of India for the 3rd National Entrepreneurship Awards 2018.
As the Lead Partner of the initiative, XLRI will play a crucial role to mobilize, support and encourage participation in the Awards across the country stated Prof. Vishwa Ballabh, Chairperson, Entrepreneurship Development and Incubation Centre, XLRI.
The National Entrepreneurship Awards 2018, in its 3rd year, aims to recognise the efforts of outstanding young entrepreneurs and honour outstanding young first generation entrepreneurs and their Ecosystem Builders for their outstanding contribution in entrepreneurship development.
A total of 43 awards under NEA 2018 will be given to young entrepreneurs below age of 40 years and institutions contributing to building ecosystem of entrepreneurship in the country. The total award money is Rs.2.3 Crores. The Awards also aim to create an encouraging environment for entrepreneurship in India.
In addition, this year Award for entrepreneurs is divided into three categories (i) those initiated their enterprises with less than Rs.1 lakh of initial investment; (ii) those with initial began their entrepreneurial journey with investment between Rs.1 to Rs.10 lakh initial investment; and (iii) those with the initial investment between Rs.10 lakh to Rs.1 crore. This is done to capture the grassroots entrepreneurs at the bottom of the pyramid.
There are special category awards for entrepreneurs amongst Women, SC/ST, Persons with Disability and Difficult Areas Entrepreneurs. Additionally, there are four Awards especially for the institutes and organisations for the purpose of recognition of exceptional work in the field of entrepreneurships such as educationists, advisors and mentors both from the Private and Government sector institutions.
The Award shall comprise of Rs.Five Lakh for each of the award category for individuals and Rs.Ten Lakh for institutions/organisations. The winners shall also receive a Trophy and Certificate.
To be eligible to participate in the Awards, the entrepreneurs must be Indian national working in the Indian Territory of age below age of 40 years as on April 1st, 2018 and a ‘First Generation Entrepreneur’ i.e. an entrepreneur who is not in the same line of business as his/her parents and who has started an enterprise on the basis of their own initiative, idea or innovation.
In addition, the participants must individually/collectively own 75% or more of the enterprise while People with Disability/disabilities must individually/collectively own 51% or more of the enterprise. The enterprise must be a young enterprise started within last 6 years, i.e., on or after April 1st 2012.