The Ministry of Skill Development and Entrepreneurship (MSDE) hosted third edition of the National Entrepreneurship Awards (NEA) on January 4, 2019 at Dr. Ambedkar International Centre, New Delhi.
A total of 43 awards were presented, including 39awards for Young Entrepreneurs in different sectors and 4awards for Entrepreneurship Ecosystem Builders.
The NEA is a platform focused on driving innovation, ushering in a positive change for youth in entrepreneurship across all the industries, thus differentiating it from other awards programs.
The awards will acknowledge an Entrepreneur and Entity/ Individual Supporting Entrepreneurs exceptional growth, strategies and products, dedicated customer focus, etc. to inspire and promote growth of entrepreneurs in India.
The awards are classified into three investment categories- below Rs 1 Lakh, between Rs 1 Lakh to10 Lakhs and betweenRs10 Lakhs to Rs1 Crore- covering small to big first-generation entrepreneurs.
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.
The winners received a trophy, certificate and cash prizes ranging from Rs. 5 to 10 lakhs.
Nominees 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 areas with limited opportunities:
The women entrants must individually/collectively own 75% or more of the enterprise.
Majority owners must belong to either SC or ST Category and must be aged 40 years or less. People belonging to the SC/ST category must individually/collectively own 75% or more of the enterprise
People with Disability/disabilities must individually/collectively own 51% or more of the enterprise
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 ensure excellence of the National Award, the Jury has the power to not award any applicant in a given category, if applications are found unsatisfactory.
MSDE has partnered with premier institutes and organizations such as XLRI, Jamshedpur; IIT Bombay, Mumbai; IIT Delhi, Delhi; IIT Guwahati, Assam; IIT Kanpur, Kanpur; and IIT Madras, Chennai and others to ensure due diligence in the nomination and evaluation process.
Ministry of Skill Development and Entrepreneurship (MSDE):
MSDE was formed in November, 2014 by the Government of India to focus on enhancing employability by bridging the gap between demand and supply of skilled workforce through skill development and expansion of youth entrepreneurship education and capacity.
To stay relevant in ever-changing skill market, it aims to build the new skills and innovative thinking not only for existing jobs but also for jobs that are to be created.