MSME Idea Hackathon 2023 Apply Online & Registration Form | Benefits & Features | MSME Idea Hackathon Check Hackathon Amount & Last Date | MSME Idea Hackathon Registration & Login Portal | Check Beneficiary Category & All Details |
For creating entrepreneurial skills among youngsters, MSME Idea Hackathon has been launched by the Ministry of Micro Small Medium Enterprises. The last date to apply online under this hackathon is 10th March 2022. Students will be given opportunities to bring innovative ideas to the job creators. This will bring the policies of Atmanirbhar Bharat.
Through this article you will get all the information regarding the MSME Idea Hackathon 2023 such as objectives, eligibility criteria, benefits, features and important documents, etc. beside with that, we will bring up to date with the step-by-step application procedure for applying online under this hackathon.
MSME Idea Hackathon 2023
Financial assistance of Rs. 15,00,000/- to Rs. 1,00,00,000/- will be provided to the entrepreneurs in the form of loan amounts under the MSME Idea Hackathon so that the entrepreneurs will be able to carry out their own businesses after starting their own business. For this, the beneficiaries will need to bring their innovative ideas on job creation.
Now Indian citizens can apply online under the MSME Idea Hackathon for receiving loan amounts of Rs. 15 lakhs to 1 crore. The last date for online form submission will be 10th March 2022. Applicants will be encouraged for nurturing the ideas of business set-up. The main aim is to settle up new and creative business ideas among youngsters.
Highlights of MSME Idea Hackathon 2023
The highlights of this hackathon are as follows:-
| Name Of The Hackathon | MSME Idea Hackathon |
| Launched By | Ministry of Micro Small Medium Enterprises |
| Delegated Ministry | Ministry of Electronics & Information Technology |
| Allocated Portal | MSME Portal |
| Objective | To provide loan grants for new start-ups |
| Benefit | Entrepreneurs will be able to develop their ideas |
| Applicable To | Citizens of India |
| Delegated Ministry | Ministry of Micro Small Medium Enterprises |
| Delegated Bodies | Host Institute and Business Incubator |
| No. of Delegated Bodies | 2 |
| Beneficiaries | Entrepreneurs |
| Mode Of Transfer | DBT (Direct Benefit Transfer) |
| Payment Mechanism | e-payment mechanism |
| Form of Benefit | Loan amount |
| Scholarship Transferral | One Time Payment |
| Amount of benefit | Rs. 15,00,000/- to Rs. 1 Crores |
| Hosting Site | National Information Center (NIC) |
| Mode Of Application | Online |
| Tenure | 1 Year |
| Last Date of Online Form Submission | 10th March 2022 |
| Mode of application | Online |
| Office Address | Ministry of Micro, Small and Medium Enterprises Udyog Bhawan, Rafi Marg, New Delhi – 110011 |
| Official website | www.msme.gov.in |
Objectives of MSME Idea Hackathon 2023
The primary objective of launching the MSME Idea Hackathon is to develop innovative and creative ideas and plans among youngsters and newly developed entrepreneurs so that they will be able to develop their businesses after receiving the hackathon amount provided to them after getting as eligible beneficiaries. The applicant must be an Indian.
Another objective of launching the MSME Idea Hackathon is to provide loan amounts of Rs. 15,00,000/- to Rs. 1,00,000,00/- so that the applicants and newly developed Entrepreneurs will be able to start up their businesses with the newest and mind-blowing ideas without suffering and lacking the financial funds. The last date for online form submission is 10th March 2022.
MSME Idea Hackathon Statistics
The statistics of this hackathon are as follows:-
| Approved Ideas | 910 |
| Financial Assistance Released | 36 Crores |
Beneficiary Category
This hackathon will only be provided to the applicants or beneficiaries who belong to that beneficiary category which have been set up by the selection body or selection committee. The applicants applying online under this hackathon must ensure that they have built up new and creative ideas and they are also entrepreneurs.
Hackathon Amount
The hackathon amount will only be provided to those candidates or applicants who have been considered eligible for receiving this amount. Variable financial amounts or assistance will be provided to the beneficiary who has been considered eligible. Hackathon amount from Rs. 15 lakhs to 1 crore will be provided to the entrepreneurs.
Last Date To Apply Online
The applicants or newly developed Entrepreneurs will need to apply online under the MSME Idea Hackathon before the last date of online form submission for getting timely registration. This will redress the issues of server hanging issues. The last date for online form submission is 10th March 2022. On-time registration will get provided to the students.
Idea Criteria
The following criteria must be used at the time of inventing ideas for the business start-up:-
| Idea | Criteria |
| 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 |
4 Stage Selection Procedure
The ideas of the beneficiaries will be selected after carrying out 4 stage selection process:-
- 1st Stage: Evaluation by the HostInstitutes
- 2nd Stage: Evaluation by MoMSME
- 3rd Stage: Selection of Ideas by DESC
- 4th Stage: Final Selection by Project Monitoring & Advisory Committee
Delegated Bodies
The lists of delegated bodies are as follows:-
- Host Institute
- Business Incubator
Empanelled Training Institutes
The lists of empanelled training institutes are as follows:-
| Technology Centres (earlier known as Tool Rooms/Technology Development Centres) | Central Tool Room & Training Centre, (CTTC), Bhubaneswar | Indo Danish Tool Room, (IDTR), Jamshedpur | Central Tool Room & Training Centre, (CTTC), Kolkata |
| Tool Room & Training Centre (TRTC), Guwahati | Indo German Tool Room, (IGTR), Aurangabad | Indo German Tool Room, (IGTR), Indore | Indo German Tool Room, (IGTR), Ahmedabad |
| Central Institute of Hand Tools (CIHT), Jalandhar | Central Institute of Tool Design (CITD), Hyderabad | Institute for Design of Electrical Measuring Instruments (IDEMI), Mumbai | Electronics Service & Training Centre (ESTC), Ramnagar |
| Process and Product Development Centre (PPDC), Agra | Fragrance & Flavour Development Centre (FFDC), Kannauj | Centre for the Development of Glass Industry (CDGI), Firozabad | Central Footwear Training Institute (CFTI) Agra |
| Central Footwear Training Institute (CFTI) Chennai | Process cum Product Development Centre (PPDC), Meerut | Central Tool Room (CTR), Ludhiana | National Institute for Micro, Small and Medium Enterprises (ni-msme) |
Benefits of MSME Idea Hackathon 2023
The benefits of this hackathon are as follows:-
- Entrepreneurs with medium, small and micro ideas will be able to secure their financial amounts under the MSME Idea Hackathon.
- The applicants or beneficiaries will be given financial assistance of Rs. 15 lakhs to 1 crore.
- Businessmen or businesswomen will be able to generate and create innovative ideas.
- This will enlarge and expand the values of Atmanirbhar Bharat.
- A new venture will get generated and created.
- This will make them financially independent.
- There are various idea criteria that have been provided to the beneficiary for inventing enterprises.
- The applicants can use their money for the machinery set-up.
- One can apply online under the MSME Idea Hackathon by 10th March 2022.
- Students can fetch more information regarding this hackathon after visiting the official website.
Features of MSME Idea Hackathon 2023
The features of this hackathon are as follows:-
- MSME Idea Hackathon has been launched by the Ministry of Micro Small Medium Enterprises.
- Hackathon amount of Rs. ranging from 15 lakhs to 1 crore will be provided to the beneficiary considered eligible.
- This amount will be provided to the entrepreneur in the form of a loan amount.
- The amounts provided to the beneficiary can be used by the applicant for setting up the business or venture.
- Entrepreneurs can work on the 11 included fields for creating innovative ideas.
- The ideas of the beneficiaries will be selected after carrying out 4 stage selection process.
- This hackathon has been created for the generation of newly developed as well as creative ideas and skills among newly developed businesswomen and businessmen.
- Both Host Institute and Business Incubator will be delegated the task of nurturing business ideas.
- The last date to apply online under the MSME Idea Hackathon is 10th March 2022.
- For getting more information, one can visit the official website.
Eligibility Criteria
For applying online under this hackathon, the applicant must possess the following criteria mentioned below:-
- The applicant must be an Indian.
- The applicant or beneficiary must be an entrepreneur.
Important Documents
Some of the important documents required to apply online under this hackathon as per given below:-
- Aadhar Card
- DOB Certificate
- Residential Certificate
- Latest Passport Size Photograph
- Bank Account Details
- Photo Id Proof
- Working Email ID
- Active Mobile Number
Process To Apply Online Under MSME Idea Hackathon
The applicants will need to follow the mentioned below steps for getting online registration:-
- Visit the Official Website.
- Now you’ll get land on the homepage.
- Click on the New HI/BI’s Registration.
- Fill in the asked details such as:-
- Institute NameName of the Dean / Principal / Head of the InstituteAddress of InstitutionSelect Category of the Host InstituteStateDistrictPin CodeMobile NumberTel No. with STD codeEmail IdUser IDPasswordConfirm Password
- Verification Code
- Now click on the Submit button.
- In this way, you will get registration to the portal.
To Do Login
The applicants will need to follow the mentioned below steps to do login to the portal:-
- Visit the official website first.
- On the homepage, click on Login (HI).
- The login form will get displayed on your screen.
- Fill in the asked details such as:-
- User ID
- Password
- Verification Code
- Now click on the Login Me button.
Contact Information
In case if you have any doubts and questions coming to your mind regarding the MSME Idea Hackathon, then you can contact the mentioned below office address:-
- Office Address:-
- Ministry of Micro, Small and Medium Enterprises Udyog Bhawan,
- Rafi Marg,
- New Delhi – 11001