The Ministry of Skill Development and Entrepreneurship (MSDE) continues to promote the economic progress in micro-entrepreneurship across the country by hosting the National Entrepreneurship Awards (NEA). The annual honours will recognise the efforts of young first generation entrepreneurs and their Ecosystem Builders for their exceptional impact on entrepreneurship advancement.
With NEA, the Government of India will reward and enable the most innovative, inspiring and accomplished micro-entrepreneurs to scale up their businesses. The objective of these awards is to recognise businesses and businessmen, not only to improve their marketability, but also address discontinuity towards better business systems and enhanced products and services with the help of the prize money.
The award ceremony is also important because it values all the hallmarks of an entrepreneurial adventure – a hunger for triumph, inspiration, earnestness, and persistence to do whatever it takes. It therefore becomes imperative to show generous support to these small business owners.
If you know of a micro entrepreneur who you believe has done well in his/ her business and deserves to be acknowledged and appreciated, you can nominate his / her name by registering on www.neas.gov.in . The nominations are open till 16th November 2018. There are 43 specially designed awards to be bestowed – 39 Awards for Young Entrepreneurs and 4 Awards for Entrepreneurship Ecosystem Builders. The eligibility criteria is simple and as follows:
* The nominee must be under the age of 40 years
* He/She must be a first generation entrepreneur
* The nominee (Entrepreneur) must hold more than 51% or more equity and ownership of the business
* Women entrants must individually/collectively own 75% or more of the enterprise
* For more details on the eligibility conditions, click here.
Rewards for the Winners
Winners will be felicitated in a high profile Award Ceremony, organised by the Ministry of Skill Development & Entrepreneurship, and will be presented with Cash Prize, a Trophy and a Certificate. There are enormous cash prizes worth a total of Rs 2.3 Crore divided over categories. The cash prize range for Enterprise/ Individuals is Rs 5 lakh and that for Organisations/ Institutions is Rs 10 lakh.
Summary of Award Categories
There are three categories that the nominations will be based on:
* Entrepreneurs whose seed capital was less than 1 lac
* Entrepreneurs whose seed capital was between 1 lac to 10 lacs
* Entrepreneurs whose seed capital was between 10 lacs to 1 Cr
Here is a detailed plan of the categories you can nominate for
National Entrepreneurship Awards (NEA) is a key initiative of the Ministry of Skill Development & Entrepreneurship, Government of India, and is targeted at raising awareness about the significance of micro-entrepreneurship in supporting the financial inclusion and monetary empowerment of low-income individuals. If you know of a micro entrepreneur or a small/ big time business person, who has been innovative and has made an exceptional mark, this is a golden chance to get his/ her work recognised and valued. Hurry up and fill in the nomination form here.