Skill development awards

NEW DELHI : Aiming to catalyse a cultural shift in youth towards self-employment and entrepreneurship, the ministry of skill development and entrepreneurship (MSDE) has instituted the National Entrepreneurship Awards 2018 (NEA). The awards will recognise and honour firstgeneration entrepreneurs and organisations/ individuals supporting the entrepreneurs in their journey. These awards are designed with a purpose of highlighting models of excellence for others to emulate and improve upon. In its third year, a total of 43 awards will be presented, including 39 Awards for Young Entrepreneurs in different sectors and 4 Awards for Entrepreneurship Ecosystem Builders. The Award categories include a wide variety of entrepreneurship, covering small to big entrepreneurs, by categorising them into three investment categories:

• Initial investment up to Rs.1 lakh

• Initial investment above Rs.1 lakh to Rs.10 lakhs

• Initial investment above Rs. 10 lakhs to Rs.1 crore

To be eligible for these awards, the nominee must be under the age of 40 years; s/he 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 difficult areas. Women entrants must individually/collectively own 75% or more of the enterprise.

Candidates are being nominated for the award will undergo a three-level rigorous evaluation process, wherein, at the last step, a national jury of eminent personalities drawn from academia/research, industry, social sector and banking among others will select the winners.

The winners will be felicitated in an award ceremony organised by the ministry of skill development and entrepreneurship and will receive an award money of Rs. 5 lakhs to Rs.10 lakhs.

For more information on the nomination and categories, please visit - http:// www.neas.gov.in/