Kerala seeks business ideas, winners to get lucrative cash prizes and incentives

Thiruvananthapuram, Nov 24 (IANS): The Kerala authorities on Thursday declared an impressive notion contest “Dreamvestor” carrying Rs 5 lakh as first prize, for potential business people and enterprise aspirants to present their tips ahead of an eminent panel and discover the probability of changing their concepts into organization ventures.

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Condition Industries Minister P. Rajeev, when officially launching the contest, explained the selected strategies would be offered required handholding guidance these as access to incubation area in govt-owned Organization Incubation Centres, mentoring aid to conquer the problems, accessibility to seed funds aid, and market linkages.

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“The point out govt has declared 2022-23 as the ‘Year of Entrepreneurship’. As element of the entrepreneurship development initiatives, the Office of Industries & Commerce, is holding the contest,” he explained.

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The minister stated the governing administration has been formulating policies to boost entrepreneurship amid the youth to arrest ‘brain drain’ which jeopardised the sustainability of the economic system in the prolonged operate, aside from resulting in social imbalances.

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Future innovators from a variety of sectors in the condition will get prospect to post their thoughts together with advertising options from November 24 onwards via the formal website for the contest –Awww.dreamvestor.in.

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The tips/concepts submitted by way of the web-site will be evaluated by a panel of judges and selected 100 tips/ideas will be presented the alternative to elaborate their suggestions in the quarter-finals.

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Picked 50 tips/ideas will be viewed as in the semi-finals and finest 20 concepts/ideas will be picked for finals.

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People in the age team of 18-35 many years can apply.

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One contestant can submit only one company plan/thought.

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In the initially spherical, the concepts submitted will be shortlisted, Afollowed by the announcement of 100 contestants to subsequent spherical on January 18, 2023.

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Spherical 2 will witness submission of two-minute pitch elevator video clips and announcement of 50 contestants to next spherical on February 8.

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In Round 3, there will be acceptance of marketing and advertising program facts and the names of 20 finalists will be announced on February 20.

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In Spherical 4, the final celebration of the contest will be held in offline mode in Thiruvananthapuram on March 1.

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The winner of the initially prize will get Rs 5 lakh although those adjudged for the second and the 3rd prizes will be offered Rs 3 lakh and Rs 2 lakh, respectively. The winners of the 4th to 10th spot will get Rs 1 lakh each individual whilst individuals in the 11th to 20th location will be awarded Rs 25,000 just about every. In addition, certificates and mementos will be introduced to all 20 finalists.

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“The Division of Industries & Commerce aims to create a robust entrepreneurship ecosystem to assistance and encourage potential business owners in the state. An enabling ecosystem encompassing physical infrastructure, technological know-how tie-ups, mentoring, handholding, and market place linkages will assist the younger technology established up thriving enterprises, leverage the rising world-wide prospects, even though currently being rooted in Kerala,” additional Rajeev.

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As element of the entrepreneurship enhancement initiative, the state govt proposes to deliver handholding aid to small business aspirants and targets to set up one lakh new enterprises in Kerala. Roughly, Rs 1,000 crore of expense and 45,000 employment options are envisioned through this novel initiative.

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Maria Flores

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