⁠Msme idea Hackathon 4.0 Registration 2024

⁠Msme idea Hackathon 4.0 Registration 2024 : Apply Online Prior Last Date i.e 26 Sept 2024 on innovative.msme.gov.in

Msme idea Hackathon 4.0 Registration 2024

The MSME Idea Hackathon 4.0 is an innovative platform created to support aspiring innovators’ entrepreneurship and creativity. Participants in this event are invited to share their innovative ideas in hopes of advancing Micro, Small, and Medium-Sized Enterprises (MSMEs) in India. Selected concepts will receive funding and incubation support through this hackathon, promoting an innovative and collaborative atmosphere. A brief overview of key details about the 2024 registration process is provided below.

MSME Idea Hackathon 4.0 – Overview :

Important Information	Details
Event Name	MSME Idea Hackathon 4.0
Registration Last Date	26 September 2024
Eligibility	Innovators of Indian origin, students, and others
Categories	MSME, Student, Others
Funding Amount	Up to ₹15 lakh per approved idea
Incubation Support	Provided under the MSME Innovative Scheme
Contact for Queries	NIC Team: Sh. Kuldeep Chauhan, [email protected]
Evaluation Criteria	Novelty, societal impact, scalability, and more
Official Website	innovative.msme.gov.in

 

Who Can Participate in MSME Idea Hackathon 4.0 ?

Eligibility :

• Open to any innovator of Indian origin with a valid email and mobile number.

Application Categories :

• MSME : Udyam Registration number is required.
• Student : A valid Student Identity Card for FY 24-25 must be provided.
• Others : Includes individuals not categorized above.

Benefits of MSME Hackathon :

• Financial Support: Up to ₹15 lakh for each approved idea to the Host Institute to develop and nurture ideas into prototypes.

About Incubation :

Objective of the Scheme :

• Foster and support innovative ideas.
• Encourage MSMEs to adopt the latest technologies and validate their concepts.
• Collaborate with enablers to support MSMEs in expanding their business, covering design, strategy, and execution.

Activities :

• Recognize eligible institutions as Host Institutes to act as Business Incubators.
• Approve ideas submitted by incubates through these Host Institutes.
• Provide support for nurturing ideas to the Host Institutes.
• Offer financial assistance to Host Institutes for necessary plant and machinery.

Eligibility Criteria for Institutions :

• Technical Colleges
• Universities
• Professional Colleges /Institutes
• Research and Development Institutes
• NGOs engaged in incubation activities
• MSME Development Institutes /Technology Centres
• Any Central or State Government Institute /Organization

Institutions can register as Host Institutes via the MIS portal of the DC MSME website (innovative.msme.gov.in). Previously approved Host Institutes will remain recognized for the implementation of the scheme.

Financial Assistance under the Scheme :

• Up to ₹15 lakh per idea for Host Institutes for development and nurturing.
• A maximum of ₹1 crore for purchasing and installing relevant plants and machinery, including hardware and software for research and shared facilities for incubatees.

Do’s :

• Innovative Value : Ideas must new, original, and beneficial to society.
• Scalability : Choose ideas that can be expanded effectively.
• Cost Reduction: Focus on ideas that lower living costs or enhance processes.
• Quality of Life : Suggest ideas that improve convenience and quality of life.
• Sustainability : Emphasize clean and environmentally friendly energy projects.
• Documentation : Students must provide a valid Student Identity Card for FY 24-25.
• Proof of Age : Submit a government-issued ID (preferably Aadhar) for age verification.

Don’ts :

• Novelty Infringement : Do not present ideas that are not original.
• Scientific Contradictions : Avoid ideas that go against established scientific theories.
• Anonymity : Do not reveal the identity of the incubatee or MSME in the diagrams or notes.
• Evaluation Committee Restrictions : No incubate or mentor can serve on any evaluation committee.
• Reference Restrictions : Do not mention research papers, articles, or specific individuals /firms in diagrams or notes.
• Distinct Roles : The incubatee and mentor must different individuals.

Process Flow of Idea Evaluation :

Stage 1 – Evaluation by Host Institutes (HIs)

• Submission : Ideas submitted by applicants are sent to the relevant Host Institutes.
• Shortlisting : Host Institutes will narrow down the best ideas and forward them to MoMSME.
• Expert Pool Creation : Each Host Institute will form a group of experts from various fields, including entrepreneurship, technical areas, and finance.
• Panel Selection : A panel of 3 to 5 experts will be chosen by the Host Institute to evaluate each idea.
• Submission : Host Institutes will upload shortlisted applications and scores on innovative.msme.gov.in, following Ministry guidelines.

Stage 2 – Evaluation by the Ministry of MSME

• Screening : The PMU will perform an initial screening of the selected ideas.
• Eligibility Check : Only complete and clear ideas that meet all requirements will be considered; incomplete submissions may be rejected.
• Counter-checking : The program division will ensure that no eligible idea is missed before sending them to Domain Expert Selection Committees (DESCs).

3rd Stage  – Selection by Domain Expert Selection Committee (DESC)

• Segregation : Ideas are divided into four categories for evaluation by the respective DESC.
• Expert Composition : DESC will include experts from industry, academia, and the government.
• Evaluation Criteria : Ideas are judged based on criteria set by the Ministry.
• Recommendation Ratio : Ideas are recommended to PMAC based on numbers received, with a cut-off ratio established by the program division.

Stage 4 – Final Selection by Project Monitoring & Advisory Committee (PMAC)

• Approval Process : Recommended ideas from DESC will be presented to PMAC for final approval.
• Financial Assistance : Approved ideas will receive financial support according to the scheme guidelines.
• Discretionary Power : PMAC can reject any idea without explanation.

Mandate for Ideas :

Basic Types of Innovation Processes :

• Marketing & Branding: Enhance customer experiences.
• Ideation: Innovate product ideas and concepts.
• Technology: Innovate to improve product functionality.
• Co-creation: Involve customers in the innovation process.
• Social Innovation: Promote a positive corporate culture.
• Entrepreneurship: Foster entrepreneurial thinking.
• Open Innovation: Work with stakeholders.
• Business Model Innovation: Align with purpose and strategy.

Support for Idea Development :

• Funding : Selected ideas can receive funding up to ₹15 lakh.
• Incubation Support : Access the MSME Innovative Scheme (Incubation Component) to develop ideas into prototypes.

---

Instructions for Host Institutes (HIs) :

Evaluation Process :

• Assess ideas from incubatees after the Hackathon within 15 days (September 11-26).
• Create an evaluation committee with 3 to 5 experts from different fields.
• Include at least one industry member on the committee.
• Ideas from committee members will not be considered.

Submission Guidelines :

• Only recommended ideas should be submitted to the MIS Portal (innovative.msme.gov.in).
• Do not upload non-recommended ideas to maintain credibility.
• Follow the required evaluation format for recording minutes; failure to comply may result in rejection.

Evaluation Criteria :

Ideas should show :

• Novel and innovative value.
• Utility to society.
• Cost savings in living or processes.
• Improvement in quality of life.
• Emphasis on clean and green energy.
• Viability in commercial, technical, and financial aspects.
• Measures for climate change mitigation.
• Status of intellectual property and potential for import substitution.
• Efficiency in energy and resource use.

Exclusion Factors /Avoid Submitting :

• Existing ideas.
• Ideas that involve infringement or plagiarism.
• Ideas that contradict established scientific theories.

---

Instructions for Shortlisting Ideas under MSME Idea Hackathon 4.0 :

1. Initial Evaluation :

• Host institutes (HIs) must assess submitted ideas with experts from various industries.
• Only shortlisted ideas go to the incubation portal (innovative.msme.gov.in).

2. Evaluation Timeline :

• First stage of evaluation from September 11 to 26.

3. Evaluation Committee Formation :

• Each HI should have a committee of 3 to 5 experts from different fields (e.g., entrepreneurship, technical, financial).
• Include at least one member from the industry in the committee.
• Exclude any member who has submitted an idea from the evaluation committee.

4. Handling Multiple Ideas :

• If over 25 ideas received per theme, create a new evaluation committee for those.

5. Uploading Recommendations :

• Only recommended ideas should be uploaded to the MIS Portal.
• Follow the specified evaluation format for documentation; failing to do so may lead to rejection.

6. Quality Assurance :

• Submit only high-quality ideas to maintain the credibility of HIs.
• Avoid uploading non-recommended ideas to the MIS Portal.

7. Compliance and Consequences :

• Serious actions may be taken against HIs that do not follow guidelines, including potential removal from the approved list.

Evaluation Criteria :

Consider the following parameters :

• Novel and innovative value.
• Usefulness to society.
• Cost reduction in living or processes.
• Improvement in quality of life.
• Clean and green energy focus.
• Innovative value of products/services.
• Scalability of resources used in the product.
• Commercial, technical, and financial viability.
• Climate mitigation measures.
• Intellectual property status.
• Potential for import substitution.
• Energy and resource efficiency.

OFFICIAL WEBSITE << innovative.msme.gov.in >> MSME Idea Hackathon 4.0

CLICK HERE to register for MSME Idea Hackathon

CLICK HERE to download the official notification PDF of MSME Idea Hackathon 4.0