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Ministry of Skill Development and Entrepreneurship announces fourth edition of National Entrepreneurship Awards, 2019 (Relevant for GS Prelims)

What is the eligibility criteria?
There are a total of 45 specially designed awards to be bestowed – 39 Enterprise Awards and 6 Awards for Entrepreneurship Ecosystem Builders. To be eligible for these awards, the nominee must be under the age of 40 years; they must be first-generation entrepreneurs; the nominee (entrepreneur) must hold 51% or more equity and ownership of the business; and women entrants must individually or collectively own 75% or more of the enterprise.

Process of selection
The annual awards aim to recognise individual or organization(s) that have made outstanding contributions in the entrepreneur ecosystem of India. The purpose is to highlight models of excellence for others to emulate and improve upon. Nominations are encouraged for individuals or teams of individuals from across India. I therefore urge to all the budding entrepreneurs to come forth and be a part of this National Entrepreneurship Award and showcase how their contribution has made a difference in the country.”

Candidates will be mobilised through Nomination/Self-nomination, and will undergo a three-level rigorous evaluation process, wherein, in the last step the National Jury of eminent persons drawn from academia/research, industry, social sector, banking etc., will selectthe winners.  To ensure excellence of the National Award, the Jury has the power to not award any applicant in a given category, if applications are found unsatisfactory.

Indian Institute of Technology (Madras, Delhi, Guwahati, Kanpur), IRMA, NABARD, National Innovation Foundation, National Small Industries Corporation, National Institute IAEM, Rural Development and Self-employment and Training Institute, TISS, Xavier’s School of Management are the organisations supporting the implementation of NEA 2019. These institutes will assist in outreach and primary selection of award entries.

What do awardees get?
Winners will be felicitated in a grand Award Ceremony, organised by the Ministry of Skill Development & Entrepreneurship, and will be presented with a Trophy, Certificate and a Cash Prize of ₹5 lakh (enterprises/ individuals) and ₹10 lakh (organizations/ institutes). The ceremony has been proposed to take place in November 2019.

About National Entrepreneurship Awards (NEA)
As an important step to catalyse a cultural shift in youth for entrepreneurship, the Ministry of Skill Development and Entrepreneurship (MSDE) has instituted the National Entrepreneurship Awards (NEA) to recognise and honor outstanding young first generation Entrepreneurs and their Ecosystem Builders for their outstanding contribution in entrepreneurship development.The National Entrepreneurship Awards (NEA 2019) is the 4th edition in the NEA series. The awards seek to instill and entrench the entrepreneurial attitude among the future generations and the Youth of India.

(Source:http://pib.nic.in/PressReleseDetail.aspx?PRID=1581564&RegID=3&LID=1)



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