Awareness Camp for Idea Hackathon 3.0

On 06.07.2023 an Awareness Camp for MSME Idea Hackathon 3.0 was organized by the Entrepreneurship Development Cell in association with the IIC and MSME Business Incubator of FXEC. The Session was handled by Shri G. Simiyon, Assistant Director, head of the office, Branch MSME-DFO, Government of India, Tirunelveli from 09.30 AM - 12.30 PM. 62 students and 23 faculties participated. This event was coordinated by Dr K. Lakshmi Narayanan, Head, MSME Business Incubator, Francis Xavier Engineering College.

The guest speaker Shri G. Simiyon, Assistant Director, head of the office, Branch MSME-DFO, Government of India started the session by explaining the main purpose of organizing the Idea Hackathon 3.0 and the financial assistances given by the MSME for the development of innovative products and to develop the startup. He said the winners of the Idea Hackathon will receive funding of up to ₹15 lakh and incubation support under the Ministry’s MSME Innovative Scheme for nurturing and development of Idea into prototype. Then he shared the eight mandate for Ideassuch as Marketing & Branding, Innovation related to the customer experience, Ideation, Innovation related to the product idea & concept, Technology, Innovation related to the product functionality, Co-creation, Innovation related to the customer involvement, Technology, Innovation related to the product functionality, Entrepreneurship, Innovation related to through entrepreneurial thinking, Open Innovation, Innovation related to stakeholders and Business Model Innovation, Innovation related to the purpose and strategy.

The guest speaker shared Process Flow of Idea Evaluation. He said there were four stages, stage 1: Evaluation by the Host Institutes, stage 2: Evaluation by the Ministry of MSME, Stage 3: Selection of Ideas by Domain Expert Selection Committee (DESC) and Stage 4: Final selection by Project Monitoring and Advisory Committee. He also shared the ideas on various sectors like Agriculture, Rivers & Ocean Produce based industries, fertilizers, Agricultural Implements & Agro processing and any related sub-sector, Healthcare & Life sciences, Medical Devices, Pharmaceuticals, Biotech, AYUSH and any related sub-sector, Power, Renewables, Electricals, Power Electronics, Energy Efficiency and any related sub-sector, Services, Education, Hospitality, Media, Publishing, Entertainment, Design, Wellness, Logistics, Sports and any related sub-sector and Miscellaneous Sector (Environment, Forests, Water & Sanitation; Foods, Beverages, FMCG, Consumer Goods; Infrastructure, Construction, Housing; IT, ITES, Electronics, White Goods, Telecommunication; Metals, Engineering, Machinery, Automation and Transportation, Automotive, E Vehicles, Railways, Aviation, UAV and any other sub - sector). At the end of the session he cleared the doubts of the participants and also encouraged the woman participants to submit innovative Ideas in the MSME Idea Hackathon 3.0.