National Entrepreneurship Awards to honour outstanding young business persons tomorrow

The ceremony will be chaired by Skill Development and Entrepreneurship Minister Dharmendra Pradhan. Commerce & Industry and Civil Aviation Minister Suresh Prabhu will be the chief guest at the award ceremony.

Press Trust of India January 03, 2019 19:15:40 IST
National Entrepreneurship Awards to honour outstanding young business persons tomorrow

New Delhi: The National Entrepreneurship Awards will be held here on Friday to recognise and honour outstanding young first-generation entrepreneurs and those who have contributed immensely in building the entrepreneurship ecosystem.

The ceremony will be chaired by Skill Development and Entrepreneurship Minister Dharmendra Pradhan. Commerce & Industry and Civil Aviation Minister Suresh Prabhu will be the chief guest at the award ceremony.

"This year, a total of 43 awards will be presented, including 39 awards for young entrepreneurs in different sectors and four awards for entrepreneurship ecosystem builders. The winners will receive a trophy, certificate and cash prizes ranging from Rs 5 to 10 lakh," an official statement said.

National Entrepreneurship Awards to honour outstanding young business persons tomorrow

Representational image: Shutterstock

The awards are classified into three investment categories - below Rs 1 lakh, between Rs 1 lakh and 10 lakh, and between 10 lakh and Rs 1 crore; covering small to big first-generation entrepreneurs below the age of 40 years.

"This is to ensure that entrepreneurs from every socio-economic category take part in the award and they are duly recognised for their meaningful contribution to the economy of the nation," the statement said.

The skill development and entrepreneurship ministry said it has partnered with premier institutes and organisations such as XLRI, Jamshedpur; IIT Bombay, Mumbai; IIT Delhi; IIT Guwahati; IIT Kanpur; and IIT Madras, among others, to ensure due diligence in the nomination and evaluation process.

The award nominations have been subjected to rigorous three-level assessment methodology backed by a detailed study of the nominated companies, based on actual market parameters and performance indicators. Finally, a jury panel represented by eminent thought leaders and industry experts has collectively assessed the results of these evaluations to select outstanding awardees.

To be eligible for these awards, the nominee must be under the age of 40 years; he/she must be a first-generation entrepreneur and must hold 51 percent or more equity and ownership of the business.

There are special awards for women, persons with disability, Scheduled Caste/ Tribes and entrepreneurs from areas with limited opportunities. The women entrants must individually/collectively own 75 percent or more of the enterprise.

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