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To give a boost to start-up ecosystem along coastal Karnataka, AIC-Nitte Incubation Centre has launched ‘Kaun Banega Udyamapathi’ contest for young entrepreneurs from three districts of coastal Karnataka.
Speaking at the launch of the contest in Mangaluru on Friday, AP Achar, Chief Executive Officer of AIC-Nitte Incubation Centre, said this event is aimed at providing a platform for start-ups to grow at the regional level to foster the ecosystem at the national level.
AIC-Nitte Incubation Centre has been organising this content in association with Karnataka Bank Ltd.
The contest is open to business ideas that involve or leverage eco-friendly technology in any sphere of human activity.
He said the contest seeks innovative ideas from individuals, research teams, entrepreneurs and early/idea stage start-ups for new products, processes and services. Any person below the age of 40 belonging to Dakshina Kannada, Udupi and Uttara Kannada districts can participate in it.
He said all the registered participants will get free knowledge sharing session and open mentoring session from mentors and participation certificate. Top 100 ideas shortlisted in the first round will get free mentoring sessions by industry experts to refine their ideas. Of the 100 ideas, 50 will be shortlisted for participation in boot camps.
Expert guidance, strategic advice and mentorship will be provided by the industry experts to the 25 finalists.
The top-five most innovative business ideas – with focus on areas such as agriculture technology, biotechnology, information technology (software as a service), energy, and medical technology -- that can be commercialised will get seed capital up to ₹25 lakh, and winners will be provided with free incubation support to commercialise their business ideas, he said.
Ashok Alur, Director of Centre of Excellence for FPOs and chairman of ‘Kaun Banega Udyamapathi’ contest, said that the Karnataka government will replicate this model in other parts of the state based on the outcome of the event in coastal Karnataka.
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