And you need not be in any of the the Indian Institutes of Technology or the Indian Institutes of Management to be eligible for this. The Ministry of Micro, Small and Medium Enterprises is giving a push to its 'incubator scheme' for creating new entrepreneurs.
Innovative ideas from aspiring entrepreneurs are considered under the 'Support for Entrepreneurial and Managerial Development of SMEs through the 'Incubator' scheme of the MSME ministry. The ministry have so far helped 25 institutions which extend funds to those who have viable business ideas.
"This may be in the nature of new technology, processes, and products," MSME Additional Secretary and Development Commissioner Madhav Lal said.
Lal said the incubator scheme can assist in nurturing entrepreneurial talents and ventures and help them survive and grow during the start-up period, when they are most vulnerable.