Kerala govt announces 'DREAMVESTOR' - Innovative Idea Contest

The Kerala government on Thursday announced an innovative idea contest – Dreamvestor - carrying Rs 5 lakh as first prize, for prospective entrepreneurs and business aspirants to present their ideas before an eminent panel and explore the possibility of converting their concepts into business ventures.

Industries Minister P Rajeeve, while officially launching the contest at Mascot Hotel here, said the selected ideas would be provided necessary handholding support such as access to incubation space in government-owned Business Incubation Centres, mentoring support to overcome the challenges, access to seed capital assistance, and market linkages.

''The state government has declared Financial Year 2022-23 as the 'Year of Entrepreneurship'. As part of the entrepreneurship development initiatives, the Department of Industries & Commerce, is holding the contest,'' he added. The minister said the government has been formulating policies to promote entrepreneurship among the youth to arrest brain drain which jeopardised the sustainability of the economy in the long run, besides causing social imbalance where there are no children to look after the aging parents.

Principal Secretary, Industries, A P M Mohammed Haneesh; and Director, Industries and Commerce, S Harikishore, were also present. Prospective innovators from various sectors in the state will get opportunity to submit their ideas along with marketing plans from November 24 onwards through the official website for the contest. Selected 50 ideas/concepts will be considered in the semi-finals and best 20 ideas/concepts will be selected for finals, an official release said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)