National competition: Grants of up to Rs 15 lakhs
Chhatrapati Sambhajinagar: The Ministry of Micro, Small, and Medium Enterprises (MSME) successfully organized the 'Idea Hackathon 2022' competition under the MSME Champions scheme, with two startups emerging as winners to receive grants of up to Rs 15 lakhs each from the central government.
Magic, the host incubator for the competition, received applications from 50 innovative startups hailing from five states across the country. After a rigorous selection process, 13 startups were shortlisted by Magic and presented at the national level competition, from which two startups were ultimately chosen for the prestigious grant. Meanwhile, the Ministry of MSME has announced 'MSME Idea Hackathon 3.0,' a competition exclusively for women entrepreneurs. The competition welcomes innovative ideas that address challenges faced by women students, startups, and MSMEs. The application deadline for this exciting new venture has been extended until August 10, as informed by Magic. In all, 13764 students, entrepreneurs and MSMEs from across the country participated in the MSME Hackathon Innovation Competition, out of which 276 startups from across the country were selected as finalists.
Indigenous BLDC motor
The first winning startup is Vaibhav Karad's company, operating under the Magic Institute, which has developed an indigenous BLDC motor controller catering to Electric Vehicle (EV) applications. This innovative solution holds significant promise for the EV industry.
MessageMe bags second prize
The second recipient of the grant is Kanak Kavadiwale's 'MessageMe,' a cutting-edge enterprise messaging platform that utilizes cloud quantum technology for secure communications. 'MessageMe' impressed the expert committee with its forward-thinking approach.