As part of New India Challenge 2020, two ideas submitted by Business Incubator unit of NIT Srinagar have been approved by Project Monitoring and Advisory Committee (PMAC) headed by Development Commissioner Ministry of MSME.
The approval of the innovative ideas will allow the incubatees to develop the prototype within the host institution.
Assistant Director MSME DI Srinagar Saheel Alaqband said that the said institution will receive Government of India grant in aid up to 15 Lac per idea for developing and nurturing the ideas as per guidelines.
The Business Incubator at NIT Srinagar headed by Dr. Saad Parvez will provide all the mentoring/ fostering support to the incubatee for development of prototype and allow him to utilize the facilities therein.
The two ideas have been submitted under agriculture and design sector with the aim to commercialise the technology later and help the MSMEs in process and production.