Mangaluru: Sahyadri College of Engineering and Management has been recognized by Ministry of Micro, Small and Medium Enterprises (MSME), Government of India as a Host Institution (HI) to set-up/establish Business Incubator (BI) for implementation of the scheme namely“Support for Entrepreneurial and Managerial Development of MSMEs through Incubators.”
The main objective of this scheme is to promote and support untapped creativity of individuals and to promote adoption of latest technologies in manufacturing as well as knowledge based innovative MSMEs. Grants are sanctioned to Sahyadri to establish Business Incubator and to provide space, equipment, laboratory and all the auxiliary support to incubate to nurture of their ideas for the business and technological developments.
Types of financial supports available under the scheme are:
- Financial support up to Rs. 15.00 lakh per idea will be provided to HI. This support will be given in two installments of 70% and 30%
- Financial support up to Rs. 1.00 crore will be provided to HI for procurement and installation of relevant plant and machines including hardware and software etc. in BI in order to strengthen the technology related R&D activities and common facilities forincubates of BI. This support will be given in two installments of 50% each.
- Financial assistance up to Rs. 1.00 crore to HI as seed capital fund for converting deserving ideas into start-ups.
Chairman of the college Mr. Manjunatha Bhandary complemented the faculty for the recognition of Sahyadri College of Engineering and Management as Host Institution to set up/establish Business Incubator. He also emphasized the active participation of local MSMEs, faculty and students of this region in innovation and entrepreneurship to make use of this opportunity and facility available in the institute for the technological and economic development of the region and the country as a whole.
For more information on the Business Incubator at Sahyadri,you can contact Dr. Rajesh A. Shetty, Mobile: +91 7738931378 or Email: [email protected]