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3 Pioneering Ideas from Woxsen University secure 45 Lakh grant at MSME Idea Hackathon 3.0(Women)

By   /  April 5, 2024  /  Comments Off on 3 Pioneering Ideas from Woxsen University secure 45 Lakh grant at MSME Idea Hackathon 3.0(Women)

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HYDERABAD, India, April 4, 2024 /PRNewswire/ — Woxsen University is elated to announce as three ground-breaking ideas from our Host Institution(HI) have been chosen for the esteemed ‘MSME Idea Hackathon 3.0(Women),’conducted by Ministry of MSME under the MSME Innovative Scheme. The financial assistance of Rs 15 lakh per idea, were granted to the three women participated through Woxsen University(Host Institution).

Woxsen University’s Trade Tower has been officially approved as an MSME Host Institute/Business Incubator by the ministry of MSME. By allocating a dedicated area within the university and assigning qualified mentors, we aim to offer guidance and support to budding entrepreneurs. “I feel incredibly proud of our student and faculty for securing this MSME grant. It’s a testament to the innovative spirit and entrepreneurial drive we foster at Woxsen. This achievement empowers them to make a tangible impact on the Indian economy,” said Dr. Daya Shankar, Dean-School of Sciences and Head of Trade Tower, Woxsen University.

The MSME Idea Hackathon, dedicated to empowering Micro, Small, and Medium Enterprises (MSMEs), has showcased remarkable contributions of women entrepreneurs. They are driving impactful change through their ground-breaking ideas and initiatives, leveraging technology, sustainability, and creativity to address societal challenges and foster economic growth.

A total of 18,888 ideas were submitted for the MSME Idea Hackathon. Among these, 7519 ideas were selected and uploaded by Host Institutes (HIs), and 5676 ideas were sent to the Domain Expert Selection Committee (DESCs) for review. After filtering out 680 ideas, Project Monitoring &Advisory Committee (PMAC) has approved 397 ideas for funding.

The MSME Idea Hackathon was conducted in every region, including Telangana where Woxsen took the initiative to organise it. As a Host Institute, Woxsen received a total of 49 ideas out of which 10 were selected for Presentation, 5 were recommended for funding with 3 ideas finally securing grants of 15 Lakhs each. The three Ideas that received grant through our Host Institute are as follows:

Indian Craft Connect- AI & AR based platform for Artisans and Buyers by Avani Reddy, BBA Student, Woxsen University. Craft Connect is designed to bridge the gap between artisans and buyers, showcasing the rich cultural heritage of Indian crafts while leveraging modern technology.

Bandha – Empowering wellness through mindful movement by Ar. Dhruma Bhavsar, Associate Professor, Woxsen University. Bandha utilizes leftover Indian fabrics to produce eco-friendly, reusable and culturally significant yoga gear.

Carbon Accounting & Mitigation Platform by Charu Dhyani, Co-Founder & CEO, Pro Zero Carbon & Wudbox. This organization strives to democratise ESG & Sustainability by empowering corporates and institutions to measure, track, & improve their sustainability metrics and achieve decarbonization goals.

The jury consisted of External and Internal Committee members from different areas of expertise. The Internal committee at Host Institute(HI), Level included, Dr. Daya Shankar, Dean-School of Sciences, Head of Trade Tower, Woxsen University; Dr. Beauty Pandey, Associate Professor, Woxsen University; Mr. Manoj Kumar, Founder & CEO, Bada Ghar Wala Technologies; Dr. Zahoorullah SMD, Founder & CEO, Dr. Z Labs; Ashok Tankala, Freelance Tech Advisor & Ex-Director, Car Dekho.

“Receiving funding from MSME for my idea fills me with excitement and gratitude. The guidance and mentorship provided by the university and its Trade Tower, have been instrumental in this journey,” exclaimed Avani Reddy, BBA Student, Woxsen University.

Woxsen University congratulates all the winners and participants for their innovative contributions and looks forward to continuing its support for entrepreneurship, sustainability and innovation in the region.

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