NSDC Innovations for Skills Challenge 2014

National Skill Development Corporation (NSDC) announced the launch of NSDC Innovations for Skills Challenge 2014 (NISC), as a competition that provides innovative skilling enterprises across the country an opportunity to receive debt Investment opportunity by NSDC, which might be up to; but not limited to; INR 3 Crore and as per NSDC funding guidelines.

The Challenge aims to identify and invest in 10 to 15 innovative fundable enterprises that are robust, have sustainable models to impact the skill development ecosystem by achieving faster, inclusive, and sustainable growth of India. In the larger context, anything that is innovative, inclusive, sustainable, and has the capacity to impact at scale and stand the test of time.

NSDC funding is in the form of Debt, NSDC retains the option to take a seat on the Board of Directors. Interested startups and entreprises can apply here for NISC challenge 2014 however carefully look for guidlines and selection criteria. Applications will close on 24th September 2014.

The objective is to look for proposals, which will positively impact and create a multiplier effect in the skill development space. The proposals can be from enterprises, which have solutions to reduce cost, enable new processes and create a higher impact than the existing practices in the current skill development space. Proposals must be validated with a proof of concept. Through this challenge we will not be supporting "Ideas". All initiatives must have at least a pilot that has seen some traction along with a scalable business proposition.

"Through NISC 2014, we aim to invest in innovative businesses that have the capability to scale rapidly and create a sustainable impact on the skilling ecosystem in India. Our focus would be to identify best in class innovations focused on various sectors addressing critical gaps along the value chain. We welcome and encourage entrepreneurs to consider opportunities in this sector, and submit solutions that have the ability to strengthen the industry, particularly the manufacturing sector that consists of millions of SMEs," said an NSDC spokesperson in a statement to Economics Times.

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