SIDBI online contest for young entrepreneurs

With a view to promoting its new Web site, Small Industries and Development Bank of India (SIDBI) has launched an online contest for young entrepreneurs.

SIDBI, through its Web site initiative smallB.in, has announced a contest for young entrepreneurs to win Rs 50,000 for their innovative business ideas, the bank statement said.

In this contest, Indians above 18 can submit entries of their original ideas of their dream ventures, as well as analyse innovative businesses for smallB.in within the prescribed word limit. The entries are to be submitted on or before December 15, on its Web site.

It is an initiative by SIDBI to encourage and motivate younger generation including students, executives, bankers, housewives and self-employed professionals to opt for self-creation of wealth through innovative ways, the statement said.

Sushil Muhnot, Chairman and Managing Director, SIDBI, said: “smallB.in’s contest will encourage and empower everyone to think about starting a new set-up. It will facilitate innovative ideas that score on creativity and ability to implement.”

Beena.parmar@thehindu.co.in