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The support for Entrepreneurial and Managerial Development of Small and Medium Enterprises (incubator) scheme of the National Manufacturing Competitiveness Programme (NMCP) aims to which one of the following?
  • a)
    To provide startup financial support to new ventures
  • b)
    To provide financial support to existing MSMEs
  • c)
    To provide supporting and nourishing business based new ideas in knowledge institutions
  • d)
    To build awareness on intellectual property rights for the MSMEs
Correct answer is option 'C'. Can you explain this answer?
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Support for Entrepreneurial and Managerial Development of Small and Medium Enterprises (incubator) scheme:

The support for Entrepreneurial and Managerial Development of Small and Medium Enterprises (incubator) scheme under the National Manufacturing Competitiveness Programme (NMCP) aims to provide supporting and nourishing business-based new ideas in knowledge institutions.

Explanation:

Supporting and Nourishing Business-Based New Ideas:
- The scheme focuses on nurturing and developing new business ideas that originate from knowledge institutions such as universities, research centers, and other educational institutions.
- It aims to support the transformation of innovative ideas into commercial ventures by providing the necessary resources, guidance, and mentoring.

Entrepreneurial and Managerial Development:
- The scheme also focuses on fostering entrepreneurial and managerial skills among individuals involved in these new ventures.
- It provides training, workshops, and mentorship programs to enhance the capacity of entrepreneurs to effectively manage and grow their businesses.

Role in Promoting Innovation:
- By supporting new business ideas and promoting entrepreneurship, the scheme plays a crucial role in fostering innovation and economic growth.
- It encourages the creation of new products, services, and technologies that can contribute to the competitive advantage of the MSME sector.

Impact on Knowledge Institutions:
- The scheme also benefits knowledge institutions by providing an avenue for their innovative ideas to be translated into real-world applications.
- It creates a bridge between academia and industry, facilitating the transfer of technology and knowledge for commercialization.

In conclusion, the support for Entrepreneurial and Managerial Development of Small and Medium Enterprises (incubator) scheme aims to support and nurture business-based new ideas originating from knowledge institutions, thereby promoting innovation, entrepreneurship, and economic growth in the MSME sector.
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The support for Entrepreneurial and Managerial Development of Small a...
The support for Entrepreneurial and Managerial Development of Small and Medium Enterprises (incubator) scheme of the National Manufacturing Competitiveness Programme (NMCP) aims to provide supporting and nourishing business based new ideas in knowledge institutions. Under the scheme, various institutions like engineering colleges, research labs, etc. were provided funds up to Rs. 6.25 lakh for hand holding each new idea/entrepreneur.
The incubation support is provided by host institutions, namely:
  • Indian Institutes of Technology (IITs)
  • National Institutes of Technology (NIITs)
  • Engineering colleges
  • Technology Development Centres, tool rooms, etc.
  • Other recognised R&D/Technical Institutes/Centres, Development Institutes of DIP & P in the field of paper, rubber, machine tools, etc.
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The support for Entrepreneurial and Managerial Development of Small and Medium Enterprises (incubator) scheme of the National Manufacturing Competitiveness Programme (NMCP) aims to which one of the following?a)To provide startup financial support to new venturesb)To provide financial support to existing MSMEsc)To provide supporting and nourishing business based new ideas in knowledge institutionsd)To build awareness on intellectual property rights for the MSMEsCorrect answer is option 'C'. Can you explain this answer?
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The support for Entrepreneurial and Managerial Development of Small and Medium Enterprises (incubator) scheme of the National Manufacturing Competitiveness Programme (NMCP) aims to which one of the following?a)To provide startup financial support to new venturesb)To provide financial support to existing MSMEsc)To provide supporting and nourishing business based new ideas in knowledge institutionsd)To build awareness on intellectual property rights for the MSMEsCorrect answer is option 'C'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about The support for Entrepreneurial and Managerial Development of Small and Medium Enterprises (incubator) scheme of the National Manufacturing Competitiveness Programme (NMCP) aims to which one of the following?a)To provide startup financial support to new venturesb)To provide financial support to existing MSMEsc)To provide supporting and nourishing business based new ideas in knowledge institutionsd)To build awareness on intellectual property rights for the MSMEsCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The support for Entrepreneurial and Managerial Development of Small and Medium Enterprises (incubator) scheme of the National Manufacturing Competitiveness Programme (NMCP) aims to which one of the following?a)To provide startup financial support to new venturesb)To provide financial support to existing MSMEsc)To provide supporting and nourishing business based new ideas in knowledge institutionsd)To build awareness on intellectual property rights for the MSMEsCorrect answer is option 'C'. Can you explain this answer?.
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