This year at the IITF, a new initiative of the Ministry of Steel the #myLOVESTEELidea challenge was launched at the pavilion, aimed at encouraging Start-Up India, Stand-Up India by inviting fresh business ideas based on steel, and offering one-time financial support to help translate the idea into reality.
Interested participants can submit their ideas till 15th December 2017 by logging on to the portal www.mygov.in. The total kitty of Rs. 10 lakh as cash prize will be split into Rs. 5 lakh, Rs. 3 lakh and Rs. 2 lakh for the best three ideas on steel-related innovation, deployment or commercialization of new product, processes or services or intellectual property. Start-up India: Stand-Up India is one of the core economic development initiatives of the government, and the theme of the IITF 2017, which aims at promoting entrepreneurship and business in various sectors.
The Ministry of Steel (MoS) pavilion at IITF 2017 exhibited various opportunities offered by the steel industry directly or indirectly for starting up new enterprises at any scale. To make the pavilion more attractive, a steel sculpture of the Make in IndiaLion was also on display. There was a steel quiz for the crowd, which also added to the footfall.
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