As you know Deshpande Foundation is committed to building an ecosystem that nurtures innovation and entrepreneurship. Navodyami is another step in that direction where we are seeking to provide financial and technical support to budding entrepreneurs from the Sandbox region. Sandbox region includes districts of Belgaum, Dharwad, Gadag, Haveri and Uttar Kannada. We seek to focus on individuals who live in rural and peri urban areas, are relatively resource starved and typically fall out of formal institutional networks such as banks and training institutes. Some examples could be, an entrepreneur looking to start a food processing unit; a mobile repair shop or services, a product shop in rural areas and so on. We will be looking for business ideas that are innovative, responsive to people’s needs and are run by ethical means.
Navodyami winners will be provided two kinds of support:
Financial Support: The total award money allocated for Navodyami 2012 is fifteen lakhs rupees. Within this, money will be awarded in three categories i.e. less than one lakh rupees; up to three lakh rupees and up to five lakh rupees. An independent panel of judges will determine the winners and amount of money to be given to a selected business idea.