Mizoram is witnessing an emergence of a young business class with sharp entrepreneurial acumen with a drive for success. Not only do these potential contributors to the economy need to be encouraged and supported, the spirit of entrepreneurship needs to be promoted further especially among the youth of the State. To this end, the Micro Startup Capital Competition or “MIZORAM RAHBI” initiative seeks to provide a stepping stone for emerging and early stage entrepreneurs who are yet to gain traction through grant of micro capital. This assistance will be administered through a fair contest wherein business startup plan proposals will be judged by an unbiased panel of experts to assist sincere enterprises that will potentially in turn contributes to the economic development of the State. The cascading effect of forward and backward linkages of these ventures is also expected to generate significant direct and indirect employment.
As risk-taking is an integral part of entrepreneurship and risk free investment almost never succeeds, the winners will be expected to match fund required for their business plan that is over and above the grant amount (which is a sum not exceeding Rs.5 lakh or half the estimate of the business plan, whichever is lower) or through bank loan.
The Mizoram Rahbi Competition is thrown open from time to time for any resident of Mizoram who has recently started or wish to start an innovative business venture within the State of Mizoram.
The date for the 3rd Mizoram Rahbi Competition will be announced in September, 2018.