NTPC IDEATHON shall be an internal event among NTPC executives to invite early-stage business ideas with potential to be developed into successful ventures.
Purpose:
Identification of young thought leaders, confident individuals who are committed to innovation, passionate about work and producing higher value for NTPC.
Encouraging employees to innovate, own and drive their Idea for creation of successful start up
Transforming NTPC into Vibrant Organization by supporting Individual Growth and Aspiration, creating Future ready Work Force
Bringing out Entrepreneurial talent and helping in developing an agile culture with enhanced ownership and decision making skills
Supporting early-stage ideas with the potential to scale up to Commercial Scale
Developing ‘incubation ecosystem’ by Nurturing/Mentoring employees while they build new businesses
Recognize and reward the top-performing teams with prizes such as incubation opportunities, mentorship support, networking opportunities, or access to funding sources
Incubation Break: A specially crafted Incubation Break to be taken by team where winning teams take a break up to 1 year from their regular duties and work on their ideas. During this break stipend will be provided along with Medical Facilities to employees
Equity Infusion Opportunity: Investment decision in selected start-ups will be taken up on case to case basis as per relevant provisions and requirements (based on investment policy of NTPC for start-ups and specific provision under BD fund, for which separate approval will be taken).
Post Incubation Support: NTPC may also provide post-competition support to promising teams by connecting them with relevant resources, incubators, accelerators, or investors enabling teams to pursue their entrepreneurial journey.
To facilitate the creation of PoC /start up, NTPC shall allow Incubation Break under the Sabbatical Scheme to selected team/participant till completion of PoC (maximum up to 1 year).
During the Incubation Break, a stipend amount at the rate of 50% of the last drawn basic pay shall be provided to NTPC employee.
The medical facility as per NTPC rules shall be extended for employee and dependents during the Incubation Break.
The employee may be allowed to retain the last provided Company accommodation in the NTPC township for the dependent family members for the duration of the Incubation break as per NTPC rules.
Acceptance of any part time employment, scholarship, honorarium or any other allowance/payment from any outside agency during the Incubation Break without prior sanction of the competent authority shall be prohibited.
Moratorium on company provided loans/advances shall be given for the period of Incubation Break. The moratorium shall end after the Incubation Break on rejoining the services of the Company. In case of resignation/Sabbatical, the loans / advances shall be settled as per Company Rules.
In case the Company decides to infuse equity in the Start-up, the employee is mandatorily required to resign or opt for regular sabbatical from the Company.
The Incubation Break shall be excluded from the service for determining eligibility for Promotion and Seniority.
New and workable ideas on different growth areas from working executives.
Development of Agile innovation ecosystem, that will nurture innovative thinking, create a culture that embraces change, adapts to new trends to stay ahead of competition.
Help in identifying high-potential individuals who can be groomed for future leadership roles – Help in creating Role Models.
Platform to facilitate NTPC’s venture into smaller segments (B2C), not viable with NTPC’s size but having huge growth potential viz. Distributed Generation, EV Infrastructure etc.
Retention of Top Talent by providing immense growth opportunities.
