“We are all faced with a series of great opportunities brilliantly disguised as impossible situations” – Charles R. Swindoll. And we introduce you to one such brilliant opportunity, specially for individuals who generate new ideas and are interested in building their own start-up. Eureka!, Asia’s Largest Business Plan Competition, launched on 1st Sept ‘11, is a platform for budding entrepreneurs who want to make it big with their own start-up company.
Eureka! is the International Business plan competition organized by IIT Bombay. It aims to create value in the ecosystem as per its belief that entrepreneurs are the ones who will take India and the world to the next level.
With total prizes of worth INR 2.4 million, legal and financial consultancy services, intensive mentoring and an online platform to provide solutions to participants’ queries, Eureka! promotes the best business ideas through various incentives. It’s not just a business plan competition, wherein people submit their business plans and take away the prize money. It is an entrepreneur’s journey from an executive summary to an actual start-up. The competition is open to all and sees participants from different strata like working professionals from various companies, B-schools, Technological Institutes, IITs, NITs and even Medical & Law schools.
The first phase is conducted online wherein an executive summary of B-Plan has to be submitted (facilitated by a questionnaire), which then goes through a transparent judging process for screening. This screening process is then followed by mentoring of the selected teams, and the submission of the refined B-Plans. After further screening, the top 8 entries are given a chance to pitch their further refined B-Plans in front of our expert judging panel and are also the recipients of the prizes.
Eureka! Social (For Social Ventures):
The B-Plans which cater to BoP’s (Bottom of Pyramid) and/or environment are participating separately this year. The revenue model should be self sustainable.
The mentors, judges and resources in Eureka! Social will be specific to Social Ventures, with the timeline being the same as Eureka!.The top 3 winners will get direct entry to Dell Social Innovation Competition, organized jointly by The University of Texas and Dell. Apart from that, there could be offers of incubation to the finalists from leading Social Business supporting bodies like Villgro and UnLtd India. In addition to all the above, there shall also be funding opportunities at Grameen Creative Labs for the winners.
If you need more information on this competition then visit Eureka‘s website. Grab this opportunity and register for Eureka now!