With the Atmanirbhar Bharat initiative of the government of India, entrepreneurship is the buzzword that has caught the fancy of the nation. In a bid to promote entrepreneurship and unlock India’s inventive potential, the Entrepreneurship Cell of IIT Bombay, which has established 200+ E-Cells in different colleges across the country, has now come up with the 22nd edition of its annual business plan competition Eureka! that looks to combine technology, vision and business acumen.
Eureka! is Asia’s largest Business Model competition held by the Entrepreneurship cell of IIT Bombay and presented by Deutsche Bank. The competition, which was incepted 22 years ago, has grown from 50 teams competing for INR 50,000 to a competition which now sees over 11,500 entries competing for prizes worth INR 5 million at stake with excellent networking opportunities in India and Silicon Valley.
In this uncertain year, Eureka! Is a breath of fresh air and certainty. With problems being faced by almost every sector, this business model competition not only aims at providing solutions to the problems but at the same time has huge prize money up for grabs. This year the competition is divided into 5 major tracks:
- Eureka! Business Track: The Flagship track of Eureka!, the business track aims to help ideas develop into businesses that have the potential to revolutionize the world.
- Eureka! Social Track: Eureka! Social encourages ideas and B-models which cater to people closer to the bottom of the pyramid and/or for a greener tomorrow.
- Deutsche Bank Fintech Track: Fintech encompasses advances in technology and changes in business models that have the potential to transform the provision of financial services through the development of innovative instruments, channels, and systems.
- Cisco LaunchPad Edutech Track: With COVID19 shaking up the entire world including the education system, transition to a digital mode has now become an absolute necessity rather than a mere technology-driven trait. This track has got education and innovation excellence at its core.
- Small Industries Development Bank of India (SIDBI) COVID-19 Response Track: This track is for startups that have bloomed during or before COVID-19 as a response to it.
This year in association with the Deutsche Bank Group, Eureka! aims at providing a once in a lifetime experience to all its participants. Deutsche Bank, currently in its 150th year, is a leading German bank with strong European roots and a global network. It provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments, and institutional investors. Over the last 40 years, Deutsche Bank has grown to become one of the largest foreign banks in India, with branches in 16 cities across the country and nearly 13,000 employees across its various businesses and global capability centers. Other sponsors include Cisco Launchpad, SIDBI, RedHat, Qualcomm Ventures, MergerDomo, BEENEXT, Solidworks, Postman, Lawgical, IIFL Disrupt, BSC BioNEST Bio-incubator, Freshworks, etc which ensures the grandeur of this competition.
Eureka! not only provides you with prizes worth INR 50 Lakhs but also an opportunity to get direct entry into the category finals of Singapore Management University 11th Lee Kuan Yew Global Business Plan Competition, discounted passes for top 20 winners to Global Entrepreneurship Bootcamp, $20,000 worth courses, bootcamp and free online consultancy services to top participants by the along with incubation opportunities to top 25 startups. If this is not enough, the top 3 teams will get an opportunity to pitch directly to the Flagship Incubation program of BIL-Ryerson Technology Startup Incubator Foundation. Moreover, all the finalists would get an opportunity to be considered in the final selection stage of ‘Nidhi Prayas Scheme’ with up to 18 month-long prototyping support and incubation with the monetary support of 10 lakhs!
Eureka prides itself on providing a 360 degree, holistic experience in the 5 month period that it spans. If you feel that your Idea is the best and funding is all that’s needed to turn your idea into reality. Then why don’t you let the same Idea win money for you?
Register with E-Cell IIT Bombay as soon as possible to get going.
Who knows, your idea might be the next best thing in the market 🙂
Registration Deadline – 17th October, 2019
Register at – www.ecell.in/eureka
Prize money – INR 5 million