Not all of us read the news that often have these words stand out “IIT startup” or “IIT graduate”? Well, this is not for nothing. Students from IIT are running first, if not all, the most successful in India. In the corridor of the building, there is a new idea that is given almost every other day.
And in this entrepreneurial spirit, IIT Bombay continues to organize events and competitions based on entrepreneurship. Now they are back with Eureka!, Asia’s Largest Business Model Competition organized by Entrepreneurship Cell-IIT Bombay.
The idea behind Eureka! During a 5-month educational experience, designed to complete the startup fundraising process, including creating a Model B for investors, the competition helps form entrepreneurs tomorrow.
Competition makes entrepreneurial spirit in the participants, helping them think and working as a founder.
For Amol Manjrekar, Founder & CEO of Activatas, Eureka! What a great competition from two perspectives: False, Activatas has been associated with E-Cell, IITB for the last 7 years.
They see the best companies from IITB and Eureka. Second, Eureka guy type! Attract not only businessmen but also panels at Eureka! large.
According to him, the key factors at the beginning should be Team and scale. “There are many startups who have founders or where there are so many founders who are not good.
The correct mixes of two or three are very important, when it comes to scaling, startups should not think about local markets. to global markets Do not build a company just for India- think at the global level of Dina 1, “he said. Me
Here’s how the entrepreneur goes through three phases:
Explains: This is a Pre-Eureka Workshop. Through an intense 6-hour session presented to provide knowledge through brainstorming, BMC and hand workshops, this workshop draws on the idea of entrepreneurship.
Online & Offline Mentors’ Meet: Top 80 teams are rated semi-finalists and each team is assigned a mentor by box. A first Lean methodology workshop is underway to help the semi-finalists team come with Minimal Productivity (MVP).
Pitching: It’s the last day of all the pitch finalists in front of the jury to admit the winning title. Pitching takes place at the E-Summit.
Eureka! Over the years
IIT-Bombay has been successful in supporting entrepreneurship among students since the year, events, conferences, and competitions. Eureka! Not only competition, it is the process of making the idea an effort.
Saurabh Kaushik, co-Founder of Peoplist India believes that Eureka is a global entrepreneurial event, provides, empowers and empowers entrepreneurs with successful entrepreneurship.
During the year, he also mentored the team. “The value of interacting with our team can connect with and identify strong startups that can help clarifies, customers and money faster.
My expectations are that we are able to interact with other startups and want them to come better prepared this year,” he said. .
The Eureka was originally dated 20 years ago.
In all of this exponential growth this year from the popularity of Eureka, this competition has grown from 50 teams competing to 50,000 INR for the competition that now finds more than 10,000 participants who earn a prize of Rp 5 million.
With a vision of introducing business and social innovation, they have two basic tracks:
Preparing Entrepreneurs for its own Eureka
Trademarks from Eureka!, A business track aimed at helping ideas develop into businesses that have the potential to revolutionize the world. Winners receive a prize of INR 5.00,000 when runners up receive an INR 3,00,000 cash prize.
Eureka! Social: Eureka! Social support ideas and B-Models are the ones that apply at the bottom of the pyramid and / or more energetic tomorrow.
The winners are awarded the RMR 2,000 cloud awards while the runner up gets a prize of Rp1,000,000.
Registrar: Eureka! 2018 registration has started on August 25th. People can visit ecell.in/eureka and fill out questionnaires.