ecell-iitkgp.org Global Business Model Competition 2017 : Entrepreneurship Cell, IIT Kharagpur

Organisation : Entrepreneurship Cell, IIT Kharagpur
Contest Name : Global Business Model Competition 2017
Application Last Date : 22 December 2017
Applicable For : Anyone, from students to working professionals across the world
Prize : Winners & Runner-up of Products & Services Track
Location : Kharagpur
Home Page : https://www.ecell-iitkgp.org/

Global Business Model Competition

Know your Track :
Products & Services Track :
A Business Model that is function oriented and is aimed at providing sustainability of both consumption and production.

Related : NIBM Case Writing Competition 2017 : www.contest.net.in/23908.html

Ideas/Prototypes based on meeting diverse consumer requirements or providing an innovative service.

Social Track :
A Business Model that focuses on adding value to the people at the bottom of the pyramid and/or help building a greener tomorrow. Empresario’s very own track for enterprises that have a positive social or environmental impact.

Structure

Online form submission: The team needs to register on the Empresario website and authenticate their account using Code sent to the email-id specified. After that a team can log into their account and fill the form online.

Early Bird: Additional incentives include extended online mentorship and a face-to-face mentoring session for shortlisted entries.

Mentorship: Mentoring will be provided to the shortlisted teams. The participants are required to make optimum utilization of the mentoring process so as to create an appropriately refined Business Model.

Final Submission: After Mentoring, the teams have to submit their final Business Model in a prescribed format. Visit this link to know “How to prepare a submission”
Grand Finale: The final shortlisted teams will present their final Business Model in front of the judging panel at IIT Kharagpur during the Global Entrepreneurship Summit 2017.

Prizes

** Winners & Runner-up of Products & Services Track
** Winners & Runner-up of Social Track
** Best Innovative Product (Product Design)
** Best IIT Kharagpur Entry
** Special Award for developing App using IBM Bluemix.

What’s EARLY BIRD ?
An oft-quoted term from venture capitalists is that, “As soon as the business plan is written, it is obsolete.” Too often, teams focus on writing a business plan and never actually interact with their target customers.

We believe that early on, the start-up must move quickly to prototype and test their product or service and that customer interaction is critical.

Successful new ventures do not go to market with their first idea; instead, the product/ service has usually gone through several iterations before arriving at the final version.

Since Empresario is one of the few Business Model Competitions in India, we understand that our participants require assistance to generate their business model. Having the support and guidance of a mentor can be of great value to any start-up.

Be it mobile technologies, social startups or even the Internet of Things, we have a pool of experienced mentors ready to assist early stage startups. We have mentors from TiE, NEN, Villgro and Totalstart just to name a few.

Register Now to avail the Early Bird Privileges which includes extended mentoring period (upto 3 months) and an offline mentoring session by IBM to be held in 7 cities during the Entrepreneurship Awareness Drive 2016. A chance to get your idea validated by the IBM team on both the business and technical front.

Rules & Eligibility

** A team may consist of minimum 1 or maximum 5 members.

** Ventures cannot be a buyout, an expansion of an existing company, a real estate syndication, a tax shelter, a franchise, a licensing agreement for distribution in a different geographical area, or a spin-out from an existing corporation.

** There is no restriction on any individual to participate. Anyone, from students to working professionals across the world with an idea,a product or service or even an operating startup, can participate.

Terms And Conditions

By registering for this competition, it shall be deemed that each individual of the participating team has agreed to be bound by the following terms and conditions:
** By registering to participate in Empresario, each participating team agree to allow Entrepreneurship Cell, IIT Kharagpur to use their names, images and information regarding the team’s business, and prize information in publicity and marketing efforts throughout the world.

** Each participating team must agree to accept that their registration form and other entries will not be returned to them, and accept that their personal data will be available for information and statistical purposes.

** The participating team represents that Intellectual Property in the Business Plan does not infringe upon the intellectual property or any other legal or moral right of any person or entity.

** Entrepreneurship Cell, IIT kharagpur reserves the right to disqualify or prohibit from participating in Empresario any team that makes a submission that, in the sole discretion of Entrepreneurship Cell, IIT Kharagpur does not confirm with the Eligibility Criteria or does not comply with these Terms & Conditions and/ or the Competition Rules.

** By entering the Competition, each team and its individual members agree to accept as final any decisions of The Entrepreneurship Cell, IIT Kharagpur including determination of the winners of Empresario.

** Entrepreneurship Cell, IIT Kharagpur shall have the discretion to initiate appropriate action against participating teams including individuals of such participating teams in case of any losses or damages arising from violation of the Eligibility Criteria, Competition Rules and the Terms & Conditions.