For budding entrepreneur Gaurav Parashar, one of the winners of “Eureka 2008”, the international business plan competition of IIT Bombay, was a great platform that helped his team.
For budding entrepreneur Gaurav Parashar, one of the winners of “Eureka 2008”, the international business plan competition of IIT Bombay, was a great platform that helped his team take an idea to the implementation level.
“We’ve registered our firm and are at the product development and testing phase. Eureka is one of the greatest opportunities one can get in India. It helped us in idea validation, in understanding scope of the business and streamlining our plan. It provided us with mentorship and helped network with venture capitalists,” said Parashar, a final year IIT Bombay student.
An initiative of the institute’s Entrepreneurship Cell (E-Cell), Eureka 2009 was launched on September 1 at IIT Bombay where entrepreneurship is the buzzword now. The event, aimed at generating entrepreneurs who can lead ventures, will accept entries for a month. This will be followed by selection of the top 50, who will be allocated mentors.
“While we had phone mentoring last year, this year we will allocate mentors as per city so that participants can directly meet them. To help them refine their business models, we’re also introducing workshops,” said Archit Garg, public relations manager, E-Cell.
Mentors’ meet will be held at IIT Bombay in December to gauge the progress, after which participants will have to submit final B-plans. “Subsequently, the top 10 will be selected and the finals will be held at the E-Summit in February 2010. The top three will get to pitch their business plans to members of Indian Angel
Networks,” said Rohan Kohli, corporate relations manager, E-Cell. With a prize money of Rs21 lakh, Eureka 2009 expects more entries than 2,000 enteries it received in 2008.
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