Eureka: IIT Bombay’s Business Plan Competition
Eureka! is an international business plan competition which aims at encouraging people from across the globe to flesh out their ideas and form global enterprises that combine technology, vision and business acumen.
A 5 month long educational experience, the format of the competition has been designed to emulate the process of raising funds for one’s startup, covering right from writing a business plan to pitching before an investor.
Now in its 14th year, Eureka! has become a launch pad for startups in India and beyond where they learn how to formulate an appropriate b-plan and the do’s and don’ts of making the right pitch from expert mentors, industry veterans and investors.
Over a period of 14 years, Eureka! has grown from a competition consisting of 50 teams competing for INR 50,000 to over 3600 teams from around the world competing for a total prize money of INR 4 million and networking opportunities in India and the Silicon Valley.
It has been independently recognized as Asia’s largest Business Plan Competition by Thomson Reuters and CNN.
The competition is structured with the vision to promote both business as well as social innovation which is why 2 parallel tracks have been instated:
- Eureka! Business
- Eureka! Social
Eureka! Social, into its second year, is an initiative taken with a vision to foster innovative technology and business models aiming to add value to the people at the bottom of the pyramid and/or help build a greener tomorrow.
It has been extensively supported by social organizations such as NSEF and Dasra, and will run as a parallel track.
The IIT Bombay B-Plan of the year Award is given to the best IIT Bombay entry. It was instated with a vision to support young and emerging start-ups from the institution and guide them to success.
In different parts of the globe, ideas by the young generation have revolutionized the landscape of the world economy. Be it Facebook, Google or Microsoft, these brilliant minds, with their wacky ideas, have changed the way that we look at the world today.
With a vision to promote entrepreneurship among the youth in India and beyond, a new dimension has been added to Eureka!-Eureka! Youth Award (INR 1,00,000, office space and other consultancy services).
See the website here.
Full list of incentives is here.