An initiative of E-Cell IIT Bombay, Eureka calls for the Business Model Competition 2019 Road to Enterprise. Designed to nurture the entrepreneurship spirit among the youth, Eureka is an express highway to turn innovative ideas into reality. Dubbed as Asia’s Largest Business Model Competition by CNN and Thomson Reuters, Eureka prides in providing the young entrepreneurs a life-time experience in the period of 5 months it spans. It is a platform that acknowledges the potential in your idea, helps you draft a Business model and provide an opportunity to pitch your startup in front of an experienced panel of investors.
Eureka 2019 Business Model Competition Award
Asia’s Largest Business Model Competition, Eureka 2019 has a total endowment of INR 5 Million. The awards is available in several categories. However, participants must note that one winner is eligible to prize in one category only.
- SMU University Cash prize worth INR 1.3 million. Also, an opportunity to get direct entry into the category finals of Singapore Management University 10th Lee Kuan Yew Global Business Plan Competition
- Business Track: Winner- Prize money of INR 500,000 Runner up- Prize money of INR 300,000
- Social Track: Winner- Prize money of INR 200,000 Runner up- Prize money of INR 100,000
- Special awards: IIT Bombay award- Prize money of INR 100,000
- Mentoring: To all the Winners, we provide a variety of startup services like Legal Consultancy, Financial Consultancy, web development services, Digital Marketing, Video making services and designing services.
- Media Coverage
- iCreate: Opportunity to be considered in the final selection stage of ‘Nidhi Prayas Scheme’
- Lean Startup workshop(LSW)
- Amazon Web Service resources worth 15000 dollars to semifinalists and finalists of Eureka!
- Networking: Top 80 entries will be a part of our 2-day extensive mentorship program where business ideas will be evaluated and given feedback by our highly experienced and acknowledged pool of seasoned entrepreneurs, experienced professionals, and industry mentors.
Who is eligible for the Eureka 2019 Business Model Competition?
Everyone from student to working professionals all around the world is eligible to compete in the Eureka 2019 Business model competition. Moreover, participants may compete individually or as a team. Further, they must meet the following criteria:
- Start-ups which have been incorporated for more than two years (i.e. registered on or before 24th August 2017) are not eligible to participate in the Business track of Eureka! 2019.
- However, ventures that have acquired funding from external investor-networks (angels, VC’s, etc) cannot participate.
- Nor Past year winners can participate again.
For the social track, the participants must meet additional criteria including:
- The plan should solve a critical social and/or environmental problem in an innovative as well as transformational way.
- Further, the mission and practices of the venture must focus on quantifiable social return.
- Also, the venture must be for-profit and financially viable; non-profit entries are not eligible.
- Each team must comprise a majority (50% or more) of IIT -B residents (students, faculty, as well as anybody residing in the campus).
- Further, IIT-B residents must be actively involved in the venture.
- Also, ventures of IIT Bombay residents should satisfy the norms mentioned in the above policy.
How to apply
Participants must register for the Eureka Business Model competition through the online portal. The participants have to fill a questionnaire (fully) before 24th September. Any discrepancy in the registration process is tantamount to being disqualified.
E-Cell IIT Bombay will accept the application for Eureka Business Model Competition until 24 September 2019. Applications arriving after the deadline are not valid.