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IIMK Launches a Unique Business Plan Competition IDEA 2006: Business Plan Contest is a path-breaking initiative of Indian Institute of Management Kozhikode (IIMK). Launched in association with Kerala Venture Capital Fund (KVCF), IDEA, unlike the usual business plan contests, has a refreshing approach by specifically inviting participation from would-be entrepreneurs, start-ups and incubators. The uniqueness of this competition is that IDEA would showcase bankable business propositions with an added advantage of possible conversion to actual business ventures. IDEA is conceived and launched by students of the Entrepreneurship Cell of IIMK. A business plan is a master plan for a business venture that details, among others, business objective, implementation, resources deployment and value creation, especially for the society and consumers. IDEA offers a total prize money of Rs. 2,00,000/- to the participants. This is one of the highest prize money packets offered across all business plan competitions conducted by Indian B-schools today. Though participation is open, at least one member of the participating team should be a full-time student of a business management programme from any of the management institutes in the country. The business plan can be either for commercial or not-for-profit purpose.
The detailed rules and information are available at According to Mr. K. A. Joseph, Managing Director, KVCF, the partnership with IIMK and conducting of events like IDEA would bring out to the fore the best in innovation, both in terms of technology and business and would facilitate conversion of bankable business propositions into commercial ventures. It would also provide a unique forum for budding entrepreneurs to walk through a constructive learning process. As a special case, there is a separate award for the best business plan proposed for Kerala. It is expected that this event will set a precedent of such open contests and would have special significance for nurturing entrepreneurship. Concluded. Click here to post your views/ comments/ experience on this... Contributed by - |
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