Entrepreneurship Cell, IIT Bombay, to Host Business Plan Competition, 'Eureka! 08'

Entrepreneurship Cell, IIT Bombay, to Host Business Plan Competition, 'Eureka! 08'
Last Date for Executive Summary Submission: October 4, 2008
Detailed B-Plan Submission: December 27, 2008
Eureka! Finals: February 8, 2009

The Entrepreneurship Cell (E-Cell), IIT Bombay, firmly believes that emerging economies like India need the drive and innovation of young entrepreneurs. The Cell not only motivates the youth towards Entrepreneurship, but also makes efforts to provide them

with the necessary resources to do so. Founded in 2000, E-Cell, IIT Bombay, is now the biggest Entrepreneurship Supporting Body in India in terms of budget and success.

In order to achieve its vision of promoting the spirit of entrepreneurship among the youth, E-Cell has conceptualized activities and initiatives for the average college student as well as experienced young entrepreneurs and working professionals, and has led to more than 25 successful start-ups.

One of their initiatives, which is also the biggest, that caters to people at the transition stage is Eureka!, Asia’s largest business plan competition, in terms of participation and prize money. Eureka! is a 3-stage process, spread over 6 months, and is open to students and working professionals around the globe.

The Entrepreneurship Cell, IIT Bombay has launched its International Business Plan Competition Eureka! 08. In the tenth year since its inception, Eureka! has out-done itself in scale and reach. With prizes over INR 25 Lakh (USD 50,000) and various other incentives, Eureka! ensures opportunities like no other to its participants.

Now, Asia's largest B-Plan Competition, Eureka! has identified itself as a journey, the evolution of the teams from an idea to entrepreneurs. Eureka winners have shown the trend of becoming successful entrepreneurs, with over 20 Eureka! winning entries like Consumer Vision, Idea Forge, Herald Logic, etc., being successful start-ups now.

Incentives of Eureka! 08

The first prize winner takes home Rs. 5 Lakh. The second and third runners-up get Rs. 3 Lakh and Rs. 2 Lakh respectively.

There will be a separate prize category for 'Cleantech'. Two winners will be awarded a total cash prize of Rs. 2 Lakh. Plus, they will be given round-trip air-fares to Carnegie Mellon University at Pittsburgh, to compete in the Sustainable Technology Track of the McGinnis Venture Competition.

Intel is a resource partner at this year's contest and will send the first three finalists to the UC Berkeley Business Plan Competition.

All this besides special student prize and mentoring through various corporate, exposure to VCs, opportunity to pitch to angel investors, like Mumbai Angles, that the process of Eureka! provides the participants.

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