11012020 Noida, B. K Birla Global Innovation Challenge 2020:
- Birla Global Innovation Challenge 2020
- StartUps in Agriculture, Technology, Energy & Education domains
- Prizes worth INR 8.6 Cr
- Last Date of submission for Proposal Round: 15 January 2020
- Finale: 22 February 2020
Birla Institute of Management Technology (BIMTECH) has been a pioneer in nourishing the StartUp ecosystem in the NCR region. The Program to encourage StartUp culture on the campus is divided into three parts KHOJ (where Ideas are shaped), GURUKUL (where ideas become StartUps and UDAAN (where StartUps are scaling up to reach greater heights).
True to its founder’s vision, Birla group of companies, the institution had been fostering ethical leaders with entrepreneurial mindsets, ever since inception. Another innovative initiative from BIMTECH along with Atal Incubation Centre is a Innovation competition with endless benefits to participants.
The official press release stated, ‘Birla Institute of Management Technology along with Atal Incubation Centre – BIMTECH is organizing the Birla Global Innovation Challenge 2020 (BGIC 2020), an international global innovation challenge in the loving memory of Late Shri B.K Birla.
The Challenge endeavours to develop the innovative culture and find promising innovations, creating an ecosystem for innovation and entrepreneurship – encouraging sustainable, scalable and measurable enterprises.
BGIC 2020 invites innovators who have an early-stage innovative venture (not older than three years), or a promising innovation with a plan that could create sustainable impact in India. Also, the innovation is required to demonstrate significant impact through results or proof of concept.
Fiscal Incentives: The top 3 winners of the competition will win cash prizes of INR 10,00,000 (Winner: INR 5.00,000 | Runner-up: INR 3,00,000 | Second Runner-up: INR 2,00,000)
Non-Fiscal Incentives: All the finalists will be extended support services, which Atal Incubation Centre- BIMTECH provides to its incubatees.
For more details visit: https://www.aicbimtech.com/BGIC2020/ …Application is still Open
Supports: All the finalists will be extended support services, which Atal Incubation Centre- BIMTECH provides to its incubatees worth INR 8.25 Cr. These include:
– Free credits for Digital Ocean, Amazon Web Services, Superb Services Cloud and Zoho One
– Google: Free Credits on Google Cloud Platform and G Suite
– F6S: Alpha Card of the total price value of USD 1,000,000
– PayU: Free transaction credits
– MSG91: Free 50,000 SMS per month for 6 months
– Solidworks: Free license for a year
– Mentorship: 3-week mentorship support provided to all short-listed teams. (Pre-incubation)
Funding Opportunity: All teams shortlisted for the semi-finals and finals will have an opportunity to pitch to India’s largest VCs for seed funding.
Additional Opportunities: All the finalists will be provided many parallel platforms in the partner network of Atal Incubation Centre- BIMTECH for pitching their innovation.
Eligibility Criteria: To be eligible to apply and participate, all teams must meet the following criteria:
- The team can be represented in the competition by a maximum of two members.
- There is no restriction on the age or background for applicants.
- If the submission is an idea, a proof of concept (e.g. prototype) is required.
- If the submission is a venture, the venture must not have been in existence for more than three years.
- The entries received will be recognized by the “name” of the venture/idea.
- The applicants may or may not be Indian Nationals; however, the venture should be aimed at creating an impact in India.
Business plans for the competition will be invited for all sectors including the above-mentioned focus areas: Agriculture, Technology, Energy & Education.
Stages: BGIC 2020 has four stages:
- Proposal Round: Register by filling in the details asked about your innovation.
- Pitch Deck Round: The shortlisted innovators will be asked to share their pitch deck (Max. 10 slides), to share their innovation in detail.
- One-on-one: The selected candidates will be engaged in a video call to discuss their innovation, for further clarification and to choose the finalists.
The Grand Finale: A maximum of twelve teams will be selected for the Grand Finale and will pitch to a panel of esteemed judges, consisting of Business Leaders, CEOs / Founders of VCs and renowned Innovators and Entrepreneurs.
Judging Criteria: The Judges will review and evaluate the Impact Proposals of all the teams using the following criteria:
- The Business Model
- Innovation and uniqueness offered by the business model
- Clarity of the business model
- Financial feasibility of the business model
- Scalability of the business model
- Feasibility of implementation plan
- Clarity of vision, social and financial objectives
- Quality of the management team
Some Important Dates:
Last Date of submission for Proposal Round: 15 January 2020
Finale: 22 February 2020’
Irrespective of regions apply for the BGIC2020 competition and if you are lucky there are several rare benefits attached to the program. Way2World wishes all the applicants a grand performance.
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