PUNE: The Entrepreneurship Cell of the Indian Institute of Technology (IIT) Kharagpur is set to present its Annual Global Business Model Competition, Empresario 2018. The competition will be held in association with the International Business Model Competition (IBMC), which is co-hosted by Stanford, Harvard and Brigham University.
Empresario is the official qualifier to IBMC from India. The best entries in all categories will get a sponsored trip and direct entry in the quarter-finals of IBMC 2018, which will be conducted abroad.
“The shortlisted entries are provided immense help in terms of mentorship and the winners also get a much sought after chance to pitch their ideas in front of some of India’s biggest venture capitalists and investors. Empresario participants are mentored and supported by organisations like TiE, NEN (National Entrepreneurship Network) etc. Startup services like legal advice, taxation, financial, technical aspects of running a startup, co-working space, HR needs, incubation opportunities are provided,” cell members stated.
They said that Empresario accepts business ideas in all fields, which include Product and Service, Product Design and Social categories. “Each of the entries get equal opportunity to win the Rs 25 lakh prize and incubation money to the tune of Rs 2.5 crore. Previously, Empresario had been launched in association with Calcutta Angels, Villgro, Indian Angel Network and many more. Entrepreneurship Cell, IIT Kharagpur, is a student organisation established with the aim of fostering the spirit of entrepreneurship among college students in India. We are one of the most successful entrepreneurial organisations in the country with over 60 start-ups incubated within 10 years of our inception,” they stated.
According to them, for the first round of Empresario, the participants have to fill up a questionnaire in brief about their business idea and submit it. “This questionnaire can be found on our website www.ecell-iitkgp.org/empresario. If participants register now, they can avail the Early Bird privileges, which include extended mentoring and offline mentoring session during Entrepreneurship Awareness Drive (EAD) 2017,” they explained.
Listing some of the past student startups, which won at Empresario include Swagene, JANCH Healthcare, Gamezop and others. “Swagene is transforming healthcare by pioneering personalised medicine. If you’re a doctor or patient, you stand to benefit enormously in terms of time, money and precious health. Janch is a mission to provide personalised, high-quality diagnosis solution on an as-needed or preventative basis. Gamezop let’s you play more than 100 games by installing just one app,” they stated.