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Business plan competition for students – funding up to Rs. 1 crore

Symbiosis Institute of Business Management (SIBM), Pune, is running Endeavor 2008, a business plan competition (open only to students). So if you are a student with an interesting idea looking to get visibility, guidance, and possibly lots of money, hurry, because the last date to submit entries is 24th August.

Details:

“SIBM Endeavour 2008″ provides a platform for budding entrepreneurs with
viable Business Plans to meet seed funds and venture capitalists through the
“SIBM Endeavour Business Plan” contest. This contest is a 3 month long
business plan contest with 4 rounds. Every participating team can expect to
gain from the contest. Individual mentorship, Elevator Pitch for top 40
b-plans, cash prizes, and above all, funding of upto Rs. 10 Million (from Seed
Fund Advisors Pvt. Ltd.).

Our panelists for this contest are:

  • IndiaCo Ventures Capital Ltd.
  • NEA-IndoUS Venture Capitals
  • SEED FUND Pvt. Ltd.
  • NEN Online

Last date for Executive Summary: 24th August – 2008

Cash Prizes:
1st Prize: Rs. 2,00,000
2nd Prize: Rs. 85,000

For registration: http://www.sibm.edu/endeavour08

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Comments

7 responses to Business plan competition for students – funding up to Rs. 1 crore

  1. Mahendra says:

    1 Crore funding to students !!!! great stuff… Without doubt an awesome opportunity for budding entrepreneurs. and from what i know fist time so much moolah is being given away as prize for an event too… hats off to SIBM

  2. navin says:

    I wouldn’t be so sure Mahendra.

    1. Getting funded too soon might be a bad thing. See, for example, Paul Graham’s thoughts on this issue.

    2. Also, I am very suspicious of weasel words like upto. Even Rs. 1000 can fit the description, up to Rs. 1 crore.

    Rather, I think, the non-monetary benefits, like the visibility, the one-on-one mentoring will be much more valueable.

  3. Team Endeavour says:

    hey navin…jus 2 clarify smthngs….

    1) Ventures Capitals aren’t in da buzines to invst Rs. 1000…If you have a gud business plan give it a shot…u’re b-plan will get its’ worth.

    2) dis b-plan will giv 3 non-monetary benefits:
    ||elevator pitch for the top 40 plans to VC’s ||
    ||one-2-one mentorship for the top 15 plans ||
    ||winning teams will get a chance to present to the core team of ||

    still hv doubts….feel free to contact the organizing team of SIBM Endeavour08 @ bplan@sibm.net

  4. navin says:

    @Team Endeavour, thanks for the clarification.

    The “Rs. 1000″ comment was just an exaggeration to drive home the same point that you made – i.e. it’s not guaranteed that the winner will get Rs. 1 crore – the winner will get whatever funding the VCs think it is worth.

    And my comment was really meant to highlight the fact that those wishing to compete should really be focusing on the non-monetary benefits, which I feel are much more important.

  5. sagar says:

    I think its already late to ask this question but today only I stumbled upon this page – otherwise I would have submitted my business plan till now.

    My question is: I have noticed over and over again that Venture Capitalists are easily influenced by people who are dedicated to their business and have already started it. It would not be wrong to say that Venture Capitalist always ask this particular question to themselves – ‘the business plan is good but is this team of individuals the best people I will get to execute it.’

    I have also confirmed this doubt after not being funded for my business plan by venture capitalists. So I feel it is very unfair that a minimum investment window is not there – for example – there is a very strong possibility that V Cs will not fund any of the plans but will go back home with the plans and greater amount of ideas.

    I have drawn my point across here, kindly now clarify properly rather than circumventing the problem.

  6. navin says:

    Sagar, I am not directly associated with SIBM/Endeavour 2008. So obviously I cannot clarify.

    But here are a few thoughts – in the “circumventing the problem” category :-)

    1. “Being dedicated to business” and “already started” is a minimum requirement. If you don’t fit both these criteria, then there is no way you will get funded. It makes absolutely no sense for a VC to fund someone who is not dedicated to the business and making it succeed.

    2. Team of individuals: Again, the team is much more important than the business plan. The business plan of most startups changes radically in the early stages, sometimes multiple times. The only thing that remains constant is the team.

    3. You will never get a guaranteed investment from a competition like this. Venture Capital is business, and the decision to invest is based on hard business factors. Competitions like this are only a way for VCs to find interesting startups (and vice versa.)

    But, to re-iterate, a competition like this is still valuable, even if you dont get funded. Because you get exposure, and some feedback. See section #6 in this Paul Graham essay for ideas on how to benefit from rejections received from VCs. (In general, Paul Graham invests in and rejects many startups, so it might be useful to read his assays on this topic.)

  7. sagar says:

    Thank you.

    And I must say – you have answered my question because you have cleared the priorities for both the sides.

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