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IIT-Kharagpur opens global business model contest

By : PANIIT |October 08, 2014 |Michigan IIT Alumni Association

 

IIT-Kharagpur opens global business model contest

NAGPUR: IIT-Kharagpur has invited entries for the eight edition of its annual global business model competition, Empresario ’15. The contest is open to students from across the world and the last date for submission is October 20. Last year, Nagpur was one of the 11 cities that generated lots of interest in Empresario, according to a press release sent by IIT-Kharagpur. Once again, the prestigious institute is looking to get budding entrepreneurs from Nagpur to participate in their programme. Since its inception this platform has incubated over 50 start-ups which have received steady funding.


Rajat Verma, associate member of IIT-Kharagpur’s Entrepreneurship Cell, said, “We are playing a vital role in developing the upcoming start-ups into successful companies by taking a great initiative of conducting flagship competition Empresario. Founders go wrong when they start to believe that their business plan will materialize as written. As any seasoned entrepreneur and investor will tell you, the reality of the market will always be different. The direst of consequences follow when the start-up fails. Hence, we need to have a more dynamic methodology for entrepreneurship than static business plans.”

Verma added business ideas in all fields ranging from product and service, product design to social get equal opportunity to win the prize and incubation money to the tune of Rs2.5 crore.

In the first round, participants will have to fill up a questionnaire about their business idea and submit it. This questionnaire has been uploaded on .

 

Source:  TimesofIndia.com

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