Eureka! is an international Business plan competition organized by the Entrepreneurship Cell of IITBombay. With a total prize money of INR 24 Lakhs, Eureka! has been recognized as Asia’s largest Business Plan Competition by CNN and Thomson Reuters. Over the years, Eureka! ’s unique format which includes one-to-one mentoring and a transparent judging process has become a model for similar competitions held in India and elsewhere.
Eureka!, seeks to provide a platform for potential ideas and early stage start-ups to evaluate their plan in the risk- free environment of a competition. It also aims to bridge the gap between ideas and the realization of an enterprise.
Incentives in Eureka! 2011
The winners of Eureka! 2011 got an opportunity to participate at E-Bootcamp organized by BASES, Stanford University. The top 3 winners of Eureka! Social directly advanced into the DSIC semi-final round, organized jointly by the University of Texas at Austin and Dell.
This year Eureka!, which would launch on 2nd September is all set to break all records and offer total prizes worth over INR 4 million.
The winners of Eureka! 2012 would be provided office spaces worth INR 4.5 Lakh by Regus. Eureka! Business finalists would be given consultancy services worth INR 5 Lakhs. Financial, Legal, IP, PR, HR and Business Scaling Up consultacy would be provided by esteemed consultants like activitas management advisors Pvt. Ltd. (Financial), Euphoria consulting Pvt. Ltd (HR) and Brain League (IP Services).
The winning entry of Eureka (Business) gets a cash Prizes of INR 5 Lakhs and 3 Lakhs for first runners up. For Eureka! Social, The winning entry gets a cash Prizes of INR 1 Lakh and INR 50,000 for first runners up. Further the entry with best Technology would be awarded with Technology and Sustainable Prize worth INR 3 Lakhs [IIT Bombay Class of 1985 prize for best entry in Technology and Suistanable Development’ (INR 3 Lakhs)]. Further all winning entries would get an opportunity to secure angel funding ( Mumbai Angels, Indian Angel Network, Seedfund) besides mentoring by seasoned entrepreneurs and leading corporates. They would also get an opportunity to get incubation at Morpheus
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Source:http://ecell.in/eureka/ and Rohit Ghosh
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