The Entrepreneurship Cell of IIT Bombay is all set to host its flagship business model competition. Eureka! with its 26th edition in 2023. The Eureka! 2023 competition will offer young startup founders and leaders months of learning, networking, and one-on-one mentoring on the nuances and strategies of building a scalable business .
The event is designed for early-stage entrepreneurs, especially those in the ideation phase, looking for one-on-one mentoring on developing a go-to-market strategy. Eureka! 2023 is presented by Axis Bank, co-presented by WestBridge Capital, in association with Amara Raja ACT, Maruti Suzuki as the Innovation Partner, Powered by Gulf Islamic Investments, Healthcare Partner Emil Pharma, Venture Partner Venture Catalysts and Gold Partner Shiru Startup Café.
The Entrepreneurship Cell of IIT Bombay, Asia’s largest student-run entrepreneurship body, has received patronages from UNESCO, Make in India, Startup India, and Digital India for its contribution to promoting entrepreneurship. It has been serving as a link between various components of the startup ecosystem for the past 25 years.
With over 15,000 entries last year, young entrepreneurs and student-led startups will go through three extensive rounds spread across five months.
The winning startups will win prizes worth over USD 1.2 lakh like AWS credits and free subscriptions to Canva, GitHub, Zendesk, Social Pilot and many more. The investor jury will also have the option of providing additional funding to the featured startups. The best student startup in Eureka! will get an opportunity to secure a sponsored trip to Princeton University, and direct qualification in the finals of Tiger Launch, The prestigious entrepreneurship competition conducted in the USA.
Register Now at: https://www.ecell.in/eureka-mobility/
What’s in it for startups?
The young entrepreneurs and co-founders will go through three extensive rounds spread across five months. The first round will bring on stage mentors to help founders navigate the process of building a sound business model with basics of building a business model canvas. The previous edition saw several industry leaders stepping in as mentors. They included Angel Network’s Kanchi Daiya, StartupBay’s Amit Jain, Tomorrow Capital’s Piyush Surana, and 3i Zone’s Pradeep Rathi, among others.
The shortlisted entrepreneurs will subsequently undergo an intensive mentorship round with workshops focusing on improving and building up the business model and product. At this stage, the founders will be judged based on their idea’s viability and unique value proposition.
Once the finalists are announced, the founders will go through a three-day accelerator programme to prepare them for the last mile of the competition. The final pitch will be held as a part of E-Summit 24, IIT Bombay’s annual business conclave in February 2024. The selected ventures will get a chance to pitch in a closed-door event in front of a panel of industry experts.
Last year’s event included names such as 9 Unicorns’ Rajesh Mane, Venture Catalysts’ Reshma Jhaveri, Swadeshi Handicrafts’ Rahul Baviskar, and Hyper Accelerator’s Douglas Peris, among others, as jury members with live pitching in the IIT Bombay campus on 28 and 29 January, 2023.
The winners of past editions of Eureka! included startups such as BlisCare, Jeevan Lite, SPARC, MyWays, DocEye, Curomates, and AI-Genix. The winning startups also got the opportunity to pitch their business ideas on international grounds at the Indian Pavilion, Dubai EXPO 2020, where BlisCare, DocEye, Curomates, and AIGenx raised spot funding.
Apart from India, Eureka! expanded to six more countries of the GCC region (Bahrain, Qatar, Oman, Kuwait, UAE, and Saudi Arabia). It includes diverse incentives through multiple tracks, a prize money of USD 100,000 to the winners, and an entirely sponsored trip to Dubai for Eureka! GCC finals
