Training and Business Plan Competition Catalyzes the Development of Entrepreneurship in India
Bangalore, July 05, 2012: The Nadathur S Raghavan Centre for Entrepreneurial Learning (NSRCEL) at the Indian Institute of Management Bangalore (IIMB) yesterday announced the winners of Next Big Idea 2012, an integrated entrepreneur training and business plan competition. The Next Big Idea is sponsored by the National Science & Technology Entrepreneurship Development Board (NSTEDB) under the aegis of the Department of Science & Technology, Government of India as well as Intel.
The winning teams of the NBI 2012 are:
Winners: Greenway Grameen Infra comprising of Ms Neha Juneja and Mr. Ankit Mathur, whose submission relating to cost and energy efficient bio-mass fired stoves for rural use won the first position, which includes a cash award of INR 150,000 and a certificate. The team will also participate in the Global Challenge to be held in Berkeley in November 2012, all expenses covered by the generous grant from Intel and DST.
Runner-Up: Link Smart, comprising of Mr. Shirish Goyal and Mr. Ashish Anand, whose idea of delivering scalable solutions for mass markets in the domain of security with an emphasis on insider threat protection captured the second position, which includes a cash award of INR 100,000 and a certificate. The team will also participate in the Global Challenge.
Third Place: Red Force Labs comprising of Mr. Mohan Sundaram and Mr. Yash K S, bagged the third position, which includes a cash award of INR 75,000 and a certificate. Red Force Labs is an online security research and product company focused on bringing to market solutions that help verify identities and transactions reliably from any computing device, be it owned or shared.
The winning teams received their awards from Mr. N S Raghavan, Co-Founder of Infosys and Member of the NSRCEL Academic Committee.
In addition, the top five teams, including the winners will receive Mentoring Support from NSRCEL, get access to possible incubation at NRSCEL, and become part of the NSRCEL Ecosystem
According to Professor Pankaj Chandra, Director, IIM Bangalore, "The winners of the NBI 2012 were arrived at from a starting pool of over 5000 ideas from the Champion of Champion category and 300-plus from the Open Challenge segment. These initial entries were shortlisted to around 160 ideas. In the next stage this was reduced to 30 semi-finalists. Over the course of the last three days, an eminent panel of judges brought this down to 10 and then finally arrived at the top three winning ideas."
Speaking on the sidelines of the NBI 2012 Grand Final event, Mr. Harkesh Mittal, Secretary of the National Science and Technology Development Entrepreneurship Board, Department of Science & Technology, Government of India, said, "We are delighted with the results of this year's competition. The objective of The Next Big Idea is to build capacity in academic institutions that conduct business plan competitions thereby helping in bettering the quality of business ideas originated from there. We believe this objective has been achieved."
Dr. Anjan Ghosh, Regional Director, Corporate Affairs (Asia-Pacific), Intel stated, "Next Big Idea is a good example of Intel's strong commitment in promoting entrepreneurship across the globe. The differentiating factor of the NBI-IIMB programme is the fact that the shortlisted teams received structured training and inputs to help them develop their ideas and present them to the judges in a superior manner. Our congratulations to all the teams."
The panel of judges in the final rounds were M/s Anil Valluri,, Bikramjit Sarma, B V Jagadeesh, Professor Chirantan Chatterjee, Mahendran Balachandran, Nagaraja Prakasam, Parag Dhol, Professor Ramesh Venkateswaran, Soumil Majumdar, Professor Venky Panchapagesan and Vipul Parekh.
The Next Big Idea aims to encourage innovation and create a structured business plan process for leading academic institutions across the country so that the innovative ideas born through at institutions are taken forward to become real businesses, The programme also aims to create a platform where any individual or team can showcase their innovative ideas and seek mentoring, access to incubation and angel funds to help them create a real business.
More information on The Next Big Idea is available at http://nextbigidea.in/
The Centre for Entrepreneurial Studies was set up by IIMB in 1994 with a grant from Canara Bank to provide learning and knowledge resources to Small & Medium Enterprises (SMEs), and to offer courses on Entrepreneurship and conduct research in related areas. A generous endowment from Mr. Nadathur S Raghavan, former Joint Managing Director of Infosys Technologies Ltd in October 1999 provided the impetus for further growth of the Centre. Now known as the Nadathur S Raghavan Centre for Entrepreneurial Learning, the Centre aims to be a world-class Centre of Excellence for seeding, nurturing and promoting entrepreneurship. The activities of NSRCEL are varied, and encompass teaching, research, short-term programmes, seminar/panel discussions, incubation and other activities to support development of entrepreneurship and entrepreneurs.
More information on NSRCEL is available at http://www.nsrcel.org/
Established in 1972, the Indian Institute of Management Bangalore (IIMB) today offers a range of post-graduate and doctoral level courses as well as executive education programmes. IIMB Centres of Excellence are engaged in adding value to their communities in the areas of Public Policy, Capital Markets & Financial Management, Corporate Governance, Entrepreneurship, Public Policy, Software and Supply Chain Management, to name a few. In June 2010 IIMB obtained the European Quality Improvement System (EQUIS) accreditation awarded by the European Foundation for Management Development (EFMD). With a faculty body from amongst the best universities worldwide, IIMB is a leader in the area of management research, education and consulting.