Indian Institute of Technology Madras, Aavishkaar India Micro Venture Capital fund, Tata Consultancy Services, and MIT IDEAS Competition, USA, jointly announce "Genesis", a Business Plan Contest in Social Entrepreneurship that will identify and support innovative business ideas targeted at addressing a social cause.
Winning teams will receive up to Rs 3 lakhs in seed funding to implement their ideas.
The competition is open to all students and working professionals (including NGOs) who have ideas that are innovative, feasible and can benefit society, with the single proviso that 50% of every team that enters this competition should be students. The contest is designed in 3 stages: In Stage 1, registered teams can attend a series of workshops at IIT-Madras on January 13-14, and submit executive summaries of their socially relevant business ideas by Jan 17, 2007. Workshops will provide participants with specific business planning skills as well as general social entrepreneurial insights. Stage 2 would see selected teams refining and developing complete Business Plans. Stage 3 envisions the presentation and evaluation of the final submissions at IIT-Madras, with the finale of awards slated for Feb 26.
The Genesis website - www.genesis.iitm.ac.in contains more information on this competition. Registration and initial submission can be done through the website. The website includes a ‘Collaboration’ section designed to help participants find team-mates with complimentary ideas or skill sets. If you have business-related skills or are interested in crafting a business plan, but do not have a socially relevant idea, you can use the ‘Collaboration’ forum or contact us through the Genesis website. We will then try and connect you with people who have innovative ideas but need help in crafting a business plan.
Genesis will provide those with ideas, or even the beginning of an idea, with assistance in various stages of their project lifecycle. The gamut of facilitation services include the creation of an innovation ecosystem and environment for idea generation, technical mentoring, a forum for collaboration, and project guidance and financial aid including seed capital.
So if you are a budding entrepreneur with social commitment, looking for a channel, collaboration, or mentoring, we urge you to visit the Genesis website and participate in this year’s competition.