IITB Central Library 2.0 Service

IIT-B mentors to fine-tune budding entrepreneurs skills

Posted on: December 8, 2010

by DNA
A team of aspiring entrepreneurs have devised a business plan, which can prevent collisions between vehicles using electromagnetic repulsion devices, while another team aims to reduce the carbon emissions by capturing them through power plants and industrial utilities.

These two, along with several other budding entrepreneurs from across the country, will get a chance to fine-tune their plans to make them commercially viable, thanks to the mentoring sessions being organised by the IIT Bombay’s Entrepreneurship Cell (E-Cell) for their annual business-plan competition called “Eureka”.

“The top 50 teams will meet their mentors and discuss problems relating to their plans. Experts would gauge participants’ progress, help in streamlining the business models, besides giving them an opportunity to network with leading industry professionals,” said Vishesh Parnerkar, media manager, E-Cell, IIT Bombay. The meet will be held on December 11 and will be divided in two slots.

Maximum number of entries, which have made it to the top 50, are from Bangalore (nine), Mumbai (six), Hyderabad (four) and Chennai and Pune (three each). Two international teams have made it to this level — one from New York and another from Troy, Michigan. Cleantech (eight have been shortlisted) and services sector (seven shortlisted) seem to dominate the top 50 entries this year. The other profiles around which the plans have been drawn up include banking/finance (three), IT-software (three), manufacturing (four), web portals (five) and two each from entertainment and biotech among others.

“This year, for the first time, the teams will get legal consultancy during the mentoring session. After the session, the teams will have to prepare more elaborate plans,” said Parnekar.

The final plans have to be submitted by December 27 and top eight finalists will be declared on January 18. The top eight will have to present their plans on February 6 during “Entrepreneurship Summit” at IIT Bombay.

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