The Hindu Business Line : IIM-K business plan contest

THE Indian Institute of Management, Kozhikode, is organising IDEA, a business plan contest, by inviting participation from would-be entrepreneurs, start-ups and other project incubators.

"The uniqueness of this competition is that IDEA will showcase bankable business propositions with an added advantage of possible conversion to actual business ventures," according to an IIM-K press release. IDEA has been conceived and launched by the students of the Entrepreneurship Cell of IIM-K.

According to the event's promoters, a business plan is a master plan for a business model or venture that details the business objective, implementation, resources deployment and value creation, especially for society and consumers.

IDEA offers a total prize money of Rs 2 lakh to the participants. This is one of the highest prize money packets offered by business plan competitions conducted by Indian B-schools today, said IIM-K.

Though participation is open, at least one member of the participating team should be a full-time student of a business management programme from any of the management institutes in the country. The business plan can be either for a commercial or a not-for-profit purpose.

The IDEA Business Plan Contest has been launched in association with Kerala Venture Capital Fund (KVCF).

According to Mr K.A. Joseph, Managing Director, KVCF, the partnership with IIM-K and events like IDEA will bring to the fore the best in innovation and facilitate conversion of business propositions into business ventures.

The organisers hope this event would set a precedent for such open contests in the future and encourage entrepreneurship.

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