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ABOUT THE COMPETITION

Know your track


  • Products & Services Track :
  • A Business Model that is function oriented and is aimed at providing sustainability of both consumption and production. Ideas/Prototypes based on meeting diverse consumer requirements or providing an innovative service.
  • Social Track :
  • A Business Model that focuses on adding value to the people at the bottom of the pyramid and/or help building a greener tomorrow. Empresario's very own track for enterprises that have a positive social or environmental impact.

Structure


  • 1. Online Form Submission: The team needs to register on the Empresario website and authenticate their account using Code sent to the email-id specified. After that a team can log into their account and fill the form online.
  • 2. Early Bird:Additional incentives include extended online mentorship and a face-to-face mentoring session for shortlisted entries.
  • 3. Preliminary Evaluation:After the early bird registrations are over, we will transfer the entries to our mentor pool, which includes professionals from various fields, including Fintech and Agriculture. The mentors will give their opinion and comments on the entries, which will help the participants to brush up their business models and improve the startups itself.
  • 4. Mentorship: Mentoring will be provided to the shortlisted teams. The participants are required to make optimum utilization of the mentoring process so as to create an appropriately refined Business Model.
  • 5. Final Submission:After Mentoring, the teams have to submit their final Business Model in a prescribed format. Visit this link to know "How to prepare a submission"
  • 6. Grand Finale:The final shortlisted teams will present their final Business Model in front of the judging panel at IIT Kharagpur during the Global Entrepreneurship Summit 2018.

Prizes


  • 1. Winners & Runner-up of Products & Services Track
  • 2. Winners & Runner-up of Social Track
  • 3. Best Innovative Product (Product Design)
  • 4. Best IIT Kharagpur Entry

WHAT'S EARLY BIRD?

  • An oft-quoted term from venture capitalists is that, "As soon as the business plan is written, it is obsolete." Too often, teams focus on writing a business plan and never actually interact with their target customers. We believe that early on, the start-up must move quickly to prototype and test their product or service and that customer interaction is critical. Successful new ventures do not go to market with their first idea; instead, the product/ service has usually gone through several iterations before arriving at the final version.
  • Since Empresario is one of the few Business Model Competitions in India, we understand that our participants require assistance to generate their business model. Having the support and guidance of a mentor can be of great value to any start-up.Be it mobile technologies, social startups or even the Internet of Things, we have a pool of experienced mentors ready to assist early stage startups. We have mentors from TiE, NEN, Villgro and Totalstart just to name a few.

EMPRESARIO 2k18 TIMELINE

RULES AND ELIGIBILITY

  • 1. A team may consist of minimum 1 or maximum 5 members.
  • 2. Ventures cannot be a buyout, an expansion of an existing company, a real estate syndication, a tax shelter, a franchise, a licensing agreement for distribution in a different geographical area, or a spin-out from an existing corporation.
  • 3. There is no restriction on any individual to participate. Anyone, from students to working professionals across the world with an idea,a product or service or even an operating startup, can participate.

TERMS AND CONDITIONS

By registering for this competition, it shall be deemed that each individual of the participating team has agreed to be bound by the following terms and conditions:

  • 1. By registering to participate in Empresario, each participating team agree to allow Entrepreneurship Cell, IIT Kharagpur to use their names, images and information regarding the team's business, and prize information in publicity and marketing efforts throughout the world. Each participating team must agree to accept that their registration form and other entries will not be returned to them, and accept that their personal data will be available for information and statistical purposes.
  • 2. The participating team represents that Intellectual Property in the Business Plan does not infringe upon the intellectual property or any other legal or moral right of any person or entity.
  • 3. Entrepreneurship Cell, IIT kharagpur reserves the right to disqualify or prohibit from participating in Empresario any team that makes a submission that, in the sole discretion of Entrepreneurship Cell, IIT Kharagpur does not confirm with the Eligibility Criteria or does not comply with these Terms & Conditions and/ or the Competition Rules.
  • 4. By entering the Competition, each team and its individual members agree to accept as final any decisions of The Entrepreneurship Cell, IIT Kharagpur including determination of the winners of Empresario.
  • 5. Entrepreneurship Cell, IIT Kharagpur shall have the discretion to initiate appropriate action against participating teams including individuals of such participating teams in case of any losses or damages arising from violation of the Eligibility Criteria, Competition Rules and the Terms & Conditions.

FREQUENTLY ASKED QUESTIONS

  • 1. Is there any registration fee for Empresario?
    No, there is no registration fee to participate in Empresario.
  • 2. Who can participate in Empresario?
    There is no restriction on any individual to participate. Anyone, from students to working professionals across the world with an idea,a product or service or even an operating startup, can participate.
  • 3. Can a team enter under both categories Social as well as Products and Services track?
    No, you can't enter both categories with the same B-model. But, you can always apply for the other track with a different B-model.
  • 4. What should one do if he/she has two different B-models?
    In that case, you need to register with two different mail-ids.
  • 5. How is the confidentiality of the B-model maintained?
    The entries are judged by reputed faculty, established entrepreneurs and industrialists who believe in promoting entrepreneurship and looking at B-Models is a routine affair for them. Your entry is viewed only by the judges. The final pitching happens in a closed room and only the team members and the judges will be present during the presentation. Not even the organizing committee is permitted to view the b-model.
  • 6. Are additional documents required along with the form in the first round?
    No, it is entirely upto you to submit the documents. It won't affect the judging in any way.
  • 7. How is the B-model judged?
    Business model canvas, innovation, model validation, competitive advantage and the volume of the problem being solved are the major criteria under which a B-model is judged.
  • 8. When will the offline mentoring session for the early bird semifinalists be held?
    The early bird semifinalists would get the benefit of online mentoring (upto 3 months) and one to one mentor meet that will be held during Entrepreneurship Awareness Drive at nearby city.
  • 9. How does the online mentoring for the semi finalists work?
    Mentors would play an important role in improving their b model and help them refine it. They would be providing proper suggestions,content rich feedback and assistance for the final pitching.
  • 10. Are the teams required to come to IIT Kharagpur to take part in the event?
    No, Empresario is an online competition consisting of 3 rounds and only the final round will be held at IIT Kharagpur.
  • 11. Can a person be part of two or more teams?
    Yes, one person is allowed to be a part of more than one team.

Declaration of Semi-finalist in (Early Bird):

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