The Indian Institute of Management (IIM) Calcutta Innovation Park (IIMCIP) has aligned with the government’s ‘Startup India’ initiative to launch ‘Smart 50 Solutions’ to Transform India. The aim is to make path for socio-economic development through innovation and entrepreneurship.
IIMCIP’s Objectives
1. To promote entrepreneurship and create a nurturing ecosystem where fledgling enterprises with innovative ideas and solutions can flourish
2. To promote innovation in research and business through industry-academia partnership
3. Businesses from Singapore and north America will also be looped in for the initiative
4. The international drive planned with the government’s Department of Science and Technology (DST) will identify, recognise and reward aspiring and early-stage entrepreneurs from various sectors
About the Initiative
— Startup kits will be provided to about 3,000 selected volunteers
–Volunteers will attend knowledge sessions, and among them, 400 will be selected for mentoring, funding and incubation opportunities
–Participants will present solutions that are SMART (sustainable, motivating, affordable, responsible and transformative)
–Entrepreneurs and innovators will through the platform be able to network strategically and access seed funding
–Mentored by IIMCIP experts on various aspects of business model, fund raising, and real-life lessons
Details of the event:
1) 40 SMART solutions will be selected from the regional or quarter final rounds (quarter-finals) and up to 10 SMART solutions will be selected from international rounds (Singapore, North America)
2) The SMART 50 will then attend a boot camp at the IIM Calcutta Campus
3) Ten participants will then compete for the grand finale which will be conducted in Delhi
4) The top three winning ideas will be rewarded by the jury
5) The top 50 entrepreneurs will get seed grants of Rs 4 lakh each and the top 10 entrepreneurs will pitch for a total funding of Rs10 crore
