Chandigarh Administration in collaboration with the Department of Information Technology and the The Indus Entrepreneurs (TiE) will hold a business plan competition — EnterPrize! in newly-constructed Entrepreneur Development Centre (EDC), Chandigarh. The main objective of this competition is to identify and encourage export, IT and technology enterprises in the city.
The top-three teams in the competition will be allocated space at the Entrepreneurship Development Centre, as per government norms, while all participants will get an opportunity to establish contact with investors. The competition will be held in four stages. In the first stage, entrepreneurs would need to register and submit a business proposal, outlining the salient features of their business plans.
The Last date for entries mails it to email@example.com on or before 22nd July, 2009. In second stage, around 30 teams would be short listed and asked to submit a detailed business plan, which would be scrutinized by a selection committee. Ten teams will be selected for the final presentation. In the third stage, the 10 teams will be provided mentorship. Mentors from the investing and entrepreneurial community would be assigned to each team and they would help them with tips and guidelines for their business plans.
In the fourth stage, the 10 teams would make their final presentation to the jury. The winners will be selected by the jury, which would comprise senior administrators, academicians, entrepreneurs and investors. All entrepreneurs, including students of business schools, will be eligible to participate in the competition. The winners will be identified by August 31, 2009 and recognized during e-Revolution 2009, a major IT event in the region. The Software Technology Parks of India (STPI) and Indian Angel Network (IAN) are supporting the competition.
Accroding to Ajay Shrivastava, Centre Head and Joint Director, STPI, Mohali, The business plan competition and setting up of new businesses will lead to increased exports in the region and will give a fillip to the SME industry. Manjit Brar, Director IT, Chandigarh said, “One of the biggest worries of entrepreneurs is how to attract angel or venture capital. And investors find it difficult to identify and reach out to highly-educated and motivated entrepreneurs to get fresh ideas to invest in. The business plan competition will be an ideal platform and meeting ground for them.”