The Hatch, an accelerator, a multi-city incubator, and a pre-seed stage fund for high-potential start-ups in India, today announced a program to assist Entrepreneurship Cells (e-cells) in colleges to manage their business plan competitions more effectively. The goal of the program is to provide value not just to the winners and finalists of college business plan competitions, but to provide structured feedback and mentoring support to all deserving participants.“A typical business plan competition in a college receives over a 100 entries. From these, only 2-3 winners get some prizes or benefits. However, from among the rest of the entries, there are quite a few whose business plans are raw, but have an underlying potential that can be sharpened through structured feedback, advice and active mentoring. This custom program from The Hatch will help more entrepreneurs convert their ideas into businesses,” said Puneet Vatsayan, Chairman & Co-Founder – The Hatch.
The Hatch will work closely with members of e-cells and will provide on-going and deep-engaged mentoring to all participants, not just to the winning few. The Hatch will mentor all deserving businesses. To make e-cell business plan contests more efficient, The Hatch will also share its business plan presentation templates, processes and parameters for evaluating business plans.
The program will be supported through various initiatives from The Hatch including Collaborative Virtual Learning Programs, Start-up Accelerator and Business Incubation at physical office spaces. The Hatch Institute and The Hatch Virtual Learning Centre are comprehensive knowledge resource platforms for entrepreneurs. The Hatch, through The Hatch Fund could provide pre-seed stage funding for deserving teams.
Commenting on this development, Puneet said, “At The Hatch we firmly believe that a business plan competition is not a beauty pageant where 2-3 ‘winners’ are selected. We believe that many raw ideas can become high-potential startups if they are provided with the right feedback, advice and active mentoring.”
He also added, “Our intent is to make college business plan competitions more effective through our processes, templates and experience of conducting & assisting e-cells across prestigious educational institutions.”
The Hatch is a non-profit organisation and all support is provided without any charge.