Indian Institute of Management, Kozhikode's (IIM K) Entrepreneurship Cell has launched a business plan competition in association with the Indus Entrepreneurs' (TiE) Kerala Chapter. This initiative will provide seed funding to people interested in venturing into business within Kerala.
The objective of the competition is to create an entrepreneurial platform to groom and nurture entrepreneurs by connecting them with mentors and investors. The main aim is to build a culture of entrepreneurship in Kerala. It is a first of its kind initiative that will provide a platform to small entrepreneurs who have business ideas but need assistance to execute it. The participants will be mentored by industry experts, get funding, will be able to network and access resources crucial for their start-ups.
The participants need to first submit a two page executive summary of their business idea based on which they will be short-listed for the second round. The second phase will include a workshop on 'business plan development' at a nominal fee. Then there will be a one-to-one mentoring for improving the selected business. Lastly, the participants will have to make a presentation to the judges or venture capitalists who may provide the seed funding.
Entrepreneurs who have just started off, working professionals or final year students with a business plan are eligible to participate. The main condition is that the venture has to be started within Kerala.