The Hyderabad Karnataka Chamber of Commerce and Industries (HKCCI) has invited applications for IPreneurs-2019, where young and technology-driven aspirants who have innovative ideas to start their own business can participate.
HKCCI president Amarnath C. Patil addressing a press conference in Kalaburagi on Monday said that IPreneurs-2019 is aimed at encouraging young minds across eight districts — Kalaburagi, Bidar, Raichur, Yadgir, Ballari, Koppal, Bagalkot and Vijayapura — to develop entrepreneurial spirit. The vision of HKCCI and IPreneurs-2019 is to try and build a sustainable and long-lasting bridge between both start-up ecosystems and investors.
Mr. Patil said that HKCCI has signed memorandums of understanding with 30 educational institutions, including Central University and Gulbarga University, in the region. “The competition is not only open to students from these institutions but also those from other colleges who have fire in them to do innovative things,” he added.
Kishor Jagirdar, Chief Managing Director of Management Pvt. Ltd., and Meenakshee Patil, Advisory Board member and Head of the Emerging Technologies IGNITE IBM, said that the potential ideas presented by the applicants during the competition will be mentored by industrial specialists and incubated by ISETILAB Incubator Foundation and Vision Karnataka Foundation.
Mr. Jagirdar said that India is projected to have a surplus of 47 million skilled labour, especially youths, by 2020. To avoid growing unemployment, India needs labour-intensive and labour-friendly industries. INFOPACE will help entrepreneurs create marketing tools and branding products.
Entrepreneurs meeting the investment criteria as per the regulatory compliance to start their business will be eligible upon qualifying a seed fund of ₹ 25 lakh. Multi-national companies would come forward for support via Corporate Social Responsibility (CSR) funding or through fellowship for those start-ups that are in the space of social entrepreneurship in areas such as health, food, water, waste management, environment and ideas related to any Geographical Indicators (GI) which are women-centric entrepreneurship.
Mr. Patil said that application for start-ups ideas is open from July 15 to August 22. On August 29, applicants would give a presentation about the business idea before an expert team. A workshop will be held on August 30 for scrutinising the ideas and a revised submission of the business plan will be conducted on September 12. The final selection of the business plan will be held on September 28. The participant with the best innovative idea will be awarded a a cash prize of ₹ 3 lakh.
Interested candidates can e-mail their business plan synopsis to: email@example.com after paying a registration fee of ₹ 200.