Adarsh Institute of Management and Information Technology (AIMIT) organized a Business Plan Hackathon-2018 on May 26, 2018. This event attracted a phenomenal response from the student fraternity across various prestigious colleges in the city.
The distinctive aspect of this event was that it entailed a training session during the noon followed by a marathon session of business ideation by students. The participants enthusiastically set out at 6 p.m. post the training session conducted by Mr. Gaurav Singh, Regional Manager, National Entrepreneurship Network. They sat overnight over dinner and midnight snacks, cooking up a business plan and eventually wound up at 6 AM in the morning, thus clocking a grueling twelve-hour schedule.
Out of several business plans that were submitted, nearly 9 plans were shortlisted for final presentation. Four groups of budding entrepreneurs from colleges like Dayanand Sagar Institutions, Presidency college, Acharya Bangalore B school and Oxford colleges managed to make it to the final list. Those shortlisted were asked to present their business proposal along with an elevator pitch which entails a short description of an idea, product, company, or oneself that explains the concept in a way such that any listener can understand it in a short period of time.
The final round was judged by a Panel of three Judges, namely Mr. Uday Birji- Co-founder and Director of Think Street Technologies, Mr. Ravindra Babu, Academician and Faculty member at ICFAI Business School and Mr. Gaurav Singh, Regional Manager, NEN.
Mr. Uday Birje shared his thoughts on innovation and the prerequisites to be a successful entrepreneur. He opined that every business idea should have a unique value proposition in order to be successful. He shared some start-up success mantras with students, like the need to identify a good co-founder, test the waters to check out the feasibility, understand the users and never give up.
The grand finale was the announcement of the winners. The first prize – external was bagged by Acharya Bangalore B-School team and the second prize – external was bagged by Presidency College. The in-house participants fared just as well with two teams from AIMIT making it to the finals. The Conquerors which aimed at providing a meaningful forum for the tillers of the soil, won the first prize while the green buddy team won the second prize.
The session was an extremely fruitful one with vital inputs on ideating a B-Plan. The two-day program came to a splendid end.