IIM-B to organize business plan contest for budding entrepreneurs from top business schools and engineering institutes across the country.
IIM Bangalore (IIM-B) has announced that they are organizing a business plan contest for budding entrepreneurs from top business schools and engineering institutes across the country, where angel investors will be funding aspiring student entrepreneurs, as reported by Economic Times.
IIM-B's entrepreneurship and incubation centre, NS Raghavan Centre for Entrepreneurial Learning (NSRCEL), which is supporting the contest, is for the first time organising a 'Shark Tank' for aspiring entrepreneurs, where they are inviting angel investors to fund student business plans, G Sabarinathan, chairperson, NSRCEL told ET.
Earlier this year, the institute had invited business pitches from students from top institutions such as Indian School of Business - Hyderabad, MDI - Gurgaon, Symbiosis Institute of Management Studies, Delhi College of Engineering, Institute of Rural Management - Anand, Xavier Institute Of Management -Bhubaneswar, among others.
The report further stated that the top ten pitches will get funding from the 'Shark Tank' investors while the top two teams will additionally get funded by Indian Angels Network and Mumbai Angels, who are supporting the contest, and will get rent free incubation support from NSRCEL for one year.
"NSRCEL is impressed by the mature enthusiasm of the students who are managing Bzzwings. It is also consistent with the NSRCEL philosophy of encouraging the creation of high-potential start ups," says Sabarinathan.