Business Plan Competition 2.0

The Entrepreneurship Cell of Ram Lal Anand College organized the second round of Business Plan Competition on 11th November, 2019 as an opportunity to provide all budding entrepreneurs a platform to showcase their talent, and gear up the pace of their entrepreneurial skills.

The Business Plan Competition 2.0 aimed at providing a junction to the budding startup ideas in gaining advice to facilitate a better product/service with effective cogitation, funding and network opportunities. Exclusive opportunities were provided to Ram Lal Anand College students for the execution of their respective ideas with the aid of:

 

  • Mentoship

  • Seed Funding

  • Incubation

  • Guidance

  • Help to go about the Idea

 

Mr. Aishwarya Kachhal (Founder and CEO, qQuick) obliged us with his presence as the judge, for the competition. qQuick is India’s first integrated, shared and connected e-mobility services in Delhi. The services are in operations with Delhi Metro Rail Corporation (DMRC) and licensed by Delhi Government.

 

We had a panel of teachers and our special guest to judge the competition. Participants were guided with some tips to kick-start their start-up like:

 

  • Analysing the problem statement, understanding consumer’s need and entrepreneur’s solution to the problem(s).

  • Identifying target customers.

  • Estimation of potential market size.

  • Identification of proper cost structure.

 

After this, situation-based questions were asked to get to know the students better and to have an idea as to how well they know about it. In order to understand and evaluate the critical thought process of the participants, these Q/A was absolutely imperative. A total of 7 ideas were presented to the panel from sectors like Technology, Health, Education and Food.

 

Aditya Rastogi (B.com (P), 3rd year) bagged the First Prize.

 

The idea was pretty innovative and practical. In a gist, the motive was to fulfill everyone’s printing need, by providing them with the best services and prices, all under one roof. Quality assurance of all the products is to be taken care of, according to the business plan.

 

The competition stretched for 3 hours but we couldn't see any lack of energy or enthusiasm for that matter. And, we take an opportunity here to appreciate the efforts put in by participants not only making the B-Plan competition a massive success but also making it profoundly informative and fruitful.

 

Every idea that was presented, was given equal importance and able guidance, no matter who the winner was. Each idea was judged individually keeping in mind the critical analysis of the sectors towards which the ideas were directed. Everyone who was bold enough to come up and participate in this competition would agree that it has helped them to have a smoother and clearer thought process. This competition not only paved their way to making their dreams a reality but also made them realize where they were lagging behind and what all is needed to be done further, to improve. It had a significant impact on the confidence level of each participant. They were also given their Competition Analysis Report to give them an idea about the industry they were dealing in as to how and what hindrances can come up and how they should tackle them efficiently and effectively.

 

We were lucky to have the committee members of E-Cell to join us and make the competition run smoothly and efficiently.

*Earlier, The best two startup ideas were to be given a cash prize worth 5000 INR. However, due to the participation being less than 10, only 1 participant was declared as the winner and was given the prize.

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