Business Plan Competition 2019

"The distance between a planning and execution is action"

According to Investopedia , “A start-up is a company that is in the first stage of its operations. These companies are often initially bankrolled by their entrepreneurial founders as they attempt to capitalize on developing a product or service for which they believe there is a demand.”

On 23rd April, 2019 the Entrepreneurship Cell of Ram Lal Anand organized the Business Plan Competition in order to pave way for aspiring entrepreneurs and help them to kick-start their start-up. Exclusive opportunities were provided to Ram Lal Anand College students to the execution of their respective ideas with the aid of:

  • Mentorship

  • Seed Funding

  • Incubation

  • Guidance

  • Help to go about the Idea

Mr. Digvijay Singh (COO, Indian Angel Network) obliged us with his presence as our special guest. Indian Angel Network is a group of primarily Indian angel investors funding early-stage startups. The group had 450 members from 11 countries in 2017. The members include Ajai Chowdhry, Rajan Anandan, and Anand Ladsairya. The group has invested in companies, such as PregBuddy and SuperProfs. We had a panel of 5 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 do 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 8 ideas were presented to the panel from amongst sectors like EDUCATION, SERVICE, AGRICULTURE and FOOD.

The competition stretched for 4 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. 

 

Shubham Raj (Computer Science (H), 3rd year) bagged the first prize. His idea was on Virtual Study.

The idea is pretty innovative. The gist of it was that according to his business idea, students can do group study while sitting at home with the use of an app and whatever they would write or speak will instantly be shared with other people. They can share notes as well as write something on a respective note using a stylus. They could also highlight important points.

No matter who won or who lost, every idea was given equal importance and able guidance. 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 they now have a much more smooth 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 did they need to work on. It boosted the confidence level of each and every 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 our principal Dr. Rakesh Kumar Gupta along with other committee members of the E-Cell to join us and make the competition run smoothly and efficiently.

The committee members include:

  1. Dr. Prerna Diwan (Coordinator)

  2. Dr. Sanjay Sharma

  3. Dr. Rita Jain

  4. Dr. Deepti Gupta

  5. Ms. Pooja Gayatri

We were honoured to have Mr. Digvijay Singh (COO, Indian Angel Network) to oblige us with his presence and make it an insightful experience.

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