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Eligibility Criteria - Eureka! 2011

Basic Eligibility Criteria:

  1. Students (Undergraduates and Graduates) and Working Professionals across the world are eligible to participate.
  2. Individual participation is allowed in the Competition though participation in teams (maximum to 7) is encouraged.
  3. Though it must be noted that teams who have registered their company/startup before the span of last one year (i.e on or before 31st august 2010), are not eligible to participate in Eureka! 2011.)
  4. Entries must be the original work of entrants i.e team members competing must be the principle owners of the venture

EUREKA! SOCIAL

  1. Students (Undergraduates and Graduates) and Working Professionals from across the world are eligible to participate.
  2. Individual participation is allowed in the Competition though participation in teams (maximum to 7) is encouraged.
  3. Though it must be noted that teams who have registered their company/startup before the span of last two year (i.e on or before 31st august 2010), are not eligible to participate in Eureka! 2011.
  4. The plan should solve a critical social problem in an innovative, transformational way.
  5. The mission and practices of the venture must focus on quantifiable social return.
  6. The venture must be for-profit and financially viable; non-profit entries will not be accepted.
  7. Entries must be the original work of entrants i.e team members competing must be the principle owners of the venture.
  8. Winners advancing into the semi finals of Dell Social Innovation Competition must be a student entry and should abide by the following eligibility criteria : http://www.dellsocialinnovationcompetition.com/Eligibility
  9. Entries eligible for funding opportunities by Grameen Creative Lab should fall under the criteria of Social Business as defined by the organisation http://www.grameencreativelab.com/a-concept-to-eradicate-poverty/7-principles.html
  10. Enteries eligible for incubation opportunities at UnLtd India should abide by the eligibility criteria as defined by the UnLtd India. Visit http://www.unltdindia.org for more details.
  11. Enteries eligible for incubation opportunities at Villgro should abide by the eligibility criteria as defined by the Villgro .Visit : http://www.villgro.org for more details.

Technology and Sustainability Development Award

(An initiative by IIT Bombay Class of 1985)

  1. The Team should provide an innovative solution to a critical problem in an under-developed emerging market.
  2. The technological product should benefit the underprivileged communities and affordable too.
  3. It should be a superior approach compared to a present solution (if it exists) ; in solving the same business problem.
  4. The product should be sustainable in long term financially and has direct benefits to the lower sections of the society.

Best IIT Bombay Entry Award

(An initiative by IIT Bombay Class of 1985)

  1. A/The member/members of the student team (IIT students )should be CEO, COO, or President of the venture, or should occupy 50% or more of the functional area management positions that report directly to the CEO, COO, or President.
  2. The final decision rests upon the judges ( '85 batch alumni ) and thus the participating team should also satisfy any other criteria as and when put forward by them.
    In the final stage Eureka!, teams are required to describe what the probable leadership structure of the team will be if the B-Plan is converted into a start-up.

Note: Starting up while using the resources of the Institute is not permitted under the current rules.