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The Eligibility Criteria as mentioned below is in accordance with the Eligibility Criteria section on pages 5-6 of the Competition Manual.

Eligiblity Criteria


Eureka! - Business Track

  1. Start-ups which have been incorporated more than a year ago (i.e. registered on or before 2nd September 2011) are not eligible to participate in the Business track of Eureka! 2012.
  2. There is no restriction on any individual to participate. Anyone, from students to working professionals across the world, can participate.
  3. Individual participation is allowed in the competition, although participation in teams is encouraged. However, the number of maximum number of members allowed per team is 7.
  4. Ventures that have acquired funding from external investor-networks (angels, VC’s, etc) cannot participate. We believe in promoting start-ups that require assistance in the form of seed capital, mentoring and various types of consultancies.
Note: Teams can be asked to provide proof of the above at any time during the competition cycle.

Eureka! - Social Track

  1. Start-ups which have been incorporated more than two years ago (i.e. registered on or before 2nd September 2010) are not eligible to participate in the Social track of Eureka! 2012.
  2. There is no restriction on any individual to participate. Anyone, from students to working professionals across the world, can participate.
  3. Individual participation is allowed in the competition although participation in teams is encouraged. However, the number of maximum number of members allowed per team is 7.
  4. Ventures that have acquired funding from external investor-networks (angels, VC’s, etc) cannot participate. We believe in promoting start-ups that require assistance in the form of seed capital, mentoring and various types of consultancies.
  5. The plan should solve a critical social and/or environmental problem in an innovative, transformational way.
  6. The mission and practices of the venture must focus on quantifiable social return.
  7. The venture must be for-profit and financially viable; non-profit entries will not be accepted.
Note: Teams can be asked to provide proof of the above at any time during the competition cycle.

Note: A social venture can technically participate in the Business Track as well. But such a move is highly discouraged.

Eligibility Criteria For Special Awards:

In addition to the above criteria, to be eligible for special awards, the teams have to satisfy the following eligibility criteria:

IIT-Bombay B-Plan of The Year Award :
(An initiative by the IIT Bombay Batch of 1985)

  • Each team must comprise a clear majority of IIT-B residents (students, faculty and anybody residing in the campus).
    Example 1- If your team has 4 members, then atleast 2 must be IIT-B residents to be eligible for this award.
    Example 2- If your team has 5 members, then atleast 4 members must be IIT-B residents to be eligible for this award.
  • IIT-B residents must be actively involved in the venture.
  • Prize money will be given as cheques made in the name of team leader, who should be an IIT Bombay student/resident.
  • 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.
Note: To know more about the institute policy of IIT Bombay on intellectual property, visit: http://www.ircc.iitb.ac.in/webnew/ippolicy.html or
http://www.ircc.iitb.ac.in/IRCC-Webpage/ip-policy.jsp
Ventures of IIT Bombay residents should satisfy the norms mentioned in the above policy.

Note: Teams can be asked to provide proof of the above at any time during the competition cycle.

Technology and Sustainable Development Award :
(An initiative by the IIT Bombay Batch of 1985)

  • The team should provide an innovative solution to a critical problem in an under-developed emerging market.
  • The technological product should benefit the underprivileged communities and be affordable too.
  • It should be a superior approach as compared to a present solution (if it exists), in solving the same business problem.
  • The business model should be financially sustainable and have direct benefits to the lower sections of the society.
  • 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.
Note: Teams can be asked to provide proof of the above at any time during the competition cycle.

Eureka! Youth Award:

  • To be eligible for the Eureka! Youth award, all participants of a team should be 26 years of age or below i.e. born on or after 2nd September, 1986.
Note: Teams can be asked to provide proof of the above at any time during the competition cycle.

Note: The criteria mentioned above can be changed anytime without notice.