Today’s role models, tomorrow’s leaders:
IIT Bombay students encouraging entrepreneurship all over the country
The Entrepreneurship Cell, IIT Bombay (E-Cell) firmly believe that emerging economies like India need the drive and innovation of young entrepreneurs. E-Cell has initiatives for promoting entrepreneurship in the campus of IIT Bombay (E-Garage) and also throughout the country in the form of Eureka!, its annual B-Plan competition.
The Cell not only motivates the youth towards Entrepreneurship, but also makes efforts to provide them with the necessary resources to do so. Founded in 2000, E-Cell has seen substantial growth and has been recognised as the “Leading Entrepreneurship Promoting Student Organisation in the country”, by the National Entrepreneurship Network.
The E-Cell caters to people at four basic stages of entrepreneurship:
- Running Business Model
- Transition from plan to model
- Idea stage
- Realization of the spirit of entrepreneurship.
Eureka! is the International Business plan competition organized by the Entrepreneurship Cell of IIT Bombay. It aims to create value in the ecosystem as per its belief that entrepreneurs are the ones who will take India and the world to the next level.With over 2000 entries, three rounds of judging and intensive mentoring, consultancy services and prizes worth over Rs. 21,00,000/- , Eureka! is Asia's Largest B-plan competition.
As a competition, Eureka! has seen considerable growth over the years, both in terms of number of participants as well as the incentives to them. In fact, Eureka! has been declared as "Asia's largest business plan competition" by Thomson Reuters, in 2010.
Eureka! Success Stories
Presently in its 13th edition, Eureka! has been the stepping stone for more than 40 successful start-ups, some of which have gone on to become multi-million dollar enterprises.
- eInfinitus Technologies: Winners of Eureka 2001, eInfinitus Technologies is a research oriented routing technology venture founded by alumnus of the Department of Computer Science and Engineering at IIT Bombay, India. It received Rs. 1.5 crores in their first round of funding from Sicom Ventures and later sold off to Cisco Systems in a deal reported to be in the range of a whopping Rs. 250,00,00,000/-. For more information go to http://www.einfinitus.com/News/news8.htm
- Gama Entertainment Systems: Winners of Eureka 2007, they received funding of Rs. 50,00,000/- on the day of the finals itself and since then have three very successful products: Mymage: A very novel photo booth product in partnership with Sega, Japan as well as licenses from Disney & UTV, High 5: First ever machine to combine Prize Vending & Ticket Redemption and Cricket 20-20: India's first 20-20 gaming machine.
- Whizlabs: Winners of Eureka! 2003. It has helped over 300,000 people in getting certified and advancing their careers at a whopping success rate of 99.7%. Whizlabs offerings have been endorsed by many distinguished organizations, such as TheServerside.com, JavaLobby, Certcities, and Wrox publications. Whizlabs today is a global leader in Java Certification Exam preparation. (www.whizlabs.com)
- TheraNova: Winners of Eureka 2002, TheraNova are a biomedical device company. Their products Baranova and NovaShunt have managed to raise Series B funding of 7.5 million $ and 25 million $ respectively. A few others have been filed for patents. For more information go to http://www.novashunt.com/ and http://www.roeder-johnson.com/RJDocs/BAallergan1023.html
The Entrepreneurship Summit is a unique initiative by The Entrepreneurship Cell, IIT Bombay, serving as a meeting ground for corporates and young budding entrepreneurs from distinguished institutions across the country. The Meet gives the business community a social forum to interact with the best and most promising student teams from colleges across the globe, and a chance to meet other entrepreneurial leaders.
E-Summit 2011! Components
- Panel Discussions that feature internationally renowned entrepreneurs and the agenda covers the global entrepreneurial scenario.
- Workshops conducted by the top professionals in the business and who also happen to be immensely popular in corporate events.
- Startup Showcase is an Exhibition of the rising startups in India which is accompanied by a display of the innovative products.
- Mentoring Sessions aimed at the individuals who seek advice from the best in the business.
- The finals of Eureka!, Asia's Largest Business Plan Competition as recognized by CNN.
- Gala Networking Lunch: An opportunity for budding entrepreneurs to interact amongst themselves as well as with various corporates attending the event.
E-Summit! Some Eminent guests of the past
- Mr. S Ramadorai (CEO, Tata Consultancy Services)
- Mr. Subhash Chandra (Chairman and Managing Director, Zee Telefilms Limited)
- Mr. Ajit Balakrishnan (CEO, Rediff.com)
- Mr. Nandan Nilekani (CEO & Founder, Infosys)
- Mr. Mahesh Murthy (Partner, Seedfund)
- Mr. Alok Mittal (Founder, Cannan Partner)
- Mr. Sharad Sharma (CEO, Yahoo! India Research & Development)
- Mr. Adi Godrej (Chairman, Godrej Group)
- Mr. Ashish Gupta (Founder, Helion Ventures)
- Mr. Sandeep Murthy (Founder, Sherpalo)
- Mr. Sandeep Singhal (Founder, Nexus India Capital)
- Mr. R. K. Mishra (Winner, Lead India Campaign)
- Mr. Kiran Majumdar Shaw (CEO, BioCon)
- Mr. Mohanjit Jolly (Venture Partner, Draper Fisher Jurvetson)
- Mr. Ajay Mehta (Chairman, Crossover Advisors)
This Year, the Summit is going to be for 2 days.
EnSpace is a quarterly magazine that caters to the 8000 faculty, staff and students at IIT Bombay's Powai Campus.
It encourages readers to have a different perspective on various events and it aims to instigate a desire for lateral thinking and to take initiative.
It contains interviews with leading entrepreneurs and stories of successful entrepreneurial ventures. The team which writes EnSpace has around fifty able writers who work towards making every issue of EnSpace an insightful experience.
This year shall be EnSpace's first year out of campus to about 10 colleges spread across the whole of Mumbai, mostly B-Schools, so that it can help in their advancement too. It also create a medium of sharing ideas and helping each other, between the management students and the engineering minds.
All this, and much more has been made possible by only a handful set of 23 IIT Bombay students, merely in their third (21 managers) and fourth (2 overall coordinators) year, forming the core team of The Entrepreneurship Cell, IIT Bombay. They have also been mentoring many other Entrepreneurship Cells of various colleges across the country, supporting them and creating an ecosystem to support budding entrepreneurs in the world's largest and fastest growing economy!