India Innovation Championship(IIC) 2021

Punjab

About the IIC challenge:

Throughout India, we are looking to drive entrepreneurship and accelerate promising Research, Innovation, Demonstration and Development (RID&D) in technology. A pan India opportunity for innovators and thinkers to compete in a grand event backed by angel investments; the event aims to mentor new ventures by fast tracking impact savvy innovations.

Purpose:

To identify innovators who can build commercial ventures for a better India. The event is in alignment with the UN Sustainable Development Goals (SDG). The goals will help to create promising Startups and a better world to live in.
Backed by angel investor funds, government grants and cash prize from Chitkara University, this platform will identify problem statements and give birth to new innovations and innovative solutions. The infusion of funds at an early stage will help rocket start the new startup.

Eligibility:

The Championship is open to innovators, entrepreneurs, designers, thinkers, students, engineers, scientists, coders, trainers, academicians from any background.

Prizes:

  • Angel Investors fund worth INR Rs 4000000/- from Orbit Future Academy and their Angel Investors network.
    INR Rs 10 lakh cash prize from Chitkara University to be distributed among top three innovations selected by the jury.
  • Government Grants (MeitY, Newgen IEDC & Startup Himachal) for Prototyping and Venture commercialization upto INR Rs 50 lakhs.
  • Selected Top 25 innovative ideas to be given Scholarship for a 3 week signature Accelerator program run by Chandigarh Angels Network. (Date: Batch to Start Post event).
  • Top 5 ideas from the CAN accelerator program to pitch for angel investment in a special session hosted for IIC 2021 in front of 40 angel investors of Chandigarh Angels Network. (Date: TBD)
  • 12 months structured incubation and mentoring program offered by CEED, Chitkara University.

Process Flow:

  • Application opens: 25th December, 2020
  • Application Closes: 21st February, 2021
  • Grand Finale: 15th April, 2021(The Finale could be a physical event hosted at Chitkara University depending upon COVID-19 Situation)

Link to Apply:
https://docs.google.com/forms/d/e/1FAIpQLSeJvxXuonTVNSDi0VmXCyBfsbI7GFrxxGtEwFeB7GJ1fS7wIg/viewform

Roadmap of 12 Months Structured Incubation cum Mentoring Plan from the shortlisted startups by CEED, Centre for Entrepreneurship Education and Development.

  • Ground report & deeper validation of the idea.
  • Customer & market surveys.
  • Reassessing the problem statement.
  • Appointment of the dedicated mentor to the team.
  • Building of POC & prototype.
  • Defining the sales pitch & curating the team.
  • Founders agreement.
  • Branding and communication for market.
  • Formal company formation and compliance.
  • Prototype testing, validation and market response.
  • Making the first sale and accumulating customers.
  • Financial management & book keeping.
  • Formal launch & commercialization.

In Exclusive association and curated by:

 

Supporting  Partners: