As the COVID-19 pandemic has been affecting our lives in different ways. We cannot just sit and face the problems. It time that we become a part of solutions through our innovation.
Entrepreneurship Development Centre (EDC) with an objective to encourage creativity and innovation and to stay meaningful during pandemic comes up with Online Business Idea Marathon (OBIM).
Theme: Business during Pandemic
COVID-19 pandemic has been affecting the socio-economic dynamics all across the globe leading to economic lockdowns and international border closures. Businesses and key economic activities have been affected severely. This has made the businesses to look for innovative ways to remodel their business models. OBIM-2020 requires participants to generate and pitch business ideas which can sustain during pandemic. In line with the theme, participants can:
• Generate and pitch new business ideas
• Re-model and pitch existing business idea
The idea marathon will be held in two phases.
Phase I: Participants register their team (3 to 5 members) and submit business idea statement and Business Model Canvas to Mr. Dhanapati Sharma, Lecturer and EDC member, GCBS @ dhanapsharma.gcbs@rub.edu.bt by 1st June 2020. EDC teams will shortlist the teams for phase II. The evaluation will be done based on the relevancy of the idea with the theme, and components of Business Model Canvas. Shortlist will be announced by 8th June 2020.
Phase II: Shortlisted teams prepare a 5-minute video pitch deck explaining the problem statement, value proposition, revenue potential, investment need, prototype and team credentials. The submission must be done to EDC through aforementioned email address by 15th June 2020. The result of OBIM-2020 will be announced by 19th June 2020.
5. Prizes and Rewards
The top three business ideas will be selected by EDC. Cash prize of Nu. 15000, Nu.10000, and Nu. 5000 respectively will be given for top three ideas. The winners will also get to incubate their businesses in the upcoming Business Incubation Centre. Certificates will be given to the winners as well as the participants.