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IIT Bombay's Entrepreneurship Cell is all set to host the next edition of Eureka, a business model competition aimed at young founders and leaders, providing them with a platform for learning, networking, and mentorship over several months.
The event, now in its 26th edition, is particularly tailored for early-stage entrepreneurs, offering specialized mentoring on developing effective go-to-market strategies.
The upcoming event is presented by Axis Bank, co-presented by WestBridge Capital, in association with Amara Raja Batteries, Maruti Suzuki as the Innovation Partner, Healthcare Partner Emil Pharma and Gold Partner Shiru Startup Cafe.
What does Eureka offer to startups?
Over five months and through three extensive rounds, participants, who numbered over 15,000 in the previous year, will gain insights from on-stage mentors to help shape their business models.
The mentors, including industry leaders from various sectors, will guide founders in navigating the complexities of building a scalable business.
Providing mentorship and workshops
After the initial mentoring, shortlisted entrepreneurs will enter a round of intensive mentorship and workshops, focusing on refining their business models and products.
The evaluation will be based on the viability and unique value proposition of their ideas. Finalists will then participate in a three-day accelerator programme to prepare for the competition's final pitch, which will be held as part of E-Summit 24, IIT Bombay’s annual business conclave, in February 2024.
Winning startups to receive prizes worth $120K
In the final stage, selected startups will pitch their ideas to a panel of industry experts in a closed-door event. The winning startups will receive prizes worth $120,000 or nearly Rs 1 crore, including various incentives like AWS Credits and free subscriptions to platforms like Canva and GitHub.
Notably, The investors will also have the option to provide additional funding to the startups presented.
The best student startup will get an opportunity to secure a sponsored trip to Princeton University, and direct qualification in the finals of Tiger Launch, The prestigious entrepreneurship competition.
The winners of past editions included startups such as BlisCare, Jeevan Lite, SPARC, MyWays, DocEye, Curomates, and AI-Genix. The winning startups also got the opportunity to pitch their business ideas on international grounds at the Indian Pavilion, Dubai EXPO 2020, where BlisCare, DocEye, Curomates, and AIGenx raised spot funding.
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