IDEA BAZAAR 3.0 – an E-Cell (SIOM) initiative, aimed at providing potential entrepreneurs a platform to showcase their business ideas and raise funds from potential investors was held on 16th June, 2016. Through this event, E-Cell reignited entrepreneurial fervour and spread awareness of crowd-funding concept among SIOMites.
Mr. Prashant Barge kicked off the event by felicitating our guest of honour, Mr. M.G. Kulkarni, C.E.O., Rectiphase Capacitors. The event had two facets- the ideators and the investors. Each ideator pitched his/her business idea before investors within a stipulated time. Investors evaluated and invested in the innovative ideas presented by the ideators. At the end of the event, the business idea that received maximum marks from the judges and generated maximum market capitalization was declared the winner. The investors who strategically invested maximum amount of virtual money in the winning idea were awarded “Smart Investor” title.
The third edition of the event witnessed massive participation and enthusiasm among the students. From the registered candidates, a total of 13 ideators were shortlisted for crowd-pitching their business ideas. Selected Investors from the crowd were given Rs.4.0 Lacs in virtual money to invest in ideators. Healthy discussion and constructive criticism followed each presentation by the ideators.
The event finally concluded with the declaration of winners by Mr. M.G. Kulkarni and Mr. Prashant Barge. Among the ideators, the team of Mr. Rahul Mathur and Ms. Shrishti Nahata which presented “Floor Plan App” was declared as the “Best Idea”. Mr. Varun Patel and Mr. Anand Singh won the titles of ‘Smart investor’.
With such an overwhelming response from the students, IDEA BAZAAR 3.0 was indeed a resounding success. E-cell plans to organise many such events in the near future to instill the spirit of entrepreneurship among students.
