India Innovation Pioneers Challenge 2006

DST - Intel Technology Business Plan Competition

Champion of Champions

Overview of the competition

Intel in association with Department of Science & Technology, Government of India organized "DST-Intel India Innovation Pioneers Challenge 2006", an innovative business plan competition for educational institutions and organizations across India.

The objectives of "DST-Intel India Innovation Pioneers Challenge 2006" are to:

• Support students and alumni with entrepreneurial community in their endeavors to create real businesses

• Encourage commercialization of promising ideas emerging from the country's research centers

• Provide platform to develop business plans on some of most exciting technologies

DST-India Innovation Pioneers Challenge 2006 showcases the business opportunities that have the greatest potential for a positive impact on society through the deployment of new and truly innovative technologies. With areas that cover the spectrum of cutting edge technologies, "DST - Intel India Innovation Pioneers Challenge 2006" empowers aspiring entrepreneurs to work towards making their dreams a reality.

About "Champion of Champions" category

• Open only for teams that have held top 3 positions at prominent business plan competitions held in India in the last 2 years.

• The top 3 teams will be given the following prizes*:

  • 1st Prize = Rs 3,00,000 (3 lakh)

  • 2nd Prize = Rs 1,00,000 (1 lakh)

  • 3rd Prize = Rs 50,000 (fifty thousand)

• The top 2 winning teams will also receive an all expenses paid-trip (Economy-class airfare, boarding and lodging only) to UC-Berkeley for participating at the Intel + UC Berkeley Technology Entrepreneurship Challenge in October 2006.

• The judging criteria for the business plan includes: a) innovation, b) immediate and long-term impact and c) most elegant design solution to a challenging problem.

Background of "Champion of Champions" category

• DST -Intel India Innovation Pioneers Challenge 2006 launched on 04 Aug 2006

• Received 26 final business plans from teams who won business competitions held in past
  2 years

• Business plans relevant to technology areas of the competition selected to proceed to the finals

• The judging criteria for the business plan to proceed to finals included:
  a) innovation, b) immediate and long-term impact and c) most elegant design solution to a challenging problem

• 8 teams comprising of 13 members selected to participate in the finals on 11 Sep 2006.

Technology Focus Areas

Only business plans that make integral use of novel technology, such as technologies in the following industry categories, have been chosen to participate in the finals under Champion of Champions category:

1. Manufacturing of electronic systems and hardware - techniques, technologies etc.

2. Hardware - new systems for instrumentation, control and applications.

3. Communications including rural and group level communications with special emphasis on mobile and wireless systems and devices.

4. Digital home - devices and systems for smart homes, remote control of appliances etc.

5. Consumer electronic devices with micro devices, better quality and new applications

6. Technologies and systems for retailing

7. Applications of IT for agriculture - measurements, implements - water supply, resource conservation, etc.

8. New types of software services and web services

The technology implemented in the business plan should also address issues like the novelty of the plan, feasibility, utility aspects and its applicability to disadvantaged people, rural areas and to improving the societal lifestyle. While the scope of technology innovation is not restricted to the above, plans without a strong technology focus may not be chosen to compete.

Products are preferred. If business models / entrepreneurship models are proposed, they should be really new and should have significant advantages over existing models.

Judging Criteria

A panel of experts from academia and industry will be judging the finalists to decide the top 3 teams. Some of the evaluation criterion that the Judges will consider during the finals are:

• Executive Summary of the competition (Less than 3 min elevator pitch)

• Markets and Competition

  • Clearly Identified customer (Market)

  • Problem / need addressed

  • Competitive Assessment (Existing market / projected market)

  • Alternative Solutions available / possible

• Team

  • Relevant domain experience. Industry experience, business track record, education, network etc.

  • Gaps in the team

  • Steps taken to fill the gaps

• Products and Services

  • Solution proposed

  • Justification for the proposed solution

  • IP of the proposed product / service

  • Uniqueness of the proposal

• Financial Aspects

  • Projections

  • Profitability of the proposal

  • Projected capital requirements

  • Sources to raise capital

• Justification for why the plan should be funded?

Short listed teams for "Champion of Champions"

These proposals are evaluated by Foundation for Advancement of Education and Research (FAER).

Winners of "Champion of Champions"