Business Plan Competition 2024
9th - 11th May 2024
Institution’s Innovation Council (IIC), Ministry of Education (MoE), Dronacharya Group of Institutions, Greater Noida organized a “Business Plan Competition” from 9th – 11th May 2024. Prof. (Dr.) Ritu Soryan (IIC Start-up activity Coordinator) coordinated the event.
The competition brought to the floor the aspiring entrepreneurs from various departments to present their ideas for viable business ventures. The competition served as an excellent platform for students to transform their technical skills into real-world applications, pushing them to think beyond engineering and into the realm of business development.
On the first day of the competition, i.e. on 9th May 2024, Prof. (Dr.) Ritu Soryan welcomed all the participants and gave a briefing about the competition. She told about various phases of the competition and articulated the category wise winning prizes. During the first day CSE, ECE, EEE and CSE-AI&ML students were required to present the ideas in front of the judges. Teams were given 10 minutes to present their business plans, followed by a brief Q&A session from the panel of judges. Judges evaluated each business plan based on its potential for real-world impact, creativity, and the team’s ability to execute the project. At the end of the day, 5 teams were shortlisted to advance to the final round
During the second day of the competition, i.e. on 10th May 2024, students from CSIT, IT, ME and MBA department were required to present their ideas in front of the judges. The teams were shortlisted according to the criteria of judgment and 5 teams proceeded to the final round of evaluation which was held on the subsequent day.
The final day of the competition was the most anticipated, as the top 10 teams prepared for their ultimate presentations. Each team was given 20 minutes to present their refined business plan, followed by an in-depth Q&A session from the judges. The presentations were more comprehensive, with teams researching deeper into their market research, competitive landscape, risk assessment, and growth strategies. This round tested not only the creativity of the students but also their understanding of the practical challenges that startups face.
After intense deliberation, the judges announced the winners based on factors such as innovation, feasibility, and potential market impact. The first-place team presented a sustainable energy solution that aimed to revolutionize renewable energy access in rural areas and was awarded with cash prize of INR 3000. The second-place team focused on a cutting-edge AI-driven health diagnostic tool and bagged INR 2000, while the third-place team proposed an efficient waste management system utilizing IoT technologies and received INR 1000. The participants were also applauded for the efforts put by them and were given certificate of participation.
Objective: Brought aspiring entrepreneurs to present their ideas for viable business ventures.
Benefit: By participating in the Competition, young entrepreneurs gained valuable insights, & skills to transform their plan to startups.