Mumbai, 20 October 2021

 

The Entrepreneurship Cell of IIT Bombay, a non-profit organization, conducts several initiatives throughout the year to promote entrepreneurship. E-Cell IIT Bombay’s business model competition Eureka! is an initiative that provides opportunities that enable startups to reach the best places and create an impact in the country. Registrations for Eureka! 2021 are open at: https://eureka.ecell.in/. There are prizes worth INR 80 Lakhs for the winners along with the opportunity to present their idea at Expo 2020 Dubai.

The startups that participate in the competition Eureka! will receive mentoring, funding, incubation, networking, and many other opportunities. With a year of lockdown and restricted business activity, several problems have become prevalent in society. Eureka! envisions to bring out the best solutions to these problems in different sectors and provide the support that is needed by them to solve the woes of society.

This year, the competition is divided into 7 different tracks:

1. Salesken Business Track: The Flagship track of Eureka!, the business track aims to help ideas develop into businesses that have the potential to revolutionize the world.
2. Swavalamban SIDBI Social Track: The Social track encourages ideas and B-models which cater to people closer to the bottom of the pyramid and envision the greater good of the society.
3. SBI General Fintech Track: The fintech track encompasses advances in technology and changes in business models that have the potential to transform the provision of financial services through the development of innovative instruments, channels, and systems.
4. Shell Sustainable and Affordable Energy Track: The Sustainable and Affordable energy track encourages startups that are working towards clean energy goals and providing alternatives to traditional fuels.
5. Godrej Agrovet Food and Agro Track: The Food and Agro track aims at supporting innovation in the field of Food & Agriculture industry. There is a lot of potential in this sector as the millennial generation is moving towards healthy eating habits while trying to retain the enjoyment of eating junk food.
6. Westbridge Capital Pan-IIT Track: The Pan-IIT track invites entries from startups founded by students or alumni of any of the 23 Indian Institute of Technology (IITs).
7. Gulf Islamic Investments Edutech Track: With the pandemic shaking up the entire world including the education system, transition to a digital mode has now become an absolute necessity rather than a mere technology-driven trait. This track has got education and innovation excellence at its core.

About Entrepreneurship Cell, IIT Bombay: Started in 1998 with a prize money of INR 50,000, Eureka! has grown rapidly to become Asia’s largest business model competition with more than 10,000 entries coming in every year. Many startups from Eureka! have went on to become multi-million dollar enterprises. E-Cell IIT Bombay have received patronages from UNESCO, Make in India, Startup India, and Digital India for its contribution to promote entrepreneurship. E-Cell has been serving as a link between various components of the startup ecosystem for the past 22 years through its various initiatives. E-Cell has had people like Mr. Travis Kalanick (CEO, Uber), Ms. Arundhati Bhattacharya (Former Chairman, SBI), Mr. Deepak Parekh (Chairman, HDFC), Mr. Amitabh Kant (CEO, NITI Aayog), Mr. Nandan Nilekani (Former CEO, Infosys), Mr. Divyank Turakhia (Founder, Media.net) as speakers at their events.

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PIB Mumbai | DJM/DL/DR

 

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