Published on November 29th, 2013 | by Derek Markham0
iDiya Challenge Boosts Indian Social Entrepreneurship
To help develop the fledgling social entrepreneurship movement in India, a student-driven initiative from the Indian School of Business is working to develop high impact self-sustaining social businesses through an annual social venture competition called iDiya.
“iDiya is ISB’s national Social Venture Ideas Competition. It was conceived in 2009 at the Indian School of Business by the Net Impact Club of ISB. Within four years, iDiya has come up as a promising platform for dynamic entrepreneurs with a social bent from around the world to showcase their idea to enthusiastic partners. These partners not only mentor the entrepreneurs during the bootcamp held at ISB, Hyderabad, but also help them with the one resource most entrepreneurs feel drags them back in making their idea big – funds”
This year marks the fifth year for the iDiya Challenge, the biggest social venture competition in India, and is being held at ISB’s Hyderabad campus from the 25th to the 30th of November.
Participants get a chance for their venture to get more exposure, and those whose proposals are chosen by the jury as viable and potentially successful will receive both monetary and mentoring support, including a week-long boot camp:
If your idea manages to convince the jury of its potential, and you are invited to the boot camp, you would be entitled to:
• A one-week all expenses paid Boot camp for the top 10 teams where you will meet industry leaders, venture capitalists and business mentors
• Top 10 teams will receive mentoring support after the competition. The mentoring board comprises of high-profile businessmen and organizations which will help you commercialize your idea.
In addition to the above we offer :
• Over 1.35 Crore worth of Seed funding.
• Assured mentoring from industry experts in round 2 of the competition.
• A place on the iDiya website for the top 20 participants.
• Cash rewards :
Winner – Rs. 200,000
Runners-up – Rs. 100,000
2nd Runners-up – Rs. 50,000
4th,5th – Rs. 25,000 each
• A short feedback to the top 50 participants on their idea.