IIT, ICT and CSIR-CFTRI Students Make it to Finals of the International Challenge
- The team of seven with students from IIT, ICT and CSIR-CFTRI will be visiting France to participate in the finals of 24 Chrono Challenge.
- The winning team laid major emphasis on food processing with major highlights the production of turmeric powder.
A team of young students from Indian Institute of Chemical Technology (ICT), IIT Indore, IIT Roorkee, IIT Delhi and CSIR – Central Food Technological Research Institute (CSIR-CFTRI) have emerged as winners of ’24H Chrono Challenge’, an innovative business idea contest. The team will be visiting France to participate in the finals of 24 Chrono Challenge and explore an innovation hub in France.
Over 56 students from different premier institutes across the country took part in the contest that took place at Indian Institute of Science Education and Research, Pune. The applicants were shortlisted in October 2017, and these applicants were divided into eight teams (seven members in each team).
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A Ph.D. student from IIT Roorkee, Repaul Kanji is one of the major members of the winning team. Two other students from IIT Roorkee are the members of the winning team. One student from IIT Indore, IIT Delhi and CSIR-CFTRI are also part of the winning team.
According to the contest rules, the team was given 24 hours to figure out an idea and transform it as a business plan with all mandatory strategies like sales strategy, marketing, exit strategies and financial planning. The winning team laid major emphasis on food processing, particularly on the production of turmeric powder. It takes at least one month for the underground stem (rhizome) of turmeric to harden for powdering. Later, the powdering process from the residue will be used to make clean biofuels. The team developed a plan around that.
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French National Agency for Research and Technology conducts 24H Entrepreneurship Challenge. The objective of the contest is to encourage the spirit of entrepreneurship among the Ph.D. students.