IIT Kharagpur Facilitates Empresario 2017-18, an Annual Global Business Model Competition

The Entrepreneurship Cell at Indian Institute of Technology, Kharagpur will host Empresario 2017-18 in association with International Business Model Competition (IBMC). The annual global business model competition is being co-hosted by Brigham University, Stanford and Harvard University. Th Empresario is the official qualifier to IBMC from India. Various competitions will be conducted under a number of categories. The best entries in all the categories will get a direct entry and a sponsored trip to the quarterfinals of International Business Model Competition 2018 that will take place abroad.

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According to sources, the shortlisted entries will be offered help in terms of mentorship. The winners of the competition will also get an opportunity to present their ideas in front of India’s biggest investors and VCs. The participants of Empresario will be supported by various organisations including TiE NEN or National Entrepreneurship Network and others. The participants will also get various start-up services like taxation, legal advice, technical and financial aspects of running a start-up, HR needs, incubation opportunities and co-working space.

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The participants can present business ideas in various fields including Product Design, Product and Service as well as Social categories. Each of the entries will get an opportunity to win the prize amount of Rs. 25 lakhs and incubation money of around Rs. 2.5 crores. Earlier, Indian Angel Network, Villgro and Calcutta Angels launched Empresario.

In the first round of Empresario, participants must fill up a questionnaire on a business idea. The questionnaires are uploaded on the official website of Empresario. Interested candidates can register themselves on the official website.