Ennovate’24, the Flagship event of the E-Summit’24 organized by BloomBox KJSCE, unfolds as a meticulously crafted business competition aiming to inspire students to address real-world problems through innovative solutions and well-crafted business plans, fostering the potential for enduring and lasting change.
This hybrid event comprises two rounds where participants must formulate comprehensive business plans, each serving as an integral component to their overall strategy. Contestants in this competition have the liberty to choose any industry, identify a challenge within its framework, and devise a solution by creating an optimal business model. The event concludes with the top three ideas earning well-deserved prize money, uniting diverse backgrounds to transform ideas into pragmatic solutions. It is the “Ultimate Business solution arena” hosted in KJ Somaiya College of Engineering!
Guidelines:
- A person can register as a part of one team only. Multiple Registrations will lead to Disqualification.
- Ideas must be original and copying of ideas would lead to disqualification.
- The competition consists of two rounds. In the first round, participants must present a 2-page pitch deck (.pdf Format) online via Unstop.
- The top 10 teams with the most promising ideas will advance to round 2.
- Round 2 will be conducted in offline mode in KJSCE. Shortlisted teams will present their ideas and business plans via a PowerPoint presentation to a panel of judges.
- The pitches will be judged on criteria like problem identification, business model innovation, business plan structure, scalability, etc.
- In case of any discrepancy, the verdict of the organizing committee would be considered as final.
Rules for Round 1:
- The B-plan needs to be prepared according to the sample B-plan provided by the organizing team. Teams can write any additional points if required.
- In case of any discrepancy, the verdict of the organizing committee would be considered as final.
- If any member of the team resorts to malpractice during the round, then the respective team will be immediately disqualified.
- Plagiarism in any form will result in the deduction of points.
- Contestants should strictly adhere to the timeline of the event and submit their ideas in time. No submissions will be accepted after the deadline.
- Registration forms need to be filled out without any false information.
- A person can register as a part of one team only. Multiple registrations will lead to disqualification.
Rules for Round 2:
- Presentations are limited to the designated time slots.
- Pitch submissions are required before the event.
- Participants should retain ownership of intellectual property.
- Participants should present their ideas using a ppt. Ideas must be original and copying of ideas would lead to disqualification.
- Each team will get “10 minutes” to present their pitch followed by a QNA session with the judges!
- Time penalties will be imposed for exceeding the given time limit:
- 0-1 minutes- 10% of presentation marks will be deducted.
- 1-2 minutes: 20% of presentation marks will be deducted.
- More than 2 minutes: 100% of the presentation marks will be deducted.
- Decisions made by the judges will be final and binding.
Judging Criteria for Ennovate:
- Problem Identification:
- Clarity of the chosen industry
- Understanding of the target audience
- Uniqueness of the identified problem
- Business Model Innovation:
- Feasibility of the proposed solution
- Value proposition & Competitive advantage
- Business Plan Structure & Completeness:
- Adherence to the provided format
- Conciseness of the plan
- Inclusion of elements like market analysis & strategies and financial estimates
- Scalability:
- Go-to-market Strategy and initial implementation plan
- Overall Presentation
- Quality of writing & professionalism of 2-page pitch deck
