Ignite Idea Contest

We believe in order to spark innovation and entrepreneurship in the region, we need to start with ideas first. Our contest encourages applicants with ideas to submit entries that can change their community and maybe the world. We are looking for concise ideas that can be converted into potential products or services with high impact. We will award top ideas with cash prizes totaling over Rs 1 lakh and an opportunity to turn their dream into reality at Innokul Lab.

Why Now?

This is an exciting time for India as it tries to establish itself as an innovation and manufacturing hub. Eastern India that has lagged other parts of India in development is eager to catch up. Based on our interactions with relevant stakeholders like students, education institutions, businesses, government, and other agencies, we believe that there’s a strong need for innovation and entrepreneurial ecosystem that drives ideas into realities. This contest is part of that solution.

Benefits to Participants

• Feedback and support from a talented and experienced mentors
• Review from distinguished panel of judges
• Promotion and visibility through our media partners and platforms
• Opportunity to partner with Innokul

Who can enter?

Anyone over the age of 16 (as of January 1, 2016) is eligible to submit their ideas. This event is limited to residents of Eastern India.

How to enter?

The written idea must not exceed 3 standard written A4 pages. You can also choose to submit a 2-min video if you prefer. All submissions should reach our office via email at ignite@innokul.com by January 22, 2016. Innokul has the right to disqualify business plans exceeding the maximum length.

Key requirements

• Idea has to be original. You must NOT have received more than Rs 1 lakh in funding.
• Explain your idea based on the criteria listed next.
• All contact information on all team members should be clearly stated in the submission.
• Confirm you meet all Official Rules

Criteria

Critera

Weight Description
Clarity of Concept 25% Can you explain your concept and its value clearly and quickly?
Unique/Innovative Idea 25% What makes your business concept different and/or better from what is available currently?
Development Feasibility 25% Can your concept be produced efficiently and at realistic cost? Is product/service easily scalable?
Marketability 25% You must demonstrate that there will be significant demand for your product. Who will purchase it and why?

Key Dates

• Jan 22, 2016:Submit your big idea by emailing to ignite@innokul.com
• Jan 29, 2016: Finalists announced
• Feb 6, 2016: Pitch/Demo Day

I have applied now what?

Congrats! You have now taken the first step to make your idea happen. Our distinguished panel of judges will review and rate your submission. The finalists will be announced via email and on the website.
Thank you for participating and best of luck!