The Power of Ideas is an Economic Times initiative, in association with the Centre for Innovation, Incubation and Entrepreneurship (CIIE) at IIM Ahmedabad and the Government of India’s Department of Science and Technology (DST). It is a platform for budding entrepreneurs and start-ups to give shape to their ideas and attract investment from Angel Investors and Venture Capitalists. This initiative is at identifying feasible business ideas and helping the entrepreneurs through the process of creating a business plan and an elevator pitch and presenting it to potential investors. The first edition of the Power of Ideas was held in 2009 by the Economic Times, however this year they have joined hands with IIM Ahmedabad and the DST. IIM Ahmedabad’s CIIE has agreed to conduct a 10 days all expense paid program and the DST has offered Rs.5 Crore seed funding for those ideas that are shortlisted. Mr. Narayan Murthy of Infosys has agreed to mentor the entrepreneurs selected. This year the deadline for submission of ideas is 14th July 2010. For more information visit www.ideas.economictimes.com
Though time is very short, there is no reason to despair for those who may miss the opportunity this year. Economic Times will surely be back with the 3rd edition next year (2011) considering the overwhelming response that they have received since its launch last year. Till then you can fine tune your ideas and be prepared with a detailed plan.
This Power of Ideas initiative is ideal for, though not restricted to, Ecommerce ideas and startups. Ideas across any lines or areas of business are welcome, whether traditional brick-and-mortar or the new economy, digital age ventures. In fact, Ecommerce businesses normally require lesser capital than manufacturing setups and hence more suitable. A good place to get an overview of India’s Ecommerce space and setting up online businesses is http://www.indiareports.com/summary/ecommerce_in_india.aspx
Source: www.ideas.economictimes.com
