CALL FOR ACTION : " INVESTOMANIA "

Nitraa Investomania

Why concept of Investomania?

NIT Rourkela Alumni have been at the forefront of Innovation and often chosen the road less travelled. Technology and Entrepreneurship are in our DNA. The Global Summit is a platform to celebrate such success and lay down the seeds for a better tomorrow. With this in mind, the "Investomania" event is being organized as a part of NITRAA Global Summit 2018. Pitch your product or idea or business plan to a panel of high powered entrepreneurs, VCs and senior executives. Get highquality actionable feedback and guidance in fundraising and scale up.

WHO CAN PARTICIPATE?

Anyone who has an innovative business idea or product can participate. The stage is not important. From an existing enterprise to someone who has just an idea or a concept or is currently developing a prototype, can apply.

The only eligibility criteria are that you should be a student or Alumni of NIT Rourkela. Apply now using the link given below.

goo.gl/nSi9DP

Why Participate?

Opportunity to

  • gain visibility and recognition at the NITRAA Global Summit 2018
  • have mentors assist you in your start-up journey
  • get entry to FTBI / ETBI access to space and network
  • get investment from reputed Professionals and Angel Investors

Frequently Asked Questions (Faqs)

1. What is the likely level of competition ?

This is the first time that NITRAA is holding such an event. While it difficult to estimate the overall level of participation and number of applications that will be received in Stage I, it is budgeted that around 20 applications will be shortlisted in Stage II and around 5 applications in Stage IV. The eventual winner will be identified in Stage VI and facilitated on 8th Dec at the Global Summit.

2. Are ideas, concepts, prototypes or companies with existing businesses being evaluated together or separately ?

Yes, ideas, concepts, prototypes or companies with existing businesses are being evaluated together. All applications for Investomania go through the same track and evaluation criteria.

Applicants in the idea, concept and prototype stage may not have actually executed on various aspects which are required to be filled in the form. It is however important for such applicants to share their thoughts and plans of how they will go about doing the same in the future. The evaluators will like to understand whether such applicant has thought through all facets of the business while embarking on his/her entrepreneurial journey.

3. Can Non Alumni be part of the team ?

Yes. Non Alumni may be part of the team. However, in the team the presenter and one member should be NIT Rourkela Student or Alumnus and should be playing an active and significant role in the venture.

4. What is the composition of the evaluation panel?

The evaluation panel comprises of 4 to 6 NIT Rourkela Alumni. They have rich experience as successful Entrepreneurs and/or Venture Capital, Private Equity and Angel Investors.

5. What is the composition of the jury?

The jury comprises of 4-6 eminent personalities from the field of business and include CEO of a reputed global enterprise, head of India’s largest Angel Network, head of Start-up initiative of Government of India, Angel and Institutional Investors etc.

6. What can participants expect at the end of the exercise ?

The application form is designed such that it helps the participant understand and appreciate various elements that are important for making a business successful. Therefore, each and every applicant stands to gain by the exercise.

Applicants who are Shortlisted in Stage II will get exposure to and also benefit from interactions with the members of the evaluation panel. The interactions at this stage are likely to be through an audio or video conference call.

In Stage V, the mentors/experts will help the participants (estimated to be around 4-5) with Dry Runs to present their idea for the final Elevator Pitch on 8th Dec.

The Winner of the Investomania, 2018 will get an a) automatic entry for incubation at FTBI/ ETBI and b) Investment from the esteemed jury. Investment and association of such eminent personalities is likely to significantly enhance the market acceptability and visibility of the entrepreneurial venture of the Winner. The quantum of Investment may be more if suitable start-up comes up.

7. Will participation expenses be reimbursed ?

The expenses for the event have to be borne by the participants themselves including those relating to travel, lodging, conveyance, communication etc.

Students of NIT Rourkela who qualify for Stage V and are required to travel to Delhi for Global Summit will however be entitled to train travel and lodging expenses, same as that for volunteers for the event. Such expenses will be limited to 2 representatives per team.

8. Students have end semesters from 23rd November to 29th November. Will it be possible to move the Stage III to before or after 25th November?

Participants are not required to provide any additional material in Stage III. In this stage, the evaluation panel is likely to interact with the applicants on audio or video call for a period of 30 minutes to an hour. Thus the participant engagement in this period is expected to be fairly limited and it is felt that such engagement will not significantly affect student’s preparations. The student coordinators for the Investomania event viz. Himanshu, Rohit and Barnali will also check convenience of student participants and line such calls accordingly.