Kaun Banega Udyogpati: Finally the hot seats are full

Goa is gradually moving into a hub for start-ups. More than 220 start-ups exists in Goa,if not more. To fuel and encourage this further,the Centre for Incubation and Business Acceleration (CIBA) launched its two and a half month talent hunt exercise in the name of Kaun Banega Udyogpati (KBU), which ignited minds leading to creation of at least 659 ideas to compete in this competition. The entire episode, cutting accross all age barriers,which ranged from a 16 to 67 year old participants,presented a bouquet of quality ideas, which actually quizzed the brains of the judges who found each idea an innovative and fresh. VIKANT SAHAY visited one of CIBA’s presentation sessions in which, over 40 start-ups pitched their case to qualify for the ten slots which will participate in the grand finale to be held on May 14.

Published on:

02 May 2016, 12:32 am

It is hartening to know that 659 different ideas and innovations actively participated in the Kaun Banega Udyogpati (KBU) contest launched by the Centre for Incubation and Business Acceleration (CIBA). Out of these, 50 reached the stage where they pitched their presentation before a panel of judges to get selected for the grand finale and finally

ten qualified for the May 14^th grand finale to be held in Goa. A business plan competition looked at the business

model along with the technical, financial and market feasibility. Kaun Banega Udyogpati differed from a business

plan competition as it focused only on the idea. The mantra was to work on the innovative ideas with the available

tools, pivot along the way and develop a hugely successful company. The critical elements of business including building team, pain points, value proposition,product development,go to market,customer traction,competition,

business modelling and funding strategies will be dealt with the support of mentors along the way. Since March 2012,

the Centre for Incubation and Business Acceleration (CIBA), has been nursing young and budding entrepreneurs in

the state of Goa. This is the second time that CIBA has launched such talent hunt and in 2013 it was meant only

for students, while this year it waas open for all. Prizes worth 25 lakh will be awarded to the winners. This includes cash prize and seed funding. Besides the cash award the winners will also be incubated and mentored at CIBA for a

period of six month to commercialise the product or their services. Yes, its all happening in Goa, the state, which is normally equated by people in India as a fun and frolic destination. The Department of Industries and Commerce,

Government of India has recognised CIBA, Goa as an incubator which is eligible to recommend start-ups to help them avail the benefits under the start-up India policy. In the past, more than 400 business ideas have been reviewed by about 48 incubatees of which 23 have graduated and five of them have bagged international awards. Mentioned below are the profiles of the start-ups which have qualified for the grand finale.