Gotanidea Challenge 2017 Season 2 – Aarambh Ventures to Find, Nurture and Grow Original Thinkers and Innovators in Association With SINED, TBI, NDRI, Karnal

In pursuit of innovation, Aarambh Ventures is back with #GotanIdea challenge 2017 (season 2), in association with Society for Innovation & Entrepreneurship in Dairying (SINED), TBI, NDRI, Karnal, to find, nurture and grow original thinkers and innovators.  They are always seeking to innovate, learn & interact with their startups. Since its inception in October 2015, Aarambh has helped 3 of its startups close seed round successfully and three more are undergoing acceleration at its Gurgaon office.

There is a new breed of early stage startup SMEs (Small & Medium Enterprises) struggling between debt & equity. This year #GotanIdea challenge is trying to address this equity gap among Startup SMEs in INDIA. They are trying to fill the gap created by seed stage VCs and Banks / FIs attributed to the risks associated with early stage Startup SMEs & NPAs respectively.

#GotanIdea challenge is designed by keeping the concerns of all stakeholders viz startups, investors and an accelerator. Prospective investors and Aarambh work together right from the first round. The six months acceleration program is executed in association with prospective investors. This also helps investor defining the road map of their potential investee company.

For a startup, it generally takes 4-5 months to close an investment. #GotanIdea challenge gives startups this opportunity to utilize this time to make their ventures investment ready and that too under the mentorship of their potential investors.

ELIGIBILITY

• Startup SMEs (Small & Medium Enterprises): Start up SMEs involving innovations & new technologies and require upfront investment in CAPEX. Fast growing SMEs which are commonly dependent on traditional debt and are unable to access alternative sources of capital like angel fund / venture capital fund.
• Startup SMEs meeting the following criteria:
  • For profit businesses and / or social enterprises
  • Within 6-12 months of starting up
  • Startup SMEs having any of these three:
    • Business Innovation: Business innovation ranges from the radical innovations (in product, services, processes) that shake up entire industries to the many small innovations that perfect the execution of already successful organizations.
    • Technology: Application of new, radical & affordable technologies.
    • Design: Application of innovative design into products / services / processes.
  • Startup SMEs working in fast growing & dynamic sectors viz media & entertainment, emerging technologies, life sciences, health care, biotechnology, food & agriculture and manufacturing.

AWARD 

1. FIRST PRIZE: INR 15 lakhs as seed funding.
2. SECOND PRIZE: INR 5 Lakhs as seed funding.

The funding shall be linked to a unique milestone & mentoring based investment strategy spread over a period of 6 months. Post 6 months, the winner will also have the opportunity to pitch to Aarambh’s partners for an investment up to INR 50 Lakhs.

KEY DATES

JUDGING CRITERIA
The final pitches will be evaluated in each of the following areas (also see Judging Rubric)

• Team
• Business Innovation / Technology / Design
• Market Opportunity
• Competition
• Traction
• Viability

Event Description
The event is being organized and managed by Aarambh Ventures. Aarambh is providing the infrastructure that enables applicants to submit their ideas and plans online and lets mentors and judges to screen, evaluate, and provide feedback in a coherent manner. More information on AV platform and how to use it effectively can be found at www.gotanidea.aarambh.ventures ^[1]

To register and submit the application for #Gotanidea 2017 click on www.gotanidea.aarambh.ventures/apply. For general information and questions please visit www.gotanidea.aarambh.ventures. Email your questions to gotanidea@aarambh.ventures

Process:

• You can register and create an account at gotanidea.aarambh.ventures. This will let you revisit and update your application as many times as you like till the final submission and also receive the feedback. You will also receive a FAQ to help you in using the system.
• Submit your application from your registered account.
• All entries will be screened for completeness and eligibility requirements. The qualified entries will be reviewed in the order received and feedback.
• About 10 entries will be selected to advance to the next round based on reviewer feedback.
• All teams are required to undergo one-on-one mentoring sessions to receive focused coaching and mentoring to help them further refine and develop their plans and pitches.
• Each team will make a presentation in person at a location at Aarambh’s office in Gurgaon to the Judging panel. The panel will consist successful entrepreneurs, domain experts, academicians, investors and industry veterans.
• The Judging Panel will evaluate the pitches and the financials and determine the winner.

ENTREPRENEURSHIP CAMP @ NDRI, KARNAL

• Entrepreneurs & Entrepreneurship

• SESSION THEME : What’s an entrepreneur’s primary motivation / personal goal to start her / his venture. Does it relate to her / his personal interest, hobbies, experience or professional network? How did she / he leverage past experience and network in executing this idea?
• DETAILS TO BE COVERED :
  • What is your story?
  • Why you are betting on this product/service? (The Problem you are addressing)
  • How unique or differentiated is your solution?
  • When you are planning to Go-to-Market? (Is it a right time to launch this type of service/product? Market Acceptance?)
  • Who are your customers? (What is your Total Addressable Market?)

• SESSION THEME : Startups are often strapped for cash, crunched for time, and slammed with responsibilities. These kinds of lean and agile operations need a particular kind of marketing power. Startups can’t do every marketing activity in the book. They certainly can’t spend all the money they want. But they still need to do marketing. How?
• DETAILS TO BE COVERED :
  • Marketing in Product vs Service based start-ups
  • Marketing in Non – Conventional Sector
  • Successful Marketing for the success of a Great Product!
  • Importance of Growth Hacking and Viral Marketing
  • Content Strategies in Social Media
  • Leveraging Email Marketing
  • Target Marketing for productive results
  • Media Exposure: Is it a right time?
  • “Not so usual” Marketing Strategies
  • Optimizing Marketing Costs in a startup

• SESSION THEME : Usually when we think of startups, we think of the driven and inspiring individuals that create the new venture. Of course, crucial though those founders undoubtedly are, the success of the startup often rests as much on the remainder of the founding team as it does on the founders themselves.
• DETAILS TO BE COVERED :
  • Why you need to hire a Co-Founder? Must haves in a Co-Founder
  • How to create a Team Roadmap?
  • When, How, Why of extending a team for an entrepreneur?
  • What should an entrepreneur look for when hiring for a leadership role?
  • Leadership hiring vs Managerial hiring
  • Importance of Diversity in a startup
  • How to build better connections with your team?
  • Ensuring Great Culture and a healthy work place
• FORMAT : Panel Discussion 

• SESSION THEME : One of the challenging aspects of building a startup is identifying how well your startup caters to the market that you’re addressing. One of the most important things that entrepreneurs need to focus on is how well the startup figures in the product-market fit aspect of delivering what the users want at the end of the day.
• DETAILS TO BE COVERED :
  • Moving from ideation to creation | Introduction to Product Management
  • Ins and outs of MVP
  • Role of UI/UX for building a successful MVP
  • Stages of Product Development Lifecycle
    • Market Analysis: Customer Value Research, Firm Competencies, Competitive Research and Market Analysis.
    • Strategic Planning: Product Strategy, Market Definition & Sizing, Strategic Pricing, Buy Build or Partner?
    • Product Planning: Requirement Definition, Budget Planning and Cost Management, Product Roadmap.
    • Product Development: Resource Planning, Forecasting deliveries, Agile Methodology, Coordination b/w stakeholders. Why Beta testing, UAT and Feedback is important? How to plan and accommodate Product Enhancements?
    • Go – to – Market Planning: Product Positioning, Product Value Communication, Channels and Partnerships, Market Planning, Launch Planning, Customer Acquisition Models, Market Planning
    • Sales: Lead Generation, Sales and Channel Training, Customer Relationship Management, Funnel Analysis
  • Why is it so important to talk to potential customers?
  • KPIs and metrics for judging a Product | A/B Testing

 SESSION THEME : While it’s a given that launching a startup means embarking on a long and winding road, pinning down the exact odds for success is not the most crucial task for a company founder. The most important question to ask is why so many fail. While the overall economy can be a formidable influence, startups frequently make certain common mistakes.

• DETAILS TO BE COVERED:
  • Entrepreneurs’ personal stories

 SESSION THEME : So you’ve come up with an idea for a business? Congratulations! Now you need startup financing – that initial infusion of money needed to turn the idea into something tangible. And that’s where it becomes tricky.

• DETAILS TO BE COVERED :
  • Managing growth and finances in a startup: Monthly Revenue Growth, Revenue Run Rate and Margins
  • Bootstrapping & Non-commercial Financing
  • What Attracts Venture Capital/Private Equity?
  • Chasing vs Raising: Make it a balanced act
  • Is Venture Capital worth the trouble?

• SESSION THEME: There are plenty of legal mistakes made by entrepreneurs and start-up companies viz Not making the deal clear with co-founders, what legal form to operate the business, IP ownership, equity grants, employee documentation and so on..
• DETAILS TO BE COVERED:
• Incorporating a company
• Business partnerships and Engagement Agreements
• Intellectual Property Protection and Agreements
• Registering a name or logo as a Trademark
• HR Employment Agreements
• Regulatory Clearances
• On – boarding a new co-founder
• Issues with filing taxes and Returns
• Legalities involving “Exiting a Business”
• Day-to-Day legal issues

^[1] Will go live on May 05, 2017.