Empresario 2021–22

About Empresario

Empresario is the annual business model competition organized by Entrepreneurship Cell, IIT Kharagpur.
Entrepreneurship Cell is searching for innovative and enterprising ideas through Empresario.
Empresario’22 provides a platform for students to get excellent professional mentorship from our experienced, varied, and distinguished mentor pool, and to showcase their ideas in front of Venture Capitalists, Angel Investors, and Industry Leaders.

Tracks

Product and Services Track

A Business Model that is function oriented and is aimed at providing sustainability of both consumption and production. Ideas/Prototypes based on meeting diverse consumer requirements or providing an innovative service.

Swavalamban Social Track

A Business Model that focuses on adding value to the people at the bottom of the pyramid and/or help building a greener tomorrow. Empresario’s very own track for enterprises that have a positive social or environmental impact.

Fintech

The technology and innovation of financial technology (Fintech) are intended to compete in delivering financial services with the traditional financial method. This is Empresario’s new track to promote such new and exciting venture types.

IIT Kgp Track

Are you a student of IIT KGP? Got some high-potential ideas? This track is exclusively for innovative Business Models of IIT Kharagpur students. The majority of the team members (50% or more) should be from IIT Kharagpur.

Structure

1.Online Form Submission: The team needs to register on the Empresario website and authenticate their account using code sent to the email-id specified. After that team can log into their account and fill the form online.
2.Early Bird: Additional incentives include extended online mentorship and a face-to-face mentoring session for shortlisted entries.
3.Preliminary Evaluation: After the early bird registrations are over, we will transfer the entries to our mentor pool, which includes professionals from various fields, including Fintech and Agriculture. The mentors will give their opinion and comments on the entries, which will help the participants to brush up their business models and improve the startup itself.
4.Mentorship: Mentoring will be provided to the shortlisted teams. The participants are required to make optimum utilization of the mentoring process so as to create an appropriately refined Business Model.
5.Final Submission: After mentoring, the teams have to submit their final Business Model in a prescribed format. Visit this link to know: How to Prepare a Submission
6.Grand Finale: The final shortlisted teams will present their final Business Model in front of the judging panel at an event to be held in Kolkata.

Early Bird

An oft-quoted term from venture capitalists is that,
“As soon as the business plan is written, it is obsolete.”

Very often, teams focus on writing a business plan and never actually interact with their target customers. We believe that early on, the start-up must move quickly to prototype and test their product or service and that customer interaction is critical. Successful new ventures do not go to market with their first idea; instead, their product/ service has usually gone through several iterations before arriving at the final version.

Since Empresario is one of the few Business Model Competitions in India, we understand that our participants require assistance to generate their business model. Having the support and guidance of a mentor can be of great value to any start-up. Be it mobile technologies, social startups or even the Internet of Things, we have a pool of experienced mentors ready to assist early stage startups. We have mentors from TiE, NEN, Villgro and Totalstart, just to name a few.

Rules

1.A team may consist of minimum 1 or maximum 5 members.

2.Ventures cannot be a buyout, an expansion of an existing company, a real estate syndication, a tax shelter, a franchise, a licensing agreement for distribution in a different geographical area, or a spin-out from an existing corporation.

3.There is no restriction on any individual to participate.

Anyone, from students to working professionals across the world with an idea, a product or service or even an operating startup, can participate.

Terms and Conditions

By registering for this competition, it shall be deemed that each individual of the participating team has agreed to be bound by the following terms and conditions:

1.By registering to participate in Empresario, each participating team agrees to allow Entrepreneurship Cell, IIT Kharagpur to use their names, images and information regarding the team’s business, and prize information for publicity and marketing efforts throughout the world. Each participating team must agree to accept that their registration form and other entries will not be returned to them, and accept that their personal data will be available for information and statistical purposes.

2.The participating team represents that Intellectual Property in the Business Plan does not infringe upon the intellectual property or any other legal or moral right of any person or entity.

3.Entrepreneurship Cell, IIT Kharagpur reserves the right to disqualify or prohibit from participating in Empresario any team that makes a submission that, in the sole discretion of Entrepreneurship Cell, IIT Kharagpur does not confirm with the Eligibility Criteria or does not comply with these Terms & Conditions and/ or the Competition Rules.

4.By entering the Competition, each team and its individual members agree to accept as final any decisions of The Entrepreneurship Cell, IIT Kharagpur including determination of the winners of Empresario.

5.Entrepreneurship Cell, IIT Kharagpur shall have the discretion to initiate appropriate action against participating teams including individuals of such participating teams in case of any losses or damages arising from violation of the Eligibility Criteria, Competition Rules and the Terms & Conditions.