IIM Calcutta Innovation Park (IIMCIP), in association with Department of Science & Technology, (GoI) announces the launch of ‘Smart Fifty - 50 Solutions to Transform India’

Posted by: at 9/20/2017 04:49:00 am


~ Smart Fifty is a major initiative to identify, recognize and reward aspiring and early-stage entrepreneurs and innovators aiming to create large scale positive change in India~

~ The platform will focus on innovative ideas which can transform India from a

socio-economic perspective, urging participants to present solutions that are SMART (Sustainable, Motivating, Affordable, Responsible and above all, Transformative) ~

About the program ‘Smart Fifty’ • 3000 selected participants will receive startup kits and get to attend knowledge sessions • 400 selected participants will get access to mentoring, funding and incubation opportunities • 40 SMART solutions will be selected from the regional or quarter final rounds (quarter-finals) • Upto 10 SMART solutions will be selected from International rounds (Singapore, North America) • The SMART 50 get to attend structured multi-day Boot camp at IIM Calcutta Campus • Further screening of plans by a jury in the semi-finals to identify 10 participants for the grand finale • Top 10 to feature at Grand finale in Delhi to select top 3 winning ideas by eminent jury • Top 50 entrepreneurs to get seed grant of Rs 4 lakhs each • Top 10 entrepreneurs to pitch for a total of Rs. 10 Cr. Funding

New Delhi, 20th September, 2017: Aligning with Government of India’s “Startup India” initiative and with the objective to promote socio-economic development driven by innovation and entrepreneurship, Indian Institute of Management Calcutta Innovation Park (IIMCIP) which focusses on nurturing innovative startups across India has announced today its major international initiative ‘Smart Fifty - 50 Solutions to Transform India’. The initiative, planned in association with the Department of Science & Technology (DST), GoI, is aimed at identifying, recognizing and rewarding aspiring and early-stage entrepreneurs from various sectors who will come up with innovative solutions which can transform India from a socio-economic perspective.  It will urge participants to present solutions that are SMART (Sustainable, Motivating, Affordable, Responsible and Transformative). The platform is also envisaged to evolve, for aspiring entrepreneurs and innovators, that facilitate success through strategic networking, seed funding, and mentoring support.

The selected entrepreneurs will get access to mentorship from the experts from IIMCIP on various aspects of business model, fund raising, and real-life lessons. On the other hand, DST will provide access to the startup ecosystem and seed fund for prototyping.

Speaking at the occasion Prof Ashok Banerjee, Director IIMCIP, said, “At IIMCIP, it is our objective to create a nurturing ecosystem for entrepreneurs   working on innovative solutions to our socio-economic challenges. We encourage sustainable, motivating, affordable, responsible, transformative or SMART ideas and provide them necessary support so that they may create a positive impact in the country. We will provide mentorship, visibility and access to funds to the participants that will help them to take their venture to the next level.”

‘Smart Fifty – 50 solutions to transform India’ was announced during the august presence of Prof. Ashok Banerjee, Director IIMCIP, Prof Ashutosh Sharma - Secretary to GoI, Department of Science & Technology, Dr. H. K. Mittal – Advisor Member Secretary, NSTEDB, Department of Science & Technology, GoI, Dr. R. Ramaraj, Chairman, IIMCIP Board, Mr. Pradeep Gupta, Director IIMCIP, Dr. Subhrangshu Sanyal, CEO IIMCIP and Mr. Sanjiv Aiyar – Director IIMCIP

Commenting at the occasion Dr. R.Ramaraj, Chairman ,IIMCIP Board said, “The objective of Smart Fifty is to identify and mentor innovative startups, working on ideas that can help positively transform India. We would gladly provide mentorship, seed fund, training and networking opportunities to the promising entrepreneurs in this field. IIMCIP has created an ecosystem with all required support to translate an innovative idea to a self-sustaining and financially independent business.”

Aspiring participants can present their business ideas in the following domains by logging on to www.smartfify.com.


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