IITRHF - Idea Storm B-Plan Competition 2019 Results
The cash awards are made possible by a generous grant from Mr. Raj Singh (EE, 1968)
IITRHF partnered with the E-Summit organized by IITR's E-Cell in Feb '19 under Entrepreneurship Mentoring Program. IITRHF sponsored cash awards to top 3 IITR business plan entries for a total of INR 1 lac.
Idea Storm is the annual business model competition organized by Entrepreneurship Cell, IIT Roorkee in its flagship event, the E-Summit. This year, IIT Roorkee spectacles over 25 Teams from IIT Roorkee, showcasing their business, vision, and novelty. Top 12 B-plans from IIT Roorkee that are judged as the best, got mentor ship from our pool of partner mentors consisting various angel investors, venture capitalist, industry leaders etc.
First Prize: Industry Integrators
Their idea is to start-up a waste management firm which is going to act as an aggregator between multiple industries to find by-product synergies or co-production through an asset-light model. In multiple scenarios, a waste/ by-product generated by an industry ‘A’ could be used as an input by an industry ‘B’ or multiple industries as well. For e.g. Mild Sulphuric Acid generated by Alum Industry, Lime sludge generated by Paper Industry when mixed in ambient temperature, produces ‘Gypsum’; this could act as a major input in the cement industry. Planning to have a B2B or a B2G model depending upon the synergies created. This is not widely implemented currently because the utility of time invested in discovering such synergies isn’t worth industries’ money, and moreover, their domain of knowledge stays limited. Hence, currently, the majority of this waste is dumped in various manners according to the producer’s ease. The laws towards this manner are only going to be stricter hence, creating more opportunity for our business to prosper.
Second Prize: Les Cinq Fantastiques
Their idea is to build a community of researches, professors, students, and scientists. A platform for research students to contact with knowledgeable professors and get their work reviewed. Platform for collaboration of students and researchers for a project and free and secure flow of information for boosting research. They are currently working on building a community in Roorkee region and are planning to scale up to entire Uttrakhand in a year. They are creating the following value propositions for a professor: Reviewing fees, Recognition of their work, Knowledge growth, Help in industrial collaboration and for a student as Professional Guidance and Support, Review of their finished or unfinished work, Recognition of their work, Opportunity for Interesting Projects.
Third Prize: SCRAPP
A group of social entrepreneurs who are willing to create value out of the waste produced by our society. Pollution and unemployment are two major problems of our modern world which we will be targeting and are looking forward to eradicating these by our business plan. SCRAPP means Sustainable Collection Recycling and Planning of Plastic. In India, there are no big players in plastic waste management industry. There is a huge potential in this waste plastic.
They have designed some machines like the shredder machine, compression machine etc which can convert plastic waste into upcycled products. These machines are easy to use and person require no skill to operate them. They will be setting up Integrated Plastic Upcycling Workspaces (IPUWs) in villages where local villagers will operate them and make products by the use of these machines. These machines and manufacturing process works on plastic.
Students' feedback for our efforts
Notable IIT Roorkee Entrepreneurs:
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