IIT Bombay’s Eureka! 2023: The Biggest Opportunity For Startup Entrepreneurs

Eureka! by E-Cell, IIT Bombay is back, and it's bigger and better than ever! This annual extravaganza is Asia's largest business model competition, designed for startup founders to showcase their innovative ideas and accelerate their journey towards commercial success.

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The Entrepreneurship Cell, IIT Bombay, Asia’s largest student-run entrepreneurship body, is back with its much-awaited 26th edition of Eureka! With a legacy of 25 years, this competition has been a catalyst for young founders and leaders, offering them invaluable months of learning, networking, and one-on-one mentoring to unlock the secrets of building a scalable business.

Last year saw over 15,000 entries, a testament to the immense interest and potential in the startup world. Eureka! 2023 promises an even grander spectacle. Presented by Axis Bank and co-presented by WestBridge Capital, with associations including Amara Raja Batteries, Maruti Suzuki as the Innovation Partner, Emil Pharma as the Healthcare Partner, and Shiru Startup Cafe as the Gold Partner, this year’s event is set to be bigger and better.

What’s In It For Startups?

This competition is tailor-made for early-stage entrepreneurs, especially those in the ideation phase, who are seeking one-on-one mentoring to craft a winning go-to-market strategy. The journey is spread across three extensive rounds spanning five months.

In the initial round, seasoned mentors will take the stage, guiding founders through the process of building a robust business model, starting with the fundamentals of constructing a business model canvas. The previous edition featured industry luminaries such as Kanchi Daiya, Amit Jain, Piyush Surana, and Pradeep Rathi, providing invaluable insights.

Shortlisted entrepreneurs will then dive into an intensive mentorship round, with workshops focused on enhancing and refining their business models and products. At this stage, the founders will be evaluated based on their idea’s viability and unique value proposition.

The finalists will enter a three-day accelerator program to prepare for the ultimate showdown – a final pitch at E-Summit 24, IIT Bombay’s annual business conclave in February 2024. These chosen ventures will have the opportunity to present in front of a panel of industry experts in a closed-door event.

Rewards Beyond Imagination

Winning startups at Eureka! will seize prizes worth over 120,000 USD (INR 1 crore), including lucrative incentives like AWS Credits and free subscriptions to essential tools such as Canva, GitHub, Zendesk, and Socio Pilot. The investor jury may also consider additional funding for the standout startups.

Moreover, the best student startup in Eureka! will earn a sponsored trip to Princeton University and direct qualification in the finals of Tiger Launch, the prestigious entrepreneurship competition conducted in the USA.

A Legacy of Success

In the previous edition of Eureka!, esteemed figures such as Rajesh Mane from 9Unicorns, Reshma Jhaveri from Venture Catalysts, Rahul Baviskar from Swadeshi Handicrafts, and Douglas Peris from Hyper Accelerator, among others, served as jury members. They actively participated in the live pitching sessions held at the IIT Bombay campus on January 28th and 29th, 2023

Last year’s event winners include BlisCare, Jeevan Lite, SPARC, MyWays, DocEye, Curomates, and AI-Genix. These startups not only received acclaim but also had the opportunity to pitch their ideas on the international stage, notably at the Indian Pavilion during Dubai EXPO 2020, where several of them (lisCare, DocEye, Curomates, and AIGenx) secured spot funding.

Eureka! is not confined to India; it has expanded to six more countries in the GCC region, including Bahrain, Qatar, Oman, Kuwait, UAE, and Saudi Arabia. This international extension offers diverse incentives across multiple tracks, with a prize pool of USD 100,000 for the winners and an all-expenses-paid trip to Dubai for the Eureka! GCC finals.

The Entrepreneurship Cell at IIT Bombay boasts prestigious endorsements from UNESCO, Make in India, Startup India, and Digital India, recognizing its significant contributions to promoting entrepreneurship.

The entrepreneurial journey is beckoning, and Eureka! by E-Cell, IIT Bombay is your gateway to innovation, mentorship, and global recognition. Don’t miss this opportunity to shape your startup dreams into reality. Register now, and let the entrepreneurial adventure begin!


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