One In A Million is the nation wide Business Plan Contest open to pre-start-up and early stage Business Ideas. If you have advanced from the idea stage to are ready to work or are working on a prototype and have a full-fledged business plan in place, apply to one of the most well funded Business Plan competition of India – “One In A Million”. We endeavor to bring together the most committed Entrepreneurs from Startup Ecosystem across India and give them an opportunity to present their plan to the most revered Industry experts.
Lovely Professional University
23rd February 2019
Who can apply ?
The competition is open to those who have a business idea and no business experience and to those with existing businesses, as long as they meet the entry criteria. Neither group will be given an advantage.
The competition is open to individuals, teams, for-profit businesses and nonprofits ventures.
Participants/Company officers/members are 18 years or older at the time of entry.
Applicants can submit only one application
The plan must relate to an original idea for a business which is yet to be launched or is in operation for not more than two years.
New ventures that have already received funding from outside sources like VC firms do not qualify for the competition.
Duplicating or copying an already existing/recognized business or franchise is not allowed.
The principal business operations of the business must be located in India.
Businesses can include, but are not limited to Technology, Bio-Technology, Green Technologies, Medical, Health Care, Advanced Manufacturing, Agriculture and Agri-Products, Engineering, Education.
Participants that previously have won a first, second or third place in earlier Avatars of IE-Con are not eligible.
The application process for the LAUNCH would be open from 10th of December 2016 and all eligible participants can fill in the application form. Important Dates for the Application Stage are provided below –
- Application Starts – 15th November 2018
- Application Closes on – 10th February 2019, 10:00 PM
InterviewEach shortlisted selected candidate/team shall undergo a telephonic interview for the final round. Each Interview would range from 30 minutes to 45 minutes. This interview phase would 20th January 2019 onwards.
Only Final 10 teams/candidates would be selected to present their Idea for the Grand Finale.
Business Plan SubmittionEach candidate/team would be assigned a mentor to assist them in creating a Business Plan.
The Final Business Plan around their idea has to be submitted by 22nd February 2019. Failure to submit the Business Plan in time would lead to disqualification from the final round.
Grand FinaleFinalists present their Business Plan and prototype in front of panel of distinguished experts. Each candidate/team would have 10 minutes for presentation and 20 minutes of question
The winners of the “One In A Million” would be awarded with resource funding worth 1 Million USD and cash prize of INR 1 Lac .
All prize money will be given as cheques. No cash under whatsoever condition will be given.
Application submission starts
Commencement of Interviews
Application Submission Ends at 10:00 PM
Final Submission of the Revised Business Plan
Criteria for Judging
Interest generated by product/service/idea, Innovativeness, High potential, Realistic, Viable
Description of market, Competition analysis, Sales/Promotions, Unique selling point, Customer requirements, How the product/service addresses those demands
Business System Description
Description, Cash flow and value creation, Potential margin, Current stage of development, Skills to execute the plan, Marketing and sales channels, Short term goals
Clearly defined target customers, Income group and demographics of customers, Detailing the needs of customers
Effective analysis presented in summary form, Justified investment value, Clear planning of expenses, Viable exit/harvest, Offers an appropriate return on risks
Relevant skills of the participants, Experience, Strategic and execution Skills, Strength of the current team.
Sustainable Growth & Impact
Follows Zero effect on environment, Value addition to bottom of pyramid or environment, Social outreach, Public policy impact
Quality of IP
What is the IP and what is its quality? Is good use of IP being made, given the quality?
Succinct, clear, convincing description. Does it make sense? Has team identified anticipated risks?, Answers in Q&A session.
There is no offline submission for any round of the competition cycle. Participants are required to register and submit their business brief online through the Launch Application format.
Individuals may be a member of only one team. Teams may be as small as one student, and there is no maximum size, but bear in mind that there are practical limits to the size of any working group.
If the new venture has already received funding from any outside sources (angel investors, other competitions, etc.), amounts, investors and dates of funding must be disclosed in the initial entry.
Team information and other registration details can be changed anytime by logging into the Launch portal. One can even add or drop team members. This facility will be available at any time during the competition cycle.
There is no restriction on teams taking part in other business plan competitions.
The resources and example executive summary provided are only for reference.
Teams should always use their allotted registration code for any future correspondence.
Every contestant must agree with the rules of the contest and must accept the declaration during registration in order to participate. Please make sure you read the Terms and Conditions of the competition before registering.
All deadlines for submissions are final. Please note that late submissions will not be accepted.
The Organizers reserve the right to disqualify, in its sole and absolute discretion, any team from the competition at any time for any reason. Reasons for disqualification may include, but are not limited to, plagiarism and any other form of academic dishonesty, misappropriation or infringement of the intellectual property of others, and any failure to comply with these rules and regulations. Disqualified teams shall forfeit any and all prizes awarded to them.
Judging of entries will be performed by an outside panel of independent judges. The judges will consist of professionals involved in entrepreneurship and small business. Judges may be entrepreneurs, entrepreneurship faculty members, venture capitalists, business leaders, angel investors, entrepreneurial professional service providers. Please note that any entry is subject to minimum criteria in terms of market potential, viability, and other factors, as determined by the judging panel’s experience. If no entries meet the minimum criteria, prizes might not be awarded. All decisions of the judges are final.
Prize money is granted to the winning teams following Lovely Professional University policy and procedures. Teams and their resultant business entities are responsible for any tax consequences of the prize.