Business plan contest to encourage startups, SMEs during coronavirus enforced lockdown

Mumbai: In an effort to promote aspiring entrepreneurs amid the lockdown-induced situation, a group of technocrats has organised a business plan contest to encourage future industrial leaders, an official associated with the event said.The aim of the Bigleap 2020 online business plan contest is to promote startups and new ideas, the official said, adding this is a business plan pitch competition to boost innovation and the spirit of entrepreneurship.The contest aims to aid youth by granting exposure to real-world opportunities, getting business plans judged by highly accomplished personalities, providing mentoring from specialists and opportunities for exploring government schemes to promote entrepreneurship and new ventures, he said.[caption id="attachment_2252204" align="alignleft" width="380"] Representative image. Reuters[/caption]The Nation Builder Dr Babasaheb Ambedkar Vichar Mahotsav Samiti, which is hosting the contest, said the winner will walk away with Rs 10 lakh. The deadline for registration and online submission on www.bigleap2020.in is 10 May."This contest is a fantastic initiative. I hope this will send a very positive signal among young entrepreneurs," Harshadeep Kamble, Secretary (Small and Medium Industries) and Development Commissioner (Industries) of Maharashtra told PTI.In the preliminary evaluation, the applicants will be evaluated based on their ideas and business model and on the final pitch day, those shortlisted will need to present their pitch deck in the stipulated format.The winner would be announced by the month-end, Kamble said.