To be able to encourage the entrepreneurial spirit, Mytrah from its barrio is hosting the Inspiring Solution Business Plan Competition. The competition calls for the best minds across the globe to present their entrepreneurial idea. The best idea will be provided with a seed fund of USD 1, 00,000 to set up their dream enterprise.
Participants from their part can enter one of three categories – individual, start up and team. The competition is open to people above the age of 18 from any vocation or nationality.
All one needs to do is harness their lateral thinking, creativity and channelize energies into drafting a business plan around their idea. In line with Mytrah’s philosophy, entries to Inspiring Solution should exude the following qualities visionary, change catalysts, perceptive to the needs of others, open, innovative and giving.
“We’re looking for thinkers, people who have courage, drive, passion, creativity and belief in themselves,” alleged Vikram Kailas, MD, Mytrah. Supplementing that – “Inspiring Solution competition provides an opportunity to make an elusive dream a concrete reality, which will create a ripple effect of positive change.”
The criteria for judging a business plan are threefold – The practicality of the solution being offered, the potential for running a business based on the solution, detailing and attention to financial projections, key metrics, marketing and sales strategies and understanding of market environment.
The finals of Inspiring Solution will be held on May 17, 2014 in Hyderabad. The top three nominees will be provided with mentorship and guidance to set up their enterprise. The last date for submission of entries is 25, April, 2014.