The newly formed GD Goenka Technology Business Incubator (GDGTBI), GD Goenka University, Gurgaon organised IDEA 2020 on 7th April 2020 at the University campus. The event was inaugurated by the Honourable Vice Chancellor, Prof. (Dr.) Deependra Kr. Jha, Head GDGTBI & Student Welfare, Prof. (Dr.) Tanuja Kaushik, deans of all schools and distinguished jury members during the Introductory Session in the morning, which also witnessed a cultural programme, a gidda and bhangra performances to celebrate the  season of Basant. The event was attended by officials of the University, invited guests, parents, alumni, faculty & staff members, students and over 600 participants from across the colleges and universities from Delhi-NCR.

IDEA stands for Inspiring and Developing Entrepreneurial Acumen. The event was a unique encapsulation of creativity and business, involving young students from various disciplines across Business & Management, Communication, Engineering, Fashion Design, Hospitality and others. The aim was to nurture entrepreneurship based skills among young students. It comprised of two separate events: Elevator Pitch Competition and Display Stall Competition. While the display stall competition had over 80 stalls, the Elevator Pitch competition drew 140 participating teams!

A critical success factor for the event was the participation of 25 expert jury members, who were senior corporates, entrepreneurs, venture capitalists and representatives of seed funding ventures. They gave their valuable inputs to all the budding entrepreneurs and rated the best amongst them for the two competitions.

The Elevator Pitch Competition

Groups of 1 to 3 students formed each team in this event. Each team came forward to pitch their business concept within a short stipulated time. Their motive was to convince the expert jury to buy into their concept. There were 5 sub categories under this competition and 1 winning team from each category received the cash prizes and trophies.

In addition, two exceptional business concepts won special prizes.

The Display Stall Competition

In the Display Stall category, students exhibited and sold their own original products which ranged from mouthwatering dishes to various types of entertaining games and fashion accessories as well! The 3 best stalls were adjudged by the esteemed jury and students were awarded cash prizes and trophies.

Most importantly, many of the stalls made significant profits upto Rs.25000, which proved the robustness of their planning and execution and aptness of their product offerings.

The days proceedings ended with the Valedictory Session, presided over by the Honourable Vice Chancellor Prof (Dr.) Deependra Kr. Jha. This was followed by the prize distribution ceremony and a Vote of thanks by Head, GDGTBI & Student Welfare Prof (Dr.) Tanuja Kaushik.

Some valuable comments from the esteemed members of the jury have been captured verbatim showcasing the efficacy and success of IDEA 2020:

Vinod Giri, Founder Director of Greystone said, “ Very good initiative. Very happy to be here and to interact with students, listen to fresh ideas, watch the energy and share their passion. Thank you G D Goenka University for calling me. Best of luck to all students, faculty and the staff.”

Bhavya Goel, CEO and Founder of AEOM Couture said, “Brilliant initiative by the University. Great potential and pool of talent out there that needs to be incubated. More such events will promote entrepreneurship amongst young minds! Happy to be a small part of this wonderful initiative. All the best!”

Sabeena Khanna, Founding Principal of Studio Kia said, “Wonderful initiative y G D Goenka University for creating and conceiving this platform for the young entrepreneurs. Great exposure for the students by having a well rounded jury from across all spheres and walks of life. The IDEAs put forth were very creative and innovative. Good luck to all.”

Harinder Sarmal, Founder of Betterdaddy.com said, “A nice initiative by G D Goenka University to give a platform to budding entrepreneurs.”
Ashish Kumar, Team Leader of Jakson-Empowering People said “Amazing podium for fresh minds to pitch, looking forward to the pulling off by a student of a start-up.”

Sakshi Khanna, Co-Founder of The Open said, “Great initiative on behalf of G D Goenka Universty to open avenues for young entrepreneurs who have creative ideas. Keep going on this initiative every year.”

Kamini Talwar, Director of Iris Global Services said, “Thank you G D Goenka for giving us the opportunity to be the jury for the IDEA event. I must say, met the youth of India with futuristic ideas. Fabulous event.”

Abhishek Chandra, Head of Corporate Business at MobiKwik said, “A sincere effort, inspiring initiative that aims to enlighten and bring together the business community. Honoured to be a part of this wonderful pro-active venture by G D Goenka University. Thank you!”

Shweta Sharma, Founder of Collaborative Climate said, “Very good initiative, happy to be here”.

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