1. How do I apply for #GotanIdea Challenge 2017 (Season 2) ?
Register and create an account at www.gotanidea.aarambh.ventures. Submit your application from your registered account. This will let you revisit and update your application as many times as you like till the final submission and also receive the feedback.
2. What is the registration process?
Step by step process:
1) Register with your email id and phone number at Sign Up.
2) You'll receive a verification mail at your registered email address.
3) Login your email account and click on 'Verify Now' to authenticate your credentials.
4) You are done with the registration.
3. How to submit the ‘Startup Application Form’?
1) Please click on Sign In into your account using your registered email id and password.
2) Click on Application Form in ‘My Account’ and you’ll be directed to the Startup Application Form (SAF).
3) Navigate through various tabs to complete your SAF. You can fill/edit the form as many times as you like till the final submission.
4) When you have completed the application and are satisfied click on Submit button to complete the submission process. Note that after submission you cannot make any more changes to your application.
4. What kind of ideas or business plans are eligible to apply for #GotanIdea Challenge 2017 ?
Ideas OR ventures OR Companies which require upfront investment in CAPEX and are commonly dependent on traditional debt and are unable to access alternative sources of capital like angel fund / venture capital fund, are eligible to apply.
5. What is Startup SMEs ( Small & Medium Enterprises) ?
The ability of Startup SMEs ( those involving innovations and new technologies and require upfrontinvestment in CAPEX ) to access alternative sources of capital like angel fund / venture capital fund islimited. SMEs commonly use traditional debt, this type of financing is often not accessible for fast growth startup SMEs.
6. Within Startup SMEs, any specific sector ?
Startup SMEs working in fast growing & dynamic sectors viz media & entertainment, emerging technologies, life sciences, health care, biotechnology, food & agriculture and manufacturing.
7. What kind of ideas or business plans are not eligible to apply #GotanIdea Challenge 2017 ?
Consulting, training and other professional services businesses are not eligible to apply for #GotanIdea Challenge 2017.
8. I have an idea in Non - Profit space ( Society / NGO / Section 8 company) . Can I apply for #GotanIdea Challenge 2017 ?
No. For profit social enterprises ( Socents) registered or planning to be registered under The Companies Act 2013 are eligible to apply.
9. I am currently pursuing final year at my college ? I've a good idea which falls into the eligibility criteria i.e. Startup SMEs. Can I apply for #GotanIdea Challenge ?
Yes ! you can. But, you have to have some Proof of Concept (PoC) or some research done to prove the validity of your idea. We encourage all college students to apply for #GotanIdea Challenge.
10. What are the different stages of #GotanIdea Challenge 2017?
1) Register and create an account at www.gotanidea.aarambh.ventures.
2) Submit your application from your registered account.
3) All entries will be screened for completeness and eligibility requirements.
4) About 10 entries will be selected to advance to the next round based on reviewer feedback.
5) Selected 10 entries will be required to undergo one on one mentoring session (online / offline) for a period of 15 days to receive focused coaching and mentoring to help them further refine and develop their plans and pitches.
6) Each team will make a presentation in person at a location ( to be confirmed)in Gurgaon, Haryana (INDIA) to the Judging panel. Exception may be made for online presentation if absolutely necessary but cannot be guaranteed and is not encouraged. The panel will consist of successful entrepreneurs, domain experts, academicians & industry veterans.
7) The Judging Panel will evaluate the pitches and the final businesses plans and determine the top two winners.
11. If selected as a winner of #GotanIdea Challenge, what is the procedure of getting prize money of INR 15 Lakhs / INR 5 Lakhs as seed investment ?
Our unique milestone & mentroing based startegy is executed by a team of successful entrepreneurs. The investemnt schedule is spread over 6 months and is linked to the certain performance based indicators, during the acceleration at Aarambh. Basis, those performance indicators / milestones, the seed investment money shall be transfeered to the winning startup.
12. If selected as a winner of #GotanIdea Challenge, at what valuation, we'll receive this seed investemnt into our company ?
Once selected, the valuation of the startup will be discussed and mutually agreed between Aarambh Startup Advisors Pvt. Ltd and the winning startup. Basis that valuation, the seed investment will be made into the company. If the startup and Aarambh fails to develop a common consensus around valuation, the first runner shall be announced as the winner of #GotanIdea Challenge 2017.
13. We don't have a leagl entity ( Pvt Ltd Company) registered yet, can we apply ?
Yes ! you can. If selected, we'll help you register your venture. Once the legal entity is in place, you can receive the prize money as seed investment into your company.
14. Do we have to be physically present at Aarambh's office in Gurgaon for 6 months acceleration program ?
No ! you don't have to. Basis the stage of your venture, we'll mutually decide the location for acceleration program.
15. Where to connect in case of any queries and concerns?
Email your questions and clarifications to us at firstname.lastname@example.org OR call us at +91.7988669530.