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IIT Kharagpur unveils its Annual Global Business Model Competition 'Empresario'

Empresario is IIT Kharagpur’s annual global business model competition. Empresario is India’s official qualifier for International Business Model Competition and has also garnered response from Stanford, Harvard and Brigham University.

IIT Kharagpur unveils its Annual Global Business Model Competition 'Empresario'
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One of the country’s oldest engineering institutions, Indian Institute of Technology (IIT) Kharagpur’s Entrepreneurship Cell recently unveiled Empresario 2019, the institute’s annual global business model competition.

The competition is being backed by the International Business Model Competition (IBMC) and is being co-hosted by Stanford, Harvard and Brigham University.

The competition is the official qualifier from India for IBMC and the best entries throughout the competition in all the categories will receive a sponsored trip and direct entry to the quarterfinals of IBMC 2019. The shortlisted entries will be provided immense help in terms of mentorship and the winners will also receive a much sought after chance to pitch their ideas in front of some of India's biggest VCs and investors.

Empresario participants are mentored and supported by organisations like TiE, NEN(National Entrepreneurship Network) etc. Startup Services like legal advice, taxation, financial, technical aspects of running a startup, co-working space, HR neds, incubation opportunities, etc. are also provided to them. It accepts business ideas in all fields which include Product and Service, Product Design and Social categories. Each entry gets equal opportunity to win the prize of ₹25 Lakhs and incubation money to the tune of ₹2.5 crore.

Previously, Empresario has been launched in association with Calcutta Angels, Villgro, Indian Angel Network and many more.

The participants will be required to fill out a questionnaire for the first round of the competition which will consist of a few questions regarding their business ideas. This questionnaire can be found on the website. As per the regulations, if the participants register now, then they can receive the Early Bird privileges.

Some of the past student startups who were winners of Empresario are:

Swagene – Swagene is transforming healthcare by pioneering personalized medicine. If you're a doctor or patient, you stand to benefit enormously in terms of time, money and precious health!

JANCH Healthcare – Janch is a mission to provide personalized, high-quality diagnosis solution on an as-needed or preventative basis.

Gamezop – It lets you play more than 100 games by installing just one app. It also uses HTML5 to allow users to play offline. It recently raised a seed funding of $350,000.

Alongside, IIT Kharagpur Entrepreneurship Cell hosts their flagship event, Global Entrepreneurship Summit (GES), every year in January. GES is considered to be the largest collegiate entrepreneurial summit in India and accordingly, the final rounds of Empresario 2018-19 will be held during GES’19.

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