What is your next big idea?

"The process of taking ideas to the next level leading to commercialisation can be accelerated through provision of knowledge, expertise and policy support. ‘Next Big Idea,’ program aims to realise the objective through collaboration  of industry with the academia and government," said Harkesh Kumar Mittal, adviser and member secretary, National Science and Technology Entrepreneurship Development Board, Dept of Science and Technology. 

Next Big Idea aims to create a forum where in any individual or team can post their ideas and seek mentoring or access to angel funds to help them create a real business. "The need of the hour is not just to help hasten venture creation but also nurture right ideas that have the potential to become trendsetter of tomorrow," said Rahul Bedi, Director Corporate Affairs, South Asia, Intel.  The programme also includes capacity building measures such as offering financial support to competitions and conducting a two-day fully paid conference at IIM Bangalore. "Next Big Idea seeks to provide a perfect opportunity for entrepreneurs to showcase their ideas and get evaluated by experts in an extremely competitive setting," said Professor K Kumar, Chairperson of NSRCEL.

Entries open from Oct 1

Champion of Champions category, where the top three teams of any business plan competition held in India during April 2010 and December 2010 can apply. Last date for submission of Detailed Business Plan is January 15, 2011. Entries will be open from October 1.

Open Challenge category, where any individual or team with a bright idea can apply. Last date for submission of Executive Summary of Business Plan is November 30. The incentives to the 40 winning teams include a chance to be incubated and raise seed fund up to Rs 50 lakhs from NSRCEL, one week of fully paid workshop at IIMB and an opportunity to interact with VCs; 10 cash prizes with a purse of Rs 25,000 to 1.5 lakh and a sponsorship to participate in the University of California, Berkeley Technology Entrepreneurship Challenge for the top three teams.