24 October 2017
The Economic Times launched the 2017 edition of The Power of Ideas, India's largest startup platform for aspiring and budding entrepreneurs, on Tuesday, 24 Oct 2017.
The Economic Times Power of Ideas inspires and helps both dreamers and doers to translate their business idea into a business summary, before they are mentored and funded on their way to launching their enterprises. First launched in 2009, it has since received over 60,000 ideas that have translated into 215 successful startups that obtained funding worth Rs 69 crore.
Facebook presents The Economic Times Power of Ideas 2017 in partnership with Department of Science & Technology (DST), Government of India and the Centre for Innovation Incubation and Entrepreneurship (CIIE), IIM Ahmedabad. Facebook has been championing innovation and entrepreneurship worldwide. With this partnership, Facebook hopes to be able to work closely with India's huge pool of talent, and to create growth opportunities by providing access to expertise and mentoring through multiple programs. DST brings forth the government's strong impetus to foster entrepreneurial culture in India, and CIIE manages the entire value chain that runs the program by way of its wide and able network of mentors and investors who evaluate every single business idea received as part of the program.
The Power of Ideas is open to all Indian citizens - anyone and everyone with an idea and a dream to start out on his own. It will run over four phases - from submission of initial business summaries, to award of funds. The first phase - involving registration and submission of business summaries - closes on 13 November 2017.
The ideas shortlisted in the first phase will undergo group mentoring sessions, followed by Elevator Pitches. A second shortlist will be prepared post Elevator Pitches, and these candidates will undergo an intensive residential mentoring program at IIM Ahmedabad. After the end of the residential session, all candidates will present their business plans to an investment committee that will prepare a final shortlist of candidates who will take home cash grants and/or seed funds, worth a total of Rs 6.2 crore.
More details on The Economic Times Power of Ideas are available on the program website at www.etpowerofideas.com. Those interested can also connect on Facebook (www.facebook.com/etpoi) and Twitter (@PowerOfIdeas).
The Economic Times is India's leading business daily, and covers news, views and insights on a wide variety of topics relevant to business people and working professionals.