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ConQuest 2006: Promises and Challenges
By Uday Kiran Medisetty
It’s a unique
business event that helps to transform ideas into reality. This
business-plan competition includes intensive mentoring by industry
champions and a rigorous simulation involving real-life start up
conditions.
It was open to all students and corporations in the country. It
received business plans from all industries – IT, Manufacturing,
Pharmacy, Health Services, Rural Development, Infrastructure,
Biotechnology. The event was organized in three phases: Conquest Camp,
Conquest Focus and Conquest Finale
In Phase 1, students of recognized Indian universities and interested
individuals with viable commercial ideas submitted the executive
summaries of their business plans. The sixty eight entries received for
Conquest 2006 were screened by a panel of prominent CEO’s and
VC’s. The short listed teams after Phase 1 were:
1. Surgitailing – IIM Bangalore
2. Cynosure - BITS Pilani
3. Priyamvada – Corporates
4. iViZ Techno Solutions - IIT Kharagpur
5. Q Currency - IIM Bangalore
The five short listed
teams were put across to eminent entrepreneurs. Mentoring involved
interacting with the team to refine their business plan, giving them a
first-hand insight into the business processes in the domain of the
plan and helping them plug loopholes.
In Phase 3, Conquest Finale, the short listed teams presented their
business plan to a panel of Venture Capitalists and Judges. The teams
then underwent a process of business simulation where their abilities
to react to different hurdles, opportunities and obstacles at various
points of time are tested. The Conquest finale was held at BITS Pilani
from Feb 17th – 19th, 2006.
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CONQUEST 2006 Winners
First Prize: ViZ Techno Solutions IIT Kharagpur
Second Prize: Piyamvada,
Corporates |
DAY 1 - FEB 17TH
“Pitch it to VC”: Each team was given 15 minutes to pitch
their idea to a prominent Venture Capitalist. “Scenario
Simulation 1”: The teams were given two scenarios which they
might encounter once they start off their venture. The judging was done
based on their analysis and decision making. These scenarios were
specific to each plan.
DAY 2 - FEB 18TH
“Business Plan Presentation”: In this round, the teams
explained their business plan in detail to the judges for 45 minutes.
“Scenario Discussion 1”: Teams made a presentation to the
judges explaining their action to the scenarios given to them the on
the previous day. “Scenario Simulation 2”: A scenario which
is common to all the teams was given; this scenario was a potential 10X
change in the business environment. The teams needed to identify new
opportunities and threats and adopt new strategies.
DAY 3 - FEB 19TH
“Scenario Discussion 2”: Teams discussed with the
judges about the new strategies they have adopted to face a 10X change
in the business environment, which was simulated the previous day.
"Open Door Session”: This happened in the main auditorium of BITS
Pilani. Here the participants were tested on their soft skills and
their ability to manage a business. This is followed by Prize
Distribution Ceremony and Valedictory Ceremony.
Judges and mentors included Ashmeet Sidana, Venture Capitalist,
Foundation Capital, USA, Vivek Mansingh – Country Manager, DELL
India and other distinguished venture capitalists and technology
professionals.
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