The Entrepreneurship cell in association with Samriddhi presents to you all a great deal for yourself – PITCH TANK.
A negotiator should observe everything. You must be part Sherlock Holmes, part Sigmund Freud.” – Victor Kiam, hello Gimites! Samridhi in association with The E cell- the Entrepreneurship club of Goa Institute of Management brings you PITCH TANK- an International level pitching and investing competition wherein Teams from around the world take turns in becoming Pitchers and Investors in a Shark Tank setup.
200 Teams participated in pitching ideas for 1 Position all around the country.
General Event Rules:
- Team Size: 2-3
- All the members of the team should be college students possessing the valid id card of their respective institution.
- Participants of a team cannot belong to different institutes.
- A person can be part of only one team.
- Any number of teams can participate from one institute.
- Cross year participation from the same institution is allowed.
- There would be three rounds and qualifying teams will compete in subsequent rounds.
Rules and Regulations for Individual rounds:
Round 1: Idea Submission
Submit a business idea for a start-up which is innovative and interesting, or something that solves/caters to a real-world problem/challenge through a unique business solution/product/idea.
- This round will be conducted online.
- The teams will come up with their business idea. They may choose any industry or sector of their choice.
- The teams will then submit a one-pager explaining their idea in brief.
- Do note that the business idea submitted will be required to be presented and pitched with more in-depth details in Round 2 and 3.
- The final date of submission of Round 1 is 20th November 2021.
- Submission has to be done in pdf format only.
- Further details about the round will be communicated to all the participants in their registered email IDs on the day of the event.
- The results of round 1 will be announced on 23rd November 2021.
- The judges will select 20 teams who will proceed to the next round based on the best idea introduced.
Round 2: Business Plan Presentation
27th Nov – Round 2 gets conducted.
Platform: Online mode.
The 20 selected teams need to present a complete Investor Pitch Deck containing information such as (for reference):
- Business Model
- Financial Model
- Market Opportunity
- Target Customers
- Marketing Plan
- The Ask / Funding required
The Investor Pitch Deck prepared will be presented to a panel of judges.
Judges will select 14 Teams to proceed to the Final Round into the Pitch-Tank for a face-off.
Round 3: Pitchers and Investors Face-off!
Welcome to Pitch-Tank! In this face-off round, each team gets to be Pitchers and Investors once. Pitchers will get 5 minutes to pitch their idea to the Investors.
Half the teams are made Pitchers and half are made Investors. Therefore, we start with the teams divided into 7 Pitchers and 7 Investors.
The Pitchers pitch their start-up/business ideas to the Investors, and they need to bag funding from them.
The Investors, playing the role of Sharks, have to invest a stipulated amount of money in the ideas of the Pitchers.
The round will experience intense negotiations between the Pitchers and Investors, and may also have competitive bidding from the Investors as they fight to fund their favourite Pitcher.
The Pitchers and Investors from previous round swap places and get to be Investors and Pitchers respectively. Now the teams with new roles will go through the same process of pitching their ideas to the Investors, and Investors get to fund these Pitchers.
After both the sub-rounds, the teams will be evaluated on their Pitching and Investing acumen. And Top 3 winners will be selected.
We are happy to agree that hard work has paid-off as we have with us the winners who have triumphant after a series of rounds of rigorous competition in form of business idea proposal, business plan presentation and elevator pitch.
The Entrepreneurship Cell is delighted to announce the winners of the international event Pitch Tank conducted in association with Samriddhi.