Considering the overwhelming response from budding entrepreneurs, Innovation Mission Punjab— a unique public-private partnership to promote entrepreneurship in Punjab, has extended the last date to submit applications for ‘Roar- Punjab’s Biggest Idea Hunt’ to December 15, 2021. Initially, the deadline to submit business ideas for Roar was November 15, 2021.
Startup Punjab Cell, which is the nodal agency for developing the startup ecosystem in the state for promoting innovation, entrepreneurship and startups has been working in close collaboration with Innovation Mission Punjab with aim at transforming the economy of Punjab by targeting the State to be among India’s top three innovation hubs. The Idea Hunt will serve as an opportunity for the participants to interact with successful startups and industry leaders and gain mentorship from global experts.
Industries and Commerce Minister Gurkirat Singh, while affirming that Roar is a welcome step being taken by Innovation Mission Punjab, exhorted the budding entrepreneurs to grab the opportunity.
“Punjab is known for its entrepreneurial spirit, and I am sure enterprising people from all over the state will make the most of this opportunity by applying for the Idea Hunt in large numbers,” he said, while assuring that Government of Punjab will extend all possible assistance to startups and budding entrepreneurs every step of the way in their entrepreneurial journey.
Pertinently, the winners of Roar, an open-ended startup contest, will be entitled to cash awards including a cash award of Rs 2 lakh for each of the top three winners in the early-stage startup category, a cash prize of Rs 1 lakh each for the top three winners in the idea stage, and cash prizes of Rs 1 lakh each for the best women-led and social impact ideas. While all the winners will be provided free co-working space for three months at the new office and accelerator coming up at Kalkat Bhawan as a major incentive, the best early-stage startups will get a jumpstart to the final screening round for the Accelerator program and the best startup ideas can also directly compete for the Pre-Accelerator program. The Accelerator and Pre-Accelerator programs will serve as platforms to support early-stage and idea-stage entrepreneurs, respectively.
Chairperson Innovation Mission Punjab Pramod Bhasin said, “Roar is a first step to encourage aspiring entrepreneurs to come forward with their ideas and innovative approaches that will shape the economy of Punjab. We are looking to turn Punjab into India’s startup powerhouse and a role model in the startup landscape of the country by empowering would-be entrepreneurs and helping them realise their ambitions.”
Innovation Mission Punjab and Startup Punjab are inviting both idea-stage and early-stage startups led by students, homepreneurs, women, young professionals and all those with a passion for entrepreneurship, irrespective of age and qualification, to come forward and apply for this startup contest. The event will serve as a platform to help validate ideas and pre-launch products or services. Interested applicants who have conceptualised their startup ideas or are in the process of giving them a practical shape can register their entries at https://www.impunjab.org/event/roar/ and reach out to contact@impunjab.org for further details.
After the initial screening of applications, the shortlisted ideas will go through virtual idea validation and pitch workshops in batches with different juries, where the top 25 ideas will be selected to undergo a week of rigorous training and mentoring to fine-tune their ideas. Of these, the top 10 teams will get to pitch their ideas to a stellar jury comprising eminent investors, entrepreneurs, business leaders and senior government officials. Early stage startups will also go through initial screening and the most promising ones will pitch to a grand jury to compete for the top three positions.
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Meanwhile, the Mission has also partnered with many renowned institutions across the state as part of this initiative, including the Thapar Institute of Engineering and Technology (TIET), Indian School of Business (ISB), Indian Institute of Science Education and Research (IISER), Punjab Agricultural University, and Centre for Innovation and Business Design.