Business Executive Summary Form - Idea's 2011: Guidelines
Business Executive Summary Form - Idea's 2011: Guidelines
Business Executive Summary Form - Idea's 2011: Guidelines
Guidelines:
At this stage of Idea’s, this form seeks to ascertain genuine interest among those wishing
to undertake a business Endeavour. Any Individual is required to complete the Executive
Summary form for participating in the First Round of Idea’s 11. Information sought is
under three broad heads:
1. Personal Details:
Email Id :
Mobile No. :
Pin Code :
1. Education*:
Please fill details of highest academic qualification:
Diploma :
Graduation :
Post-Graduation :
Professional :
2. Experience*:
Full time work experience (in years) :
(Give details of the last three positions held, beginning with the most recent)
3b. Describe how you and your existing (or future) team
are equipped to grow your business?
(Describe yourself and your current/planned team with reference to relevant qualifications,
experience and capabilities, detailing how these would enable you to implement your plans.
Investors must be able to assess, and get comfortable with, your ability to implement your plans..
Word limit: Up to 250 words)
4. Describe the market your idea will operate (is operating in)?
How large is the market? How do you see the market growing?*
(Please take the Evaluating Panel through a description of the market you are
operating/planning to operate in, highlighting the gaps and opportunities, the customer
need you are satisfying, the market leaders, the size & scalability, trends, competition
etc. The Evaluating Panel must be able to appreciate your knowledge of the space and
the proposition/business idea. Word limit: Up to 250 words.)
(Example – In Mumbai alone, more than 1 crore people travel every day between home
and office.
All over India, this adds up to more than 40 crore (as published in NUMBER magazine).
75% of these people use public transport like buses, shared tempos and local trains. The
remaining 25% use their own vehicles. While quite a few start-ups, including Carpool.com
and Mericarmeinaao have earlier tried to make the process more efficient by organizing
Car Pooling – none of them worked
as they were not able to solve the fundamental issues of mistrust of strangers, time
coordination and changing schedules. The few instances when car pooling has worked
is when IT companies have encouraged it amongst their employees through parking
benefits. The advent of new technology and by combining GPS, Mobile VAS and Social
Networking, one can solve this problem.)
5. Describe your product/service. How does (or will) it help the customer?*
5. Describe your product/service. How does (or will) it help the
customer?*
(Present your product/service and its Unique Selling Proposition (USP) - including any
Intellectual Property and other entry barriers you may be creating, the kind of customers
& geography segments you will be addressing, et al, highlighting any validation that you
may have done that supports your proposition. The Evaluating Panel must be able to
clearly understand your business proposition. Word limit: Up to 250 words )
(Example – The typical 1 ton window air conditioner would add to the household
electricity bill by approximately INR 1000 during the summer months. My product is a
small apparatus which will cost INR 1000 and will connect to a ceiling fan, helping in
cooling and moisture control. This will be 80% as effective as a window air conditioner
while the extra electricity bill will be of only INR 150 during summer months. It uses the
principles of Reverse Chongo Circulation where neutrons are collided with ambient air
to separate water and cool the air. I have also received a patent for this the details for
which are….)
6. How do you plan to sell/distribute your product/service?*
(Present your distribution plan. Feel free to split it into stages, if so required. Mention how you
would achieve scale, the kind of marketing partners you will look for (if any) etc. Word limit:
Up to 250 words)
(Example – Initially we will conduct research in South Delhi to get market feedback on the service.
Once a stable product has been developed and we have sold 1000 units, we will appoint
distributors for each state. The plan will be to use established distributors currently involved in
distribution of electronic SIM cards and other mobile accessories. With increasing influence of
ecommerce websites, we will also make our product available on eBay, flipkart etc.)
(Those with an existing business should summaries their past years’ revenues and profits and
project the same for the next three years (if applicable) in a tabular format. If you are in the
planning stage, please share projected revenues. Word
limit: Up to 250 words)
(Example – I have invested my own funds of a value of INR 50 lakh in the business till date. We
started selling the product only two months ago and the revenue since then has been a total of
INR 6 lakh. Now that the model is proven, we intend to scale up and will require an investment of
INR 1 crore. Of this, we can manage INR 20 lakh from friends and family and are looking for
external support of INR 80 lakh. Since half that value will go into inventory development, we will
be able to avail a bank loan for the same. The remaining will be used for buying equipment and
hiring a lathe mechanic. With this investment, we should be able to easily achieve a revenue of
INR 2 Cr in the next financial year and hope to grow the revenue by 70% year on year. This is a
highly profitable business and margins will be
higher than 30%. )
PLACE :
DATE :