Business Executive Summary Form - Idea's 2011: Guidelines

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Business Executive Summary Form – Idea’s 2011

Guidelines:

This is the participation form for Idea’s 2011.

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:

 A brief profile: BASIC INFORMATION for public consumption. The information


here will be sought to promote entrepreneurial culture in India.
 Business Summary: for the evaluation panel. The information will be treated in
complete confidence and will be seen only by the evaluating panel. All rights of
your idea will vest with you.
 Operation Details would help the evaluating panel to judge your level of
preparedness.
 You are requested to provide Information on all parameters and in case you are
unable to answer, write the reason or mention NA. No field should be left BLANK
or UNEXPLAINED otherwise the form will be regarded as INCOMPLETE by the
evaluating panel. At the same time, you are not compelled to share too much of
information at this stage
 You can participate either as an individual or as a team. One thing to be
mentioned is that if the team comprises solely of IITK students then only the team
will be eligible to compete in the INTRA-IITK Idea’s round otherwise it will be
automatically competing with the entries all over the country and abroad.
However, the BASIC INFORMATION and the PERSONAL DETAILS in the business
summary format will be those of the Leader/Representative/The Individual who
will act as the team’s representative at this stage.
I. BASIC INFORMATION
(Mandatory fields marked with an asterisk *)

1. Personal Details:

Title First Name Middle Name Last Name


Name*:

Email Id :

Mobile No. :

Date of Birth* (MM/DD/YYYY) :


State* :
City* :

Complete Current Address :

Pin Code :

Landline Number with STD Code :

2. Which Industry does your Business Idea cater to?*


SECTOR PRIORITY
Electronics & Hardware
Telecom
Healthcare
Media & Entertainment
Manufacturing
Clean Technology/Alternative
Fuel
Agriculture
Retail
Food & Beverages
Financial Services
Applications & Services

Others Please Specify*:


3. What impact do you believe your idea will have on your defined
market?*

(Since this is for public consumption, please do not disclose either


your business idea or any of its details. Please talk of only the end-
benefit your business will have. Word Limit: Up to 100 words )

(Example – The product that I intend to make will help a housewife


start a business in a short while, to utilize her spare time. Not only
will this supplement the income of the household but will also
cause her morale to be higher. They will also be more in tune with
the environment around them and this could even have a positive
impact on the upbringing of the children in the household. )
II (a): PEOPLE
(Mandatory fields are marked with an asterisk *)

1. Education*:
Please fill details of highest academic qualification:

Diploma :

Graduation :

Post-Graduation :

Professional :

Others Please specify :

2. Experience*:
Full time work experience (in years) :
(Give details of the last three positions held, beginning with the most recent)

From-To Organization Designation Function/Role


(MM/YYYY)

3. Do you have a team?* Y/N


(Participation in this programme is not subject to having a team.
These details are sought only to give the Evaluating Panel a clear picture of your
preparedness.)

3a. Give details of full time team members


(Maximum of 3) with their background.
Name of Team Role Highest Educational Relevant Work
Member Qualification Experience

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)

(Example – The initial phase of the business will require product


development and testing skills. My partner (BE – Computer Science
from J.B. Lal Institute) can look after new development while
I will take care of strategy & finance. We intend to recruit a ceramics engineer from an REC to
aid in development. Once the product is ready, we will induct a marketing person with more
than 4 years of experience in the ceramics domain and look for 3-4 people for the sales &
marketing team. Since production will be mostly outsourced, my partner and the REC recruit
will be able to take care of the same.
II(b). BUSINESS IDEA
(Questions 4-7 are mandatory*, failure to fill which will disqualify your entry from the
programme. In case you are unable to answer a question, please write the reason in the
given space.
Please do not leave any question unanswered)

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.)  
             
             

III. OPERATIONAL DETAILS          


(The questions in this section will help the
Evaluating Panel understand your degree of
preparedness.              
Please fill as much as possible based on relevance to your current stage of business*.  

7. Current state of development


1. Is a prototype ready or has a pilot been done?
Ans->
2. In case of a product/process, has a patent been applied for?
Ans->
3. If patent has been granted, give patent details.
Ans->
4. Has the company been already registered?
Ans->
5. If yes, provide company name :
6. If yes, please provide date of registration(MM/YYYY):
7. If you have company/project website, please provide the URL:

8. What are the next steps you have in mind to


take this business/ idea    
forward?              
(Talk of what stage your product/service is currently in and what steps you need to take to grow
the business further. This will also be a good place to talk of the challenges you are facing. Word
limit: Up to 250 words)            
               
(Example – We have been running a diagnostic lab based on liquid hydrogen technology in my  
parents’ basement. Our service involves taking blood tests from patients’ homes, on request, and
then emailing the test reports to them. To take the business to next level, we need to import  
Particle Separator machines from the US which will ensure that we are able to achieve 10 tests
per second. We will also need to set up a bigger lab and better maintained environment. Also, a
sales and marketing team will also need to be hired that will also help in cementing partnerships
with drug manufacturing companies. )          
9. Give details of the investment already
made in your idea.
     
(For those who are running a business, please share details of total investment till date. Those  
who have just started should give broad details of any investment made – either by themselves,
by their families or by venture capitalists. If no investment has been made, please mention ‘none’.
Word limit: Up to 150 words)          
 
 

10. Give details of Revenue


Actual FY 09-10 Revenues (for existing business) : __________INR

Projected FY 10-11 Revenues : __________INR

(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%. )      
               

I, ________________ HAVE UNDERSTOOD THE TERMS AND


CONDITIONS OF THE IDEAS’11 AS LISTED ON www.ecelliitk.in/ideas,
AND I RSOLVE TO ABIDE BY THEM.

PLACE :

DATE :

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