As part of its three-city US-India Startup Forums in Delhi, Bangalore, and Mumbai, the American Bazaar is hosting startup competitions. (Winners have already been selected from Delhi and Bangalore.) Startups are encouraged to apply to enter the competition in Mumbai, which will be held at the third Startup Forum on February 22, 2017.
After registering for the event, submit an executive summary of your project with your company information via email, including business plan details, to email@example.com . If you have a promotional video, feel free to send it as well. However, videos are optional.
The participants will present their two-minute elevator pitches before a panel of judges, investors, entrepreneurs, business leaders and the general audience.
The American Bazaar will bring the winner from the Mumbai event, along with the winners from the Delhi and Bengaluru events, to the United States later this year to make presentations before US investors.
Rules and Regulations
- The principal business officers/members must be 18 years or older.
- A startup based anywhere in India can apply. The fee is Rs. 5,000.
- The plan must be an original idea for a business.
- Businesses can include, but are not limited to: information technology, bio-technology, medical products, green technologies, advanced manufacturing, and engineering.
- Changes to Competition Rules: While not anticipated, these rules and prizes are subject to change at the discretion of The American Bazaar at any time. The Bazaar has the right to interpret these rules according to its own judgment.
- Nature of Ventures: The competition is for new, independent ventures in the seed, start-up, or early growth stages. Generally excluded are the following: buy-outs, expansions of existing companies, real estate syndications, tax shelters, franchises, licensing agreements for distribution in a different geographical area, and spin-outs from existing corporations. Licensing technologies from research labs is encouraged, assuming they have not been commercialized previously.
- Prior Activity: Technologies may be presented in this competition only once. Competing team members may participate in this competition more than once if entering with a new venture/new technology. Ventures that have raised more than $250,000 in equity capital from other sources are excluded. Ventures with previous year’s revenue exceeding $500,000 are excluded. Ventures that have raised more than $2,000,000 in debt are also excluded.
- Winning presentations: Representatives of the the winning startup will be flown in to the United States this year for meeting with US investors and making their pitches.
- The judging panel will evaluate the plans on the basis of:
• Reasonable opportunity for success of the company
• Company meets an identifiable need
• Originality of your product or service in the market
• Company has a believable competitive advantage
- In the event of a tie, judges will select the plan that has the higher score under “Reasonable opportunity for success of the company.” All decisions regarding the criteria will be made solely by the organizers and hosts. All decisions of the judges are final. These Official Rules and the decisions of the judging panel are final and binding in all respects.
- Confidentiality: By the submission of your Business Plan, you understand and agree that a short description of your Business Plan will be considered a “public summary” of your plan and may be used in public documentation related to the competition.