After a successful event last time around, we at Supreme Incubator decided to host the Virtual Entrepreneurship Fest once again to give the young entrepreneurs of the country a chance to showcase their skills and learn something in the process.
The event had a three-tier structure; the first round was the innovative and intuitive Bidding War, where teams were given a list of words and they had to bid and acquire 3 words using a limited number of credits and build the idea surrounding those 3 words within 72 hours. The teams not only managed to come up with brand new ideas within 3 days, which alone is commendable, but they impressed us with their imagination and ingenuity. Words like Aquatic, Recycle & Gun were used to make a radar that would locate plastic waste underwater and convert it into fuel thereby theoretically solving the imminent global fuel shortage. Conversely words like AI, Juice & Alcohol were implemented to make the world’s first inorganic mixologist!
This event could also not have been possible without the support of our sponsors - who pledged to provide the winners with startup support as prizes.
The second round saw the shortlisted teams working on their own idea, but with a twist! Instead of simply putting in words what their idea was, the scenario given to them was that they had to build a graphic detailing their idea which would be used to invite investments from Angel Investors. This was a hard-fought round as teams came out all guns blazing with their creativity and in the end the most difficult task fell on us - which was choosing the top 9 out of a plethora of spectacularly made graphics!
The Third and Final Round was a live-pitching and Q/A round. For this we sought the help of industry veterans within our network who served as the jury. Divyan Gupta - a Senior executive leader with 21 years of experience and expertise managing revenue, cost, profitability and growth objectives within Start-Up operations, Shivang Sinha- Founder of Sublime by Seven, an experienced content marketer and strategist who has consulted with both state and central government on various projects and Prateek Nagar - a Startup Consultant who has over 10 years of experience in Marketing, diversified industrial experience in FMCG, Retail, FMCD, and Technology graced us with their involvement in this round as judges.
Finally after fighting hard through three rigorous rounds, our top 3 winners emerged, but with one final twist - there was a tie for the runners up position! It’s almost poetic as through the entire evaluation process we saw razor thin margins between teams. More credit to the participants who gave their all through-out the event and made the overall event livelier than before.
First Position: Roshan Naik
Second Position (Tie): Team Bio-Caspol & Team Multivariate Capitalists
Third Position: Rajan007
It was certainly a tough task evaluating the fantastic performances of each team, but it was an absolute pleasure organising and hosting the event, interacting with the future entrepreneurs of the country and being stunned by the competitive spirit of all the participants.
You can keep an eye on our social media channels for information about future events:
https://www.linkedin.com/company/supreme-incubator/
https://www.facebook.com/supremeincubator
https://www.instagram.com/supremeincubator/