REDEFINE FUTURE WITH YOUNG INNOVATIONS!
Student Innovation Contest (SIC) is to promote innovation and hence entrepreneurship in young minds around the world.
We aim to introduce basic knowledge and best practices in the world of innovations and entrepreneurship
for a better prospect and to inculcate habit of ideation and creativity that possibly could lead to entrepreneurship
as the first choice of livelihood and career among the students.
- Institutions who wants to take part in SIC, must enroll their institution for SIC at www.eloit.com/sic.
- Students or student groups from the enrolled institutions can register for SIC online at www.eloit.com/sic
- Students must fill in online application form and submit their ‘innovative idea’ at the portal.
- Shortlisted students/groups will get a training on business pitching and an opportunity to pitch their innovative idea with a business proposal, in front of a panel of judges.
- Top 3 innovative ideas will receive a seed funding from respective institutions to convert the idea in to a reality.
- Top 20 business ideas will get a chance to participate in Innovation and Entrepreneurship workshop conducted by Eloit.
- Facilitate the idea to execution phase through collaboration with external agencies like funding agents, incubators and investors, if feasible.
To consider an idea presented by student as an innovative idea, it should match the following definition of innovative idea.
“An innovative idea should be a solution to an issue people are facing in their community and the idea must have a Practical Business Value“.
- One day of attention per month during the entire tenure of the contract.
- Design, set-up and execute the SIC, Entrepreneur Training and incubation unit as per needs of the institute on mutually agreed terms.
- Active external support and collaboration.
Some of the desired outcomes are:
- Behavioral change in mindset; from employment to enterprise.
- Even if not starting up a business in future, participants will be ‘intra-preneurial’ at their respective work.
- Enhanced career perspective and choices.
- Experiential entrepreneurial learning.
- Learn in practical and creative environment.
- Actively pursue ‘limitless’ options and ‘boundless’ practices to improve daily lives.
- Become more mature and wise to handle pressures and challenges of life.
- Able to be comfortable to become uncomfortable.
- Avoid stress!
- In due course, a few enterprises coming out of Alumni.
- Assist preparation for Entrepreneurial & B-Plan competitions nationally.
- Superior branding for the institute.
- Infrastructure support: Freehold room, stationary, audio-visual and others as per requirement of the planned event.
- Scheduling within time-table/outside regular hours as required.
- Certain privileges to the participants of SIC to work on their ideas and projects. (Like a field visit for a research study, library use beyond normal work hours, attendance relaxation for visiting outstation and such other conditions as may merit the award of privileges.)
- Hospitality and conveyance for any external guest has to be borne by the institution’.
- Expenses related to SIC including travel, hospitality, event management, stationary purchase and such other items will be borne by the institutions.