Bengaluru: Start-up wins business plan contest

PTI, Jun 7, 2020, 4:31 PM IST

Mumbai: A Bengaluru-based start-up has won a business plan contest held to encourage future industry leaders, an official associated with the event said on Sunday.

Biodegradable straw start-up Evlogia won the first prize of Rs 10 lakh, Harshadeep Kamble, Secretary (Small and Medium Industries) and Development Commissioner (Industries) of Maharashtra said.

There were over 300 participants and Evlogia was declared the winner for a project on creating straws and crockery from plant leaves and waste, the senior IAS officer said.

The contest was organised by a group of technocrats to promote aspiring entrepreneurs amid the lockdown-induced situation, and to encourage future industry leaders.

The Nation Builder Dr Babasaheb Ambedkar Vichar Mahotsav Samiti organised the Bigleap 2020 online business plan contest to promote startups and new ideas, the official said, adding it was a business plan pitch competition to boost innovation and the spirit of entrepreneurship.

The contest gave participants exposure to real-world opportunities, by getting their business plans judged by accomplished personalities, providing mentoring from specialists and opportunities for exploring government schemes to promote entrepreneurship and new ventures, he said.

In the preliminary evaluation, the applicants were evaluated based on their ideas and business model and on the final pitch day, those shortlisted presented their pitch deck in the stipulated format.