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Power to Empower
Purpose of the competition:
In pursuance of its vision objective of 500 million technically skilled work-force by the year 2022, India@75 and National Skill Development Corporation (NSDC), in 2011, conceptualized a Skills Enterprise Plan Competition (SEPC) under the name “Power To Empower” to sensitize the youth and encourage entrepreneurship in the skill space as a viable business proposition.
In the first year, SEPC was conducted for the selected management, technology and sector specific institutions/colleges. However, the second edition of the P2E- 2012 competition will reach out to grass-root entrepreneurs to enable them in scaling up their businesses and for students to understand the opportunity and potential in the skill eco system.
The competition was planned to be rolled out in the coming years in three phases as indicated below:
Process of the competition:
The phase one was launched in 2011. For the present phase 2 of the competition this year, it will be conducted in two categories namely Entrepreneurs and Students. The competition will be divided in three stages:
- Idea stage
- Plan stage
- Final presentation stage
In order to encourage larger participation and spread the word about “Skills as a business opportunity”, we have planned for an idea stage where everyone is welcome to send an entry. Also, to ensure an even representation from all over India we will have a winner from each of the six regions i.e. North, South, East, West, Central and North East besides an all India winner.
We will then be inviting entries for the plan stage. This stage is independent of idea stage; it is not necessary that a participant from idea stage can only be part of the plan stage. Everyone — students and entrepreneurs — is invited to participate. Entries received will be evaluated and selected entries will be provided mentors.
These mentors will support them in writing a more focussed business plan. Approximately a month is provided to the participants to complete the plans. These plans will once again be evaluated twice by two different evaluators (for reducing subjectivity) and their consolidated average will be taken into consideration for selection to the final stage.
The finalists will be provided further mentoring to make their plans more concrete and convert them into a crisp presentation. This presentation will be made to an eminent jury comprising representation from government, industry and venture capitalists. The winners will be awarded with cash prize, seed funding, and incubation support.
Power To Empower 2011: An Overview
Phase 1 of the competition was launched last year on 12 July. The competition took off with NSDC and India@75 as a co-organizer, Ernst& Young as process partner and ISB as knowledge partner. We had reached out to 39 premier colleges in the country and almost 4000 college students across India. These 39 colleges comprised Engineering colleges, Undergraduate/ Graduate colleges, sector-specific and MBA institutes. The competition had three rounds of evaluation and two rounds of mentoring. We had limited the participation to the colleges where we had organized the roadshows.
The competition was divided in two broad categories:
- Best Business Plan
- Most Innovative Plan
More information about India@75 can be found on www.indiaat75.in
More information about Power To Empower can be found on www.powertoempower.in
I am sharing the overview of the initiative and the overview because it all seemed very motivation to me. The competition is a great boost to college students and young entrepreneurs to give wings to thei ideas. This would also serve as a platform to present your ideas in front of people who know what lies behind setting up those big industries. It is always good to get mentored from people who have walked our paths. Give it a try if you have an idea. Do you?