BSM Announces Winners at Grand Finale of BSM IGNITE Business Competition

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BSM Announces Winners at Grand Finale of BSM IGNITE Business CompetitionHyderabad, May 22, 2024: Badruka School of Management (BSM), an institute of Badruka Educational Society, successfully organised the third and final round of in-person presentations for BSM IGNITE, a business case competition in Hyderabad.
BSM IGNITE was initiated for young and aspiring business leaders as a platform to present their entrepreneurial ventures and receive feedback from industry experts, mentors, and academics. The event saw enthusiastic participation from students and young entrepreneurs who presented innovative business ideas to address contemporary challenges. Before this event, participants underwent two initial rounds: an entrepreneurship-themed quiz and the submission of an executive pitch video of their idea. The seven shortlisted teams were invited to the finale from across the length and breadth of the country.
Dr. Prabhu Aggarwal, Director of BSM, inaugurated the event, highlighting the importance of fostering entrepreneurial spirit and innovation among students. “BSM IGNITE is more than just a competition; it’s a celebration of creativity, critical thinking, and the drive to make a difference in the business world. BSM is committed to celebrating innovation and entrepreneurship, which are among the core values which lead the institute,” he remarked.
The panel of judges included distinguished professionals such as Dr. Prabhu Aggarwal, Director of BSM and former Vice Chancellor of OP Jindal University and Bennett University; Mr. Ramesh Loganathan, Professor of Co-Innovation at IIIT Hyderabad and former Interim Chief Innovation Officer of Telangana; and Mr. Aditya Vuchi, Co-Founder and CEO of MediaMint. They provided insightful critiques and guidance, helping participants refine their business models and presentations.
Mr. Ramesh Loganathan highlighted, “Entrepreneurship and innovation are set to play the most significant role in the business landscape in the future. It is crucial to provide a platform to youngsters and celebrate their ideas, guide them, and enable them to scale new heights of success.”
“It was great to be a part of this competition and hear youngsters’ ideas to solve issues at all levels. We need more such platforms to come up to enable students to express themselves. I am happy to see that Badruka School of Management has brought such a platform to Hyderabad,” stated Mr. Aditya Vuchi
Each team had approximately 20 minutes to present a variety of business concepts, ranging from tech-driven solutions to social enterprises. They detailed their business plans, market analyses, and growth strategies, competing for the opportunity to win the competition.
After the presentations, the judges convened to evaluate the participants using a rubric that included criteria such as Problem Identification & Solution, Market Analysis & Research, Business Model, and Value Proposition. They then provided feedback to the teams and announced the winners.
Teams Picapool and Bagboutique won the competition and were awarded seed funding of INR 1 lakh each and mentorship to help turn their innovative ideas into successful businesses. Picapool offers a platform where people who are looking for singular products but aren’t able to avail maximum discounts or offers and help them connect. On the other hand, Bagboutique offers recycling textile waste and converting it into ethnic wear, jewelry, and much more.
Participants expressed their excitement and gratitude for the opportunity to engage in such a dynamic and supportive environment. “BSM IGNITE has given us a platform to turn our ideas into potential ventures. The feedback from the judges was invaluable. The event was very well organised and the support offered by the institute was great. It was a very wholesome experience.” said Tushar Jain, one of the winners.

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