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Awards and Prizes

 

To make the business plan competition attractive, award of Rs.10 Lakh will be distributed among the winning teams. The details of prizes** are given below

 

Top Team will be awarded a sum of Rs. 5 Lakh*
Second Team will be awarded a sum of Rs.3 Lakh*
Third Team will be awarded a sum of Rs.2 Lakh*
Consolation prize of Rs. 10000 each will be awarded
*(Subject to the commencement of the business venture.)

 

(** The total prizes & cash prizes to be awarded will vary depending on the quality of business plans & decisions of the jury)

The decision of the jury is final & there is no scope for challenging the decision

Note: For the winning teams who decide to commence operations 10% of the award money will initially be given and rest of the award money will be given in two instalments during the 1st year of incubation in MUTBI.

A 2-3 seater office space along with other infrastructure will be provided free of charge for 1 year.

The company shall sign an equity agreement with MUTBI for 10% of paid up equity share capital in lieu of support and services on admission into MUTBI.

After the acceptance letter for incubation, the prospective incubatees will have to incorporate their company as Private limited in the Register of Companies (ROC) within 3 months.

The prize amount should be utilized within 18 months, otherwise it will lapse. This can be extended on request by the winning team & recommendations provided by CEO of MUTBI.

 

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  • Dr. Subramanya Nayak
    Provenance Coordinator,
    Professor, Department of Electronics & Communications,  MIT Manipal
    Email id:gs.nayak@manipal.edu
    Phone no: 
  • Provenance Secretariat: MUTBI, Ground Floor, Innovation Centre (Academic Block-4),
    Manipal Institute of Technology (MIT), Manipal.
  • Phone: +91-820-292-5055 (O);
    +91-968-669-5436 (M).
  • Email: mutbi.mit@manipal.edu
  • Monday - Saturday: 9:00 am - 6:00 pm
    Sunday: Closed
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