IIM Ahemdabad is conducting a business plan competition event, Ummeed, for grassroot level creativity and innovation on January 31, through crowd funding. The objective is to extend support to other socially beneficial business ideas.
Enactus is an international, student-run, non-profit organization that helps communities in need by creating a business model for them with the aim of empowering community members to improve their livelihoods and transforming them into entrepreneurs.
This year, the IIMA team is working with the kite-making community in Jamalpur to create an alternative source of livelihood for them while preserving their skills. Underprivileged women from the community are trained to make inexpensive but robust paper bags. These bags will be sold in universities and college campuses as a substitute to plastic bags.
Ummed, which is to be held in the RJM auditorium at IIMA, will be attended by social investors who will be selecting and investing in the ideas presented at the event. The participants will give a short presentation of their idea at RJM, which will be followed by the attendees voting for the idea they want to support. All collections would be distributed as prize money amongst the participants.
IIMA invites applications from the residents of Ahmedabad. Anybody who is interested in applying should send IIMA a brief write-up of their idea and about themselves along with contact details. Ideas will be judged on the level of social impact, feasibility and viability of the idea and capability of the team to implement it.
An initial round of screening will be done by a panel of experts, and 5-8 teams will be selected for the final presentation on the January 31. Students are also eligible to apply.
Applications are to be sent to enactus@iimahd.ernet.in by January 20.