We believe that entrepreneurship is the key that can unlock India's latent inventive potential. It will not only push India to the forefront of the world but also help raise the quality of life in the country.
With this belief The Entrepreneurship Cell, IIT Bombay targets to help in the development of India's entrepreneurial ecosystem by enabling easy and efficient interaction between it's major components spanning students, working professionals, aspiring and existing entrepreneurs, mentors, angel investors, venture capital firms and corporates through initiatives like interactive sessions, competitions, conferences et al.
Ecell, through its activities and competitions, has served as the guiding torch to many individuals to start their own ventures. 16 years of unprecedented work and planning has led to Ecell being recognized as the Leading Entrepreneurship Promoting Student Organization in the country by the "NEN Achievement Awards" instituted by the Wadhwani Foundation and felicitated at TiECon 2005. Continuing the tradition to make everything we do, the best possible, we have been successful in making Eureka! E-cell's B-Plan competition, Asia's largest in 2001. Proof of our claims was verified by CNN, which recognized Eureka! as E-cell's largest business plan competition in 2001 and by Thomson Reuters in 2010.
Through our initiative National Entrepreneurship Challenge we helped around 1000 colleges to open their own Entrepreneurship cell aiming to promote entrepreneurship across the nation and successfully established 150+ E-Cells in about 80 cities. E-Summit, the yearly flagship event supported by UNESCO and Make in india initiative brings together the leading entrepreneurs of the world and Enthusiasts catering about 20,000 attendees both students and professionals. Some eminent personalities who have been a part of the E-Summit in the past are: Mr. Travis Kalanick (Founder & CEO Uber), Sachin Bansal( Co-founder & Executive chairman, Flipkart) Mr. Nandan Nilekani (Co-founder, Infosys), Dr. Werner Vogels, (CTO, Amazon.com)
These successes have not been entirely ours.It has been a slow and rewarding journey for us as well as the participants who participated in Eureka! . A quick look at some of the most successful ventures that have sprung out of Eureka! over the years.
Eureka Success Stories
Presently in its 17th edition, Eureka! has been the stepping stone for more than 60 successful start-ups, some of which have gone on to become multi-million dollar enterprises.
Leaf (Eureka! Social winners, 2014)
Leaf, started by a bunch of IIT Delhi students featured their company as one of the most innovative kind in the country. After winning Eureka! Social Track, they listed in Top 50 startups at Global Entrepreneurship Week and in Top 50 Innovative companies in India through IIGP. They also won The Ten Minutes Million at The Entrepreneurship Summit 2015 at IIT Bombay.
Zostel (Eureka! business winners, 2013)
Zostel is India's first backpacking youth hostel chain. Backpacking is a style of travelling where people look out for value travel and find value in an accommodation that offers just the right amount of facilities that are required for a comfortable stay. The spectrum of accommodation options in India leaves a wide collar of white space between cheap, inhospitable lodges/ hotels (Rs. 200) and mid-budget semi-premium hotels (Rs.1000+). Their brand aims at meeting this demand supply gap and offering a value solution to the customers.
Winners of Eureka 2001, eInfinitus Technologies is a research oriented routing technology venture, founded by alumnus of the Department of Computer Science and Engineering of IIT Bombay, India. It received 1.5 crores in their first round of funding from Sicom Ventures and later sold off to Cisco Systems in a deal reported to be in the range of a whopping 45 million dollars. For more information go to https://www.einfinitus.com/News/news8.htm
Gama Entertainment Systems:
Winners of Eureka 2007, they received funding of 50,00,000 on the day of the finals itself and since then have had three very successful products.Mymage: A very novel photo booth product in partnership with Sega, Japan as well as Licenses from Disney and UTV High 5: First ever machine to combine Prize Vending and Ticket Redemption Cricket 20-20: India's first 20-20 gaming machine.
Winners of Eureka! 2003. It has helped over 300,000 people in getting certified and advancing their careers at a whopping success rate of 99.7%. Whizlabs offerings have been endorsed by many distinguished organizations, such as TheServerside.com, JavaLobby, Certcities, and Wrox publications. Whizlabs today is a global leader in Java Certification Exam preparation. (www.whizlabs.com )