YSBC BIMTECH organized its flagship business idea competition for students from across the country on 21st Jan 2023. The preparations began months back to make the event successful. A team of 20 members along with the faculty mentors worked tirelessly for D-Day under the guidance of the chairman of YSBC, Prof. A. Sahay.
SocioBizz is a name that was deduced by joining two words, Social and Business. As a team we wanted the event name to easily communicate the idea behind YSBC, i.e. creating awareness about a business that generates economic value but has societal benefits at its core.
This event was conducted with a successful collaboration of YSBC BIMTECH with the Strategic Management Forum (SMF). Our starting point was to register with Unstop, one of the best platforms for conducting National and International level competitions. Our team got the event enlisted on Unstop and the journey of SocioBizz began. Within a few days of the event posting, we started receiving a positive response from the teams across India. A total of 185 teams registered to compete for prize money of 45,000 (INR).
To bear the title of Best Social Business Idea, the teams had to get through 3 rigorous rounds. The first round was a crossword puzzle that tested the participant’s awareness of the business world. Out of 185 teams, 45 teams reached the second round. This round was all about making them understand the entrepreneurial mindset. Therefore we asked them to take interviews with the entrepreneurs who were into social business and generating revenue out of it. After the completion of this round, the top 8 teams were selected for the finale which was conducted offline in the Greater Noida Campus.
Meanwhile, our team started preparing for the big event which was decided to be held on 21st January 2023 (Saturday). Long meetings and discussion about how to go forward with the arrangements have not only helped us grow as individuals but has also helped us create some beautiful memories.
For the finale, we invited 3 judges each one of them has years of industry experience. Our eminent jury panel included -
Dr. Sanjeev Kumar, who has over 30 years of experience with core competency in Communication Strategy, Communication Training, Responsible Business Conduct, and sustainability in particular health, education, and nutrition communication, also a Member of Harvard Business Review Advisory Council, an opt-in research community of business professionals.
The second panelist was Ms. Rina Sinha, she has worked with senior leadership teams in Government of India institutions and on large public health programs; at the World Health Organisation (WHO), the UN agency for health. Extensive experience in designing and implementing integrated advocacy, communication, CSR, and stakeholder engagement strategies to deliver effective and measurable outcomes in business consulting, human development initiatives, and public health programming.
The third-panel member was Mrs. Debika Goswami has around 15 years of experience with a demonstrated history of leading various rural development programs. Thematic areas of work include participatory local governance, women empowerment, nutrition and sanitation management, sustainable agriculture and natural resource management, and rural infrastructure development, among others.
The top 8 teams that competed against each other presented outstanding and innovative ideas. Everyone in the audience was thrilled to see the kind of thought process and hard work the teams had put in for the ideation of a product or service and in developing the business plan with societal and economic benefits at its crux. The top 8 teams were from Jamnalal Bajaj Institute of Management, FORE School of Management, Great Lakes Institute of Management Gurgaon, Birla Institute of Management, IIIT Delhi, and IITM Delhi.
The first position was backed by HR Catapults (Charudutt Malhara and Isha Gujarathi for "Dream Unlimited", a personalized career consulting website/app which is already established and running. They were awarded a prize of Rs. 20,000. The second position was secured by Captivators (Shreya Razdaan and Sahil Athar) for "DentWood", an idea of wooden toothbrushes made from bamboo with plant-based bristles with a detachable bristle-head and toothpaste dispenser attached to it. The third position was given to Monochrome (Amit Aryan and Abhinav Sharma) for "Vaayu" an Air purifier with HEPA 3 Filter which is reusable making it cost-effective and sustainable. The second and third position was awarded Rs. 15,000 and Rs. 10,000 respectively for distinguished presentations.
During the valedictory session, Prof. A. Sahay appreciated the efforts of the YSBC Team for making the day fruitful. Mrs. Reena Sinha said, "Dream Big and Dream a lot because the students are the torchbearers of tomorrow." Ms. Debika Goswami appreciated the teams for presenting wonderful ideas thereafter Mr. Sanjeev Kumar motivated the students by saying, "Keep on learning and don't get satisfied. Always look for something new."
The event ended in high spirits. There was a lot of learning and exposure for everyone. But that's not it. To celebrate our student's hard work, and to express our gratitude for the tremendous support received by the administration and staff of BIMTECH, YSBC asked students to put up stalls and an open mic for making the evening more engaging with great food, and music. It was a great way to kick off the new term at YSBC.