Student Entrepreneur Award

🌟 NOMINATIONS OPEN: Student Entrepreneur Award – SEA 2023

Nominations Concluded on 31st January 2024.

🚀 Exciting News! Samrambhak Mithra, the leading NGO in the Entrepreneurship sector, is thrilled to announce the launch of the Student Entrepreneur Award (SEA) program! 🎉
👩‍🎓👨‍🎓 Are you a student with a passion for entrepreneurship? Do you have a groundbreaking startup/project idea that you’ve brought to life during or after your studies? This is YOUR chance to shine! 🌐
🏆 The SEA program aims to inspire and empower the next generation of entrepreneurs, encouraging students to turn their innovative ideas into real-world businesses.
🌈 Key Highlights:
✨ State-level program attended by Industry Association Members, Industry Leaders, Entrepreneurs, SME sector stakeholders, and representatives of major academic institutions.
✨ Event Date: 08th March 2024
✨ Prize: The winner will receive a cash prize and a prestigious Memento.
🚀 How to Nominate:
It’s easy! Nominate yourself or someone you know by filing the nomination form here 👉 http://bit.ly/3Dwl3Ui
🎓 Don’t miss out on this incredible opportunity to showcase your entrepreneurial spirit and be recognized on a state level! 🌐✨
🌟 Let’s celebrate innovation, ambition, and the drive to create a positive impact on the world! 🌍✨

FAQ

I don’t have a team am I eligible to apply as an individual to the competition?

Yes, entries are welcomed from individual students who have all bases of their idea covered; or groups of students who come together as a collaborative group to mix different skillsets to get their idea off the ground.

If I don’t have a supervisor can I still apply to the Student Entrepreneur Awards competition?

Yes, you can enter the Student Entrepreneur Awards competition even if you don’t have a supervisor.

What is the role of the Supervisor?

The Supervisor’s role is to help and guide the students with their video and the application process.

I am a full-time post-grad student in college in Kerala am I eligible to apply to the Student Entrepreneur Awards competition?

Yes, this competition is exclusively for full time registered undergrad and postgrad students at university level.

Can Students from overseas apply to the Student Entrepreneur Awards competition?

No, unfortunately students must be full time registered student attending a third level college in Ireland.

I am a third level part-time student going to college can I enter the Student Entrepreneur Awards?

No, unfortunately you are not eligible to apply to this competition as all applicants must be a full time registered student in third level college in Ireland.

What is the maximum number of students that I can have on my team?

Teams must contain a maximum of five students

There are two members in my team attending different colleges can we submit a joint entry?

Yes, Samrambhak Mithra does not have a problem with joint entries and encourages collaboration on the Student Entrepreneur Awards competition. If a joint entry reaches the final then one college would have to take the lead In order to to avoid issues around hosting of the event the following year.

I’ve seen a good idea somewhere else – can I use that to enter?

The idea must be the students’ own idea – the more original the better – making it easier to protect and patent the product/service and fast track the idea into a real business. The idea must also have commercial potential and be exportable.

My idea is focused on social businesses, i.e. businesses that are both for-profit but also address a social/environmental, is my project eligible to enter?

No. Business activity is not eligible under the programme

What should I be looking for in my idea?

Ask yourself is the proposed product/service innovative or an import substitution. Is it feasible and is there a market for it?

What should I consider in my Planning and Projections?

Has the market been thoroughly researched and potential competitors identified? Have the capital investment and operational cash requirements been identified and estimated realistically?

How important is the video part to the competition?

It is very important as it will be viewed throughout each stage of the competition if you get through to the final. So, before you make the final video cut and submit your application, make sure your video:

  1. Articulates the business idea/proposition;
  2. Explains the problem it solves and how it works;
  3. Highlights how the idea is innovative;
  4. Identifies the target customer and explains why they would buy it;
  5. Highlight the idea’s export potential.

Some tips to consider before making the video

  • Record in a quiet place with no background noise so that sound quality is good
  • Imagine pitching to customers: speak clearly with an even tone of delivery
  • Practice makes perfect, do plenty of practice before making the final cut
  • Get some help with the production of the video, ask friends or family members to give feedback during the production.

What is the Judging Process

Student Entrepreneur Awards – Judging Process & Evaluation overview

Judging Process

The Student Entrepreneur Awards are judged in two stages. For each stage of the competition entries are evaluated and scored across the six points outlined in the scoring criteria.

Stage 1 – All entries received before the submission deadline are sent for the first round of review by our Technical Panel.

Stage 2 – The top ten entries are selected to pitch their project to the judging panel at the final in June.

Evaluation

Entries to the Student Entrepreneur Awards are assessed and evaluated under each of the points below by our panel of judges

1. Promoter/Management Team Capability – 20%
Does the team have the necessary skills required to develop and launch the proposed business?

2. Business Proposition – 20%
Does this project demonstrate that it is innovative and/or an original concept?

3. Feasibility of Implementation – 15%
Is it feasible and is there a market for it?
Planning and Projections – Has the market been researched & competitors identified?
How quickly can it be commercialised?
Does the project have export potential?

4. Finance – 15%
Have the capital investment and operational cash requirements been outlined?
Are the financial projections realistic? Provide details of how much you need and where you might get this start-up funding
When deciding on a price you need to consider a number of factors:
o How much will it cost you to make/provide your product or service?
o What are your other costs? – staff, rent, packaging, transport, marketing etc.
o How much profit do you need to make to cover your costs and make a profit?
o What and where is your market?
o What are your customers willing to pay?
o What are your competitors charging?

Provide a detailed pricing model for your product or service based on the above factors.

5. Marketing Plan – 15%

Product or service
What is the company proposing to do and what problem does it solve?
How is this different to what is currently available on the market or how does it improve a current product?
Describe how the market research was carried out and give examples

Customers
Who are your customers?

Market trends or issues
Describe trends or key issues anticipated in the market that may affect the marketplace

Competitors
Who are the competitors and what are their strengths and weaknesses?

Place/channels of distribution
Outline your selected routes to market and sales plan

6. Presentation – 15%
Professional approach & delivery, easy to read format

What are the judges are looking for?

  • Has your project got commercial potential, what are you going to sell and do you have a market for it?
  • Who are you going to sell it to?
  • Why are they going to buy it from you, what is the unique selling point?
  • Have you developed a prototype of your product or are you close to developing a product?