The 8-Hour Startup
In Round 1 [Jan 17th & 18]:
You will have to co-found a team like an actual startup:
Create a digital contract, the contract must primarily have ownership terms of whatever you're to build and sell, and mention about revenue split.
Then start researching:
Market Research
User Research
Competitor Research
Note:
Don't work on social enterprise ideas or B2G ideas - they never succeed.
Don't work on exteme deep tech too - you can't build and sell rockets in a day.
Do both primary and secondary research, your research must be qualitative and quantitative.
Your goal is to make ₹10,000 in less than 8 hours in Round 2, find such problem statements and solutions.
What you need to submit in Round 1 on Jan 18th:
Co-Founding Agreement
Research Findings + Business Plan
Go-To-Market & Market Penetration Strategy Plan
Sales Plan + Sales Scripts
Strategyzer - Value Proposition Canvas
Strategyzer - Business Model Canvas
Pitch Deck
Sales Deck
Instagram Page & LinkedIn Page for your brand
5 Reels
5 Posts
Logo
Brand Book - Colour Palette, Elements, Fonts, Moodboards
5 Minute Video explaining everything.
Set KPIs and metrics
Your results will be announced on the 20th of January, once the results are announced, if you come under the top 100 teams pay ₹1,500 to move on to the next round - nothing is free in this world.
Between 19th & 24th of January:
Post the 5 reels and 5 posters you created.
Track performance - views, likes, comments and follows.
Round 2 [Jan 24th]:
Report at Ground Floor, E-Block in IIT Madras Research Park at 09:00 AM.
Learn sales through masterclasses from serial entrepreneurs for 2 hours.
Start selling - do calls, emails, posts, visit business offices, go to malls - make ₹10,000, just sell...sell...sell
Serial entrepreneurs will be your mentors and they will be judging you and guiding you through.
Post each sale on our site and get updated on the leaderboard.
Note:
We don't give AF if you have a MVP or not, we don't even care if you have a landing page or not.
We don't how you price - ₹1,000 x 10 people or ₹2,000 x 5 people or ₹5,000 X 2 people or ₹10,000 X 1 person.
Your only goal is to make ₹10,000 before the end of the day.
It's not just about the highest earner.
Your result will be decided based on a combination of money earnt, money burnt, rise in followers, views, likes, comments, number of sales, number of product interactions and as many metrics as possible.
What you need to submit in Round 2 on Jan 24th:
Instagram performance - views, followers, likes and comments.
Linkedin performance - views, followers, likes and comments.
P&L statement.
Bank Transaction Statement.
User metrics - number of interactions, hours or minutes spent.
CAC.
Note:
All participants of Round 2 are mandated to attend the summit on Jan 25th to get participation certificates.
Round 2 results will be announced 1 hour prior to Round 3 on Jan 25th.
Top 3 teams will pitch on mainstage on Jan 25th.