IIM Bangalore Students Win National Innovation Competition
Three MBA students from IIM Bangalore have bagged the National Innovation Competition - The Ultimate Pitch 4.0 organised by Reliance Industries Limited with a focus on entrepreneurship and innovation.
One of the proud moments for IIM, Bangalore comes when three of it’s Master's of Business Administration students developed a bio-degradable packaging substance to replace the plastic counterparts that you find today. ‘The Ultimate Pitch 4.0’, organised by Reliance Industries Limited, is a competition that was hosted to commemorate the spirit of entrepreneurship and innovation. ‘The Ultimate Pitch’ is in its fourth season and has currently enrolled around 55 of the top business schools of India to compete against one another for the cash prize at the end of the competition.
Yash Parekh, Mit Parekh and Jinit Dharia are the three MBA students from IIM Bangalore, who won the ‘The Ultimate Pitch 4.0’. As per Yash Parekh, their goal was to create a substitute that was bio-degradable, unlike the styrofoam packaging materials. The team of these three students had won ₹4.5 lakhs as a cash prize for winning the competition and on the other hand, for winning the campus rounds, they received ₹50,000.
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In the fourth edition of the ‘The Ultimate Competiton’, the competition had enlisted just over 2,200 teams comprising of more than 6,000 students. The students have to compete in the regional and national rounds. For the national round, only 23 Top Business Schools were selected. For both the rounds the students were expected to create a video, a presentation and also a Q&A round, with the time being 3 minutes each for the regional round and a 3-minute video with a 4-minute Q&A session for the national round. The main criteria for winning the rounds were whether the products were desirable, viable, sustainable and feasible.
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Recently, IIM Bangalore also hosted a Visionary Leadership Summit that saw the participation of students and industry leaders who spoke at length about the concepts related to digital marketing, branding and entrepreneurship.