Economic Times partners IIMA, GOI to create entrepreneurs

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) June 23, 2010 -- Economic Times is launching The Power of Ideas 2010 in association with IIM Ahmedabad on Tuesday, June 22, 2010. This initiative was first launched by Economic Times in 2009. According to IIM Ahmedabad, it is an initiative taken in order to create an Entrepreneurial ecosystem in India. Since the initiative was first launched by ET in 2009, this year the objective is to formalize the initiative, transforming it into an entrepreneurial ecosystem that will drive the economy forward, mentions IIM Ahmedabad.

Economic Times and IIM Ahmadabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE) have partnered with the Department of Science & Technology (DST), Government of India. This initiative, considered as one of the largest platform in the country, would encourage, nurtures and grooms business ideas by connecting them with relevant mentors, incubators and investors, says IIM Ahmedabad. While the DST, with its immense expertise and relationships in the entrepreneurial space, is offering guaranteed funds worth Rs 5 crore, the CIIE has put together an ecosystem comprising mentors and investors who will evaluate every single business summary that comes to The Power of Ideas 2010 – mentoring and investing in the most deserving, Economic Times mentions.
This is mainly an event where budding entrepreneurs will share their idea and the best idea will be mentored and will be given further boost by investors. CIIE will put together mentors and investors who will be evaluating each and every business summary received by Power of Ideas 2010. To ensure wider impact and also interaction of innovators with investors, CIIE has worked out a unique ten-day incubation program at the IIM Ahmedabad campus for all candidates who make it to the final cut-off list of The Power of Ideas 2010, IIM Ahmedabad informs.

Funds worth Rs. Five Crore will be given to not just who have taken the first step but to those innovative thinkers and idea generators who can come up with good ideas.
Reminiscing the Power of Ideas 2009 which was started from January 2009, Economic Times says, Over 12,000 people turned up in Jan 2009 with nothing more than an idea, a partner, and a laptop. Nearly 2,000 participants were mentored, 254 met investors, and nine have received funding while 19 others are in various stages of talks with investors.
If you have a business idea which you think can work wonders with the right assistance, ‘The Power of Ideas’ is the right place to share it. To participate, click on the following link:
http://www.ideas.economictimes.com/

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