College Idea Hunt, a preliminary round event of the grand event “I Have an Idea” further goes forward to the Idea Studio. It is aimed to pick out the best creative minds that can bring up their ideas to solve the existing problems and develop it as an innovative way to sustain the economy without affecting their daily studies. It is aimed at promoting the practical aspect of the college education. College Idea Hunt is designed to help a large number of students with innovative ideas in launching their startups. We are accepting applications from entrepreneurs (students) with early-stage ideas. If you already have a product developed, this may not help you much. College Idea Hunt is the only idea incubator for the students in Nepal. It is unique and different in many ways:
- College Idea Hunt does not take any equity in your idea.
- You don’t need to leave college to be part of our program.
- We accept ideas at the earliest stage when no one else is willing to invest in you.
Why College Idea Hunt?
Almost everyone comes up with ideas but coming up with an idea is not a ticket to success unless it’s put into action. There are many challenges idea makers must overcome in order to convert their ideas into a successful business. Some common challenges that often hold us back are:
- I am just a student and good at what I do but I am not an expert.
- I am ready to work on my idea but there is no incubator in my hometown, or nation.
- My idea is not very clear, I don't have a great idea, or I am not sure if I can start a business based on my idea.
- I rely on my parents and leaving my college to work on an idea is not a risk that I can take.
- I don’t have enough money to start a business.
- I have had ideas in the past but was never able to act on them.
- I have a great idea and all I need is …. (fill in the blank—an investor, a programmer, a developer,
an app developer, a marketing person, etc.)
Idea Hunt Process
The event is an intra-college and inter-college competition. First, the idea pitching will be done in the college. The best three ideas will be awarded in each participating college. The panel of the judges will consist of representatives of idea studio and the members of the college. After, the preliminary selection of one best idea from each college, all the best ideas from every participating colleges will be evaluated by the jury of judges appointed by Idea studio based on its practicality, uniqueness, originality, and impact. Finally, the 10 best ideas from all the ideas will be collected and sent to the “I Have an Idea” grand event. The top 10 ideas will get a chance to be pitched in the mass of around 1500 participants and amongst them, the Top 3 ideas will be awarded cash prizes. These ideas will get a chance to be mentored and developed into a business idea impacting the society positively. The Top 3 ideas will also get chance to go directly into the Incubation round of “Idea Studio”.
Registration and Eligibility
Registration and Idea Submission must be done by May 20, 2018. There is no registration charge. Students studying in an undergraduate or master's level from faculties as such Engineering. Business Administration, Health Science, Hotel and Tourism Management and Development Studies with Nepal are eligible to participate. Student must be affiliated with a University approved by Nepal Government.
- Entrepreneurship Orientation: The main objective of the college idea hunt is to open the world of business and opportunities to the students at their young age so that they can go on setting up their own ventures and establish their own market later in their life.
- Quality Education: Theory is important but the knowledge to implement the theory is more important. This idea pitching event is going to be a great opportunity for the students to implement their theory in real life. It will eventually improve the education quality which we are seeking to do. It will be a platform to showcase the talents that the tomorrow’s ideators possess.
- Youth Empowerment: Today youth are getting opportunities but still it is less when compared to the global world. If we are to produce manpower who can compete with the world, we need to give them opportunities in accordance with the global market. The College Idea Hunt is one of the few opportunities which can help our students to grow.
- Cash Prizes: College Idea Hunt: The three teams with best ideas amongst the 10 nominated ideas from 150 gathered ideas (from 50 colleges) will be awarded cash prizes. The first position will be awarded Nrs 150,000, the second position will be given Nrs. 100,000 and third position will get Nrs. 50,000.
- Idea Studio: The winner of the Idea Studio will be provided with the prize worth of Nrs. 500,000 and their project will be funded by different approaches.
Program Rules, Terms, and Conditions
- The program is offered free. College Idea Hunt won’t take any equity in your startup or idea either.
- All the participants must submit their ideas by the deadline (May 20, 2018). Failure to send the idea on time may result in disqualification.
- Participants must submit their own innovative ideas. The ideas copied may result in disqualification.
- No profanity, swearing or any offensive gesture is allowed during the course of the event to anyone.
- The result of the winners published will be final and unquestionable.
- The organizing committee reserves the right to take necessary actions in case of breach of any of the explicitly mentioned rules or any other conduct which it deems as a gross misconduct.
- Organizers have the right to share information acquired from this form to press, partners and sponsors.
- College Idea Hunt is not an investment company and doesn’t promise investment in your idea.
- College Idea Hunt is not a business plan generator, it is your practical guide to develop your ideas.
- College Idea Hunt management team can expel any participant with or without case during the course of the event
Our evaluation process is simple. There is not a single basis for judging your idea, and there is no
one to babysit you. You can change your mind, learn, pivot, all that you like, ultimately, your
results will speak for themselves. All you need is an innovative idea to make this society a better
place. We will look at the quality of your profile, adherence to the program rules, discipline to
follow the timeline, respect to your mentors, willingness to provide updates, the speed of your
responses, and many other indicators that will tell us that you are serious. We would like to see
you making decisions independently and taking control of your own work, propelled by your own
desire to succeed. No idea is a bad idea. It is true that each idea is a good idea, but it matters
whether the idea is sustainable, impactful, and time-convenient. The best ideas will be chosen on
the basis of: -
- Innovativeness: The innovative ideas will always be emphasized. It can be any ideas – ideas bringing innovation from kitchen work to the big corporate industries.
- Ideas Utilizing Local Resources: Those ideas which can follow the principle of sustainable development without affecting the environment and which utilizes the local resources, local manpower and leads to the investment are encouraged.
- Sustainable Ideas: The ideas which can give a long-lasting impact for a long time always promote social as well as economic growth and leads to social justice.
- Best Presentation: Public speaking is an essence a good ideator needs to have. Someone might have a great idea, but unless he expresses it out and can convince other investors, the idea will not be impactful. The ideas should be presented to the panel of judges after the selection round.