FAQ - College Idea Hunt
- How do I submit the idea in College Idea Hunt?
You can submit the idea online here. Along with the form you will have to submit a google drive link to your 2-minute video pitch.
- Is submitting the video pitch compulsory?
Yes, the 2-minute video pitch is mandatory for application submission. Please find the video guidelines here.
- When is the last day for submission?
Deadline: July 25, 2020 (Shrawan 10, 2077)
- What type of ideas do I need to submit?
Any innovative green business idea or ideas that address social issues sustainably in Nepal.
- Who can enter the programme?
Open to all Nepali students age 18 and above with a creative and innovative solution who are at ideation, start up, or scale up stages of their businesses. This programme is committed to equal opportunities to all, irrespective of gender, religion, culture, social status, marital status, sexuality, disability, age et cetera.
- Do I have to be a student to participate in College Idea Hunt?
Yes, you have to be currently studying Bachelors or Masters (in any faculty) in Nepal that is affiliated with a University approved by the Nepal Government.If you are not a student and interested in participating then we have Idea Studio National Idea hunt, which will start after College Idea Hunt.
- What is the selection process?
First: Out of the total submitted ideas 10 ideas will be selected for a 2-day online workshop.
Second: The top 10 ideas will pitch in the grand finale I have an idea after the workshop, amongst which top 3 ideas will receive Rs. 1,00,000 each and direct entry to Idea Studio Season 5 Incubation round and TV show.
- What will I get as one of the Top 3 ideas?
- Direct entry to Idea Studio Season 5 Incubation round and TV show
- Learning opportunity during the incubation programme
- Mentorship and networking opportunities from leading business personalities and experts
- Investment to start and scale the business
- Exposure in the national television show
- Do we need a prototype of our ideas to enter?
No, only having the business idea is enough to participate
- Do the ideas have to be profit based or can be non-profit?
The programme calls for business ideas hence is looking for profit based business model that contributes to sustainable environmental solution and/or social impact
- Do we have to pay back Rs. 1,00,000 received by the top 3 winners?
No, it is the prize money.
- Can the ideas be from any field/faculty?
Yes the ideas can be from any field such as agriculture, tourism, IT et cetera but must contribute to sustainable environment and/or social impact.
- Do we have to submit a PPT or business plan while submitting the application?
No, you will just have to fill the application form in the website along with a 2-minute video.
- Should the idea be presented individually or in a group?
Either, it’s your call
- What is the limit to the number of people in the group?
You can have as many people in the group but only one person will represent and participate in the workshop
- I am not from Kathmandu. Can I still enter the competition?
Yes, there is no restriction on area as long as you are passionate about your idea.
- Do I have to be in Kathmandu anytime during the programme?
The College Idea Hunt application and workshop will be conducted completely online however if you get selected among the Top 10 you will have to be here for the grand finale.*The grand finale this year depends on the COVID-19 situation of Nepal. If a physical pitching event is not possible at the time, the programme will choose alternative options to fulfill the pitching.If you get selected among Top 3 you will have to be in Kathmandu to join the incubation and tv show.
- Do I need to pay any amount to participate?
No, you won’t have to pay anything to anyone. If someone says otherwise, please inform the Idea Studio Nepal team.
- Who should I contact if I have a technical issue with my application?
You can send an email at firstname.lastname@example.org or call at +977-9801178787.
- Will I be able to edit the application form once I submit it?
No, therefore carefully fill the form, check and submit.
- Is there special consideration for applicants from Kathmandu area?
- Is there any limit to the budget for the ideas?
- Are we allowed to submit multiple ideas?
Yes, but idea selection depends on the evaluation criteria.
- What are the criteria on which the ideas will be evaluated?
- Ideas utilizing local resources
- Sustainable and scalable ideas
- Social impact
- How will you ensure the confidentiality of the submitted idea?
A Non-disclosure agreement will be signed between the ideator and Idea Studio Nepal.
- Would there be any chance that our idea will be used for other purposes without our knowledge whether they are selected or not?
- When will I be notified if my idea has been shortlisted or not?
You will be notified of your selection via email within 2 weeks after the submission deadline is over.Only the top 10 selected ideas will be notified via emails due to the high number of applications. To stay updated please follow our Facebook and Instagram
- When will the 2-day online workshop be held?
The online workshop will be held shortly after the Top 10 announcement. Ideators will be informed of the schedule through email a couple days prior. The workshop will be a 2-full day online workshop. The workshop will be an essential part to guide you for your business idea pitching.
- How will the grand finale be conducted this year?
In normal circumstance, the grand finale event ‘I have an Idea* would have been organized in the mass of around 1,500 participants. The top 10 ideas would pitch in front of the business gurus and three winners would have been shortlisted. The top 3 ideas would receive Rs. 1,00,000 each as cash prize and direct entry to Idea Studio Season 4 incubation programme and television show.*The grand finale this year depends on the COVID-19 situation of Nepal. If a physical pitching event is not possible at the time, the programme will choose alternative options to fulfill the pitching.
- Who are the judges and mentors?
Our judges (business gurus) and mentors/coaches are experts from the private and public, academia, and development sectors.
- Will the Idea Studio staff and judges sign a non-disclosure agreement?
- Does my start-up need to be relocated to Kathmandu if I am shortlisted?
- Do I have to be personally involved in the implementation of the business?
Yes, one member of the team will have to participate and represent full time.
- What if my idea is selected as top 3 but I do not have time to participate later in the incubation phase?
You will need to be completely involved in the incubation programme. No exception.