At the IE Venture Day, students from top institutes in India and IE participated in a business plan startup competition and the winner of the Social Impact competition was the daughter of a street vendor who sells vegetables

MUMBAI, INDIA, November 26, 2018 /24-7PressRelease/ — At an event held by IE Business School students from IIMs, IITs, IE and ISB participated in a business plan competition. “India is the third largest start up economy in the world and our students need to be encouraged to create more businesses,” says Dr. Karan Gupta, the MD of IE, a Harvard Business School alum and founder of the Karan Gupta Education Foundation.

“I am most pleased with the students who despite not having the same opportunities as privileged children, managed to come up with such innovative ideas and startups,” adds Dr. Gupta referring to Almas Mukri from a BMC School won the IE Social Impact business plan startup competition with her ‘Basket of Joy’ organic fruits basket company. The winners received cash prizes of Rs.50000 each and a scholarship to study at IE Business School in Spain.

Indian cinema Actors Preeti Jhangiani, Sudhanshu Pandey and Parvin Dabas were present to share their experiences with entrepreneurship. “Passion is the most important ingredient in any startup,” says Sudhanshu Pandey and “Be a big fish in a small pond – don’t waste your money,” advises Parvin Dabas. And some final advice for the eager students – “Hard work day and night, be ready for the long haul. Watch shows that promote Entrepreneurship,” adds Preeti Jhangiani.

The Spanish Consulate General in India, Mr. Jorge Cadenas and Economic Commercial Head Vanesa Alvarez spoke about Spain being an education destination and an attractive space for young entrepreneurs.

The winner for the main IE Venture Day business plan startup competition went to a company by an IE alum that manufactures vegan makeup.

The jury consisted of venture capitalists Ashish Dave, Prakash Ranjalkar, and Ashutosh Kumar among others. Vikas Chaudhury, President of Reliance Jio Ventures enthralled the audience with his take on the startup ecosystem in India.

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