Harvard Business School, one of the top business schools in the world, has announced its second new venture contest in India. , which is modelled on the popular HBS Student Business Plan Contest, will see participation from the alumni of the business school in 12 regions around the world.

The Indian leg of the contest has also partnered with Mumbai Angels, one of the most active angel networks in India, as one its sponsors. Mumbai Angels will also invite all regional finalists from India to pitch their business plans and offer them mentorship.

This comes after the inaugural contest last year was won by an Indian alumnus, Krishna Mahesh, CEO of Chennai's Sundaram Medical Devices (P) Ltd.

The India chapter of the contest will be chaired by Raj Chinai of IndoUS Venture Partners this year. According to a statement, business plans from India will be reviewed by judges from India-based VC firms, including Accel Partners, Acumen Fund, Helion Venture Partners, IndoUS Venture Partners, Lightspeed Venture Partners and Sequoia Capital India.

The winner from the regional contests will be announced by March 15, 2011 and the winning teams will go on to compete in the finals at the HBS campus in Boston on April 25 & 26th, 2011. The first prize winning team will receive $25,000.

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