I am curious to know how many of the business plan contest winners have made it big or at least won a larger VC funding? If anyone knows, please comment. I know that Travelguru was a Harvard Business School business plan product. Is it largely a PR exercise for the organisers or do they really mean business? The debate can go on.
But the news is Siemens Venture Capital, the corporate venture arm Siemens AG, has announced a business plan competition for India. It’s called the India Innovation Program. SVC has invited business proposals from entrepreneurs and innovators in the areas of energy and environmental care, healthcare, automation and control, industrial and public infrastructures, lighting, automotive, and information technology, a release from the firm said. The last date for submission of the plans is November 30, 2007.
In energy and environmental care, the focus is on, for instance, solutions related to energy generation and storage, smart grid technologies and energy efficiency improvements. In healthcare, Siemens is looking at business plans focusing on imaging technologies, diagnostics (laboratory point of care), molecular imaging & biomarkers, image guided systems and therapies, healthcare IT&Software, as well as new diagnostics technologies (e.g. nanotech, optical).
In industrial and public infrastructures, the focus is on sensor and automation enabling technologies, such as wireless connectivity, next generation batteries, mesh networks and process improvements, including non-destructive testing.
The top three finalists will receive a token cash prize (the amount is undisclosed). In addition to the prize, the winners will also be evaluated for a funding opportunity from SVC and / or opportunities for collaboration with Siemens, the release said.