FAQ

Q: Please let me know if we can also submit a plan which shall be implemented through a not-for-profit organization.
Ans: Every venture must make profits, though modest, to sustain itself in the long run. Profits does not mean that they have to go to the equity holders, the profits can be re-routed into the firm's activities. Therefore if your plan makes profits but uses them in the activities of the firm, then it will be accepted. A not-for- profit organization per-se is not allowed within the purview of I2i.

Q: Do we have to use the prize money of INR 1 crore for developing a financial plan for starting a business?
Ans: The prize money of 1 crore is in the form of seed funding and will be used to implement the plan. It would be better if you already had a financial plan for the startup, not only for the venture capitalist but also from the competition point of view. The judges may ask you to give your financial plan in case you get/ not get the prize money.