Name of Karunya Alumni:(Required)
Country of residence(Required)

The competition comprises of two categories 

  • Aspiring Business Idea
  • Existing Businesses

This competition could be just what you need to bring your unique idea to fruition or take your existing business to the next level.

Rules and Requirements

  • Open to all currently enrolled Karunya University students and Alumni 
  • Competition has two categories.
  1. Aspiring Business Idea

Aspiring Business Idea Eligibility:

  • Current Karunya alumni students or Alumni that have graduated after May 2020.
  • An idea for a business earning revenue or/and external investment less than USD 5,000 (pre- revenue).
  • Previous Aspiring Business Idea winners for this competition are NOT eligible2.Existing Business

2.Existing Business Eligibility:

  • Current Karunya Alumni 
  • Business generating Revenue, or has external investment of over USD 5,000
  • Previous first place winners for this competition are NOT eligible.

Submission requirements for all categories:

  • Complete online entry application
  • Attend interview with TML appointed screening team of judges
  • Executive summary not more than (2) two pages (Financials as Appendix accepted)
  • Submissions may be revised up until deadline (September 30, 2022)
  • The proposed or existing idea should, to the best of your knowledge, not be in violation of any intellectual property right.
  • Entries that do not meet the above rules and requirements will automatically be disqualified.

Intellectual Property:  Ideas have little value until they are developed into actual companies or have issued patents.  With that said, you should only disclose information with which you are comfortable.  At this juncture, it is not necessary to explain exactly how you do something to the point that might give away secrets. However, realize the opportunity and how you can take advantage of it.

Competition Breakdown

Time Line

April 30, 2022


Contest Opens for Submission

September 30, 2022


Submissions Deadline

TML Gala Annual event


Contest Finals

Judging criteria for 

Aspiring Business idea will be evaluated on the following judging criteria.

  1. Business Description:Details of the venture and what it does.
  • How well was the concept explained?
  • How reasonable, sustainable, and scalable is the new concept?
  1. Market Analysis:Characteristics of the market and description of its customers.
  • Is there a genuine need for the product or service?
  • How well was the target market defined?
  • What is the size and growth of the market?
  • What is the consumers’ willingness to pay for the product/service?
  1. Product or Service Analysis:The specifics of the product or service.
  • Is the description clear?
  • Is the product feasible?
  • How easily it can be duplicated?
  • Is there a presence of potential substitutes for the product?
  1. Competition:Identify current and potential competitors.
  • Have the current and potential competitors, competitive response, and analysis of strengths and weaknesses been adequately defined?
  1. Marketing Strategy:How sales will be achieved.
  • How realistically defined is the marketing plan?
  • Does the plan adequately address price, product, place, and promotion?
  • Are resources sufficiently allocated for marketing?
  1. Operations:How the product or service will be produced and delivered.
  • What is the likelihood of securing resources required for production?
  • Is there an ability to operate competitively and grow?
  1. Management:An assessment of the entrepreneur(s) and team.
  • Does the team exhibit the experience and skills required for operation?
  • What is the depth and breadth of the team’s capabilities?
  • Does the team demonstrate the ability to grow with the organization and attract new talent?
  1. Finances:An overview of the required resources and economics of the venture.
  • How compelling is the business model?
  • Have the resources required for the venture been addressed?
  • Has the team clearly and adequately presented a breakeven analysis?
  • How reasonable are the financial projections?
  • Are there prospects for long-term profitability?
  1. Investment Proposal:The terms and conditions offered to investors.
  • Did the entrepreneurial team explain funding?
  • Were offerings to investors and anticipated returns clearly explained?
  • Did the team calculate a realistic valuation?
  • How feasible is the exit strategy?
  1. Presentation:Overall effectiveness of the actual presentation.
  • Did the presenter(s) engage the audience and hold their attention?
  • Did the presenter(s) appear to speak with confidence authority?
  • Were visual aids (i.e. PowerPoint® slides) clear and valuable?
  • Was the pitch exciting and compelling?

Remember, you should not simply talk about a general idea, rather, try to present a concise concept with a clear economic model, convincing everyone that you can actually make it happen.

  1. What’s the PROBLEM?
  2. What’s your SOLUTION?
  3. How large is the MARKET?
  4. Who is the COMPETITION?
  5. What makes you so SPECIAL?
  6. What’s your ECONOMIC MODEL?
  7. How exactly will you achieve SALES?
  8. Have you assembled a qualified TEAM?
  9. How will you secure required RESOURCES?
  10. What are you proposing for an INVESTMENT?

Existing business will be evaluated on the following judging criteria. The below criteria in some shape or form either directly or indirectly shall roll-up into the three factors which are Innovation. Simplicity. Social Impact. 

  1. Assessing the Need:An analysis of the issue and its affected population.
  • Does the venture address a significant and critical problem?
  1. Well-defined Target:Characteristics of the market and targeted population.
  • Does the venture have defined parameters within which it operates?
  1. Management:An assessment of the entrepreneur(s) and team.
  • Skills and experience of the entrepreneurial team
  • Passion, commitment, and perseverance of the team
  • Ethical standards of the team
  1. Creativity:A demonstration that the solution displays a unique approach.
  • Does the approach showcase innovation in an exciting, and dynamic way?
  1. Feasibility:A demonstration that the venture is successfully implemented.
  • Does the initiative aspire towards clear, realistic and achievable goals, while thinking big?
  • Is it implemented effectively?
  1. Planning:A clear and well-defined strategy to achieve objectives and goals.
  • Are there clear and coherent schedules, milestones, objectives and financial plans for growth?
  1. Operations:How is the product or service physically produced and distributed.
  • Has adequate attention been given to the way in which the product or service is produced and/or delivered?
  • Do they have the resources required for production?
  • Will they be able to operate competitively and grow?
  1. Sustainability:Long-term prospects for viability and success.
  • Does the venture include adequate strategies for fundraising and income generation?
  • Does it consider the different dimensions of financial and social sustainability in a conscientious manner?
  1. Social Impact:The value that the venture will bring to society.
  • How will the implementation of this venture benefit the community and the multiple stakeholders involved?
  • Is there the potential for significant social impact and engagement of the broader community?
  1. Presentation:Overall effectiveness of the actual presentation.
  • Did the presenter(s) engage the audience and hold their attention?
  • Did the presenter(s) appear to speak with confidence authority?
  • Were visual aids (i.e. PowerPoint® slides) clear and valuable?
  • Was the pitch exciting and compelling?

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