Frequently Asked Questions about TechIdeaSpace
1. What is TechIdeaSpace?
TechIdeaSpace is a program to help nascent Technology Start-ups to turn innovative/creative ideas into successful Businesses.
2. What is the aim of TechIdeaSpace?
The aim of TechIdeaSpace is to encourage development of ideas by Start-ups in the ICT Sector.
3. What are the objectives of TechIdeaSpace?
The objectives of TechIdeaSpace are
• To ensure continuous creation of ideas and start-ups.
• To inspire and stimulate development of innovative ideas among start-ups
• To sensitise and disseminate knowledge on Technopreneurship.
• To identify potential ideas for further transformation into successful businesses
4. When TechIdeaSpace Registration will open?
• TechIdeaSpace Registration is Open Now.
• All interested parties must fill up and submit their online form which can be accessed here
or email the filled downloaded registration form obtained from the download section
or e-mail the filled registration form requested from the Technopreneurship Unit.
• Once your Registration is validated you will be invited to mail your TechIdeaSpace submission form to firstname.lastname@example.org
within one month following validation of your Registration.
5. Who can participate for TechIdeaSpace?
Participation to TechIdeaSpace is open to Teams comprising of any combination of team members of Tertiary Students, Undergraduates, Graduates, Postgraduates, Researchers, IT/ ITES professionals, Secondary students and aspiring Start-ups.
6. How do I form a Team for TechIdeaSpace?
To form a team for TechIdeSpace you have to include a minimum of 2 members and up to a maximum of 4 Members comprising of any combination of Tertiary Students, Undergraduates, Graduates, Postgraduates, Researchers, IT/ ITES professionals, Secondary Students and aspiring Start-ups.
7. What about the Teams?
Your Team must have a Name and a Team Leader. The Team Leader must be the representative of the team and he/ she will be the contact person for the TechIdeaSpace.
8. What types of Team Name can I choose for my Team?
Selection of Team Name can be any name apart from the name or surname of any members of the Team.
9. How many Team members should you have?
Team members should comprise of a minimum of 2 and up to a maximum of 4 members.
10. Why should we participate as a Team?
Working as a team makes it easier for you to brainstorm on your idea. This also helps in building trust, in fostering creativity & learning as well as in encouraging healthy risk-taking.
11. TechIdeaSpace welcomes which types of ideas?
TechIdeaSpace strictly welcomes Innovative/ Creative based business ideas in Information and Communication Technology (ICT) to TURN these into successful businesses.
12. How can I join TechideaSpace?
You just have to fill up:
o The online form which can be accessed here
and submit it OR
o The registration form which can be downloaded here
and email it to email@example.com
o The registration form requested by mail and forward it to firstname.lastname@example.org
13. What about the Teams? How many people can form part of a team?
The team must comprise of a minimum of 2 and a maximum of 4 members with any combination of Tertiary Students, Undergraduates, Graduates, Postgraduates, Researchers, IT/ ITES Professionals, Secondary Students and aspiring start-ups who are willing to TURN their Innovative IDEAS to Business.
14. What background I must have to join TechideaSpace?
As TechideaSpace, welcomes Innovative/ Creative ICT related Business Ideas; therefore the Team Leader or at least one member in each team must have an IT background or have the necessary knowledge/skills to develop the prototype of the idea proposed.
15. Can I submit more than one idea?
No, only one idea per team will be accepted.
16. What are the different stages of the TechIdeaSpace?
TechIdeaSpace have 6 stages as per details given below
Stage1: Registration /Validation
• Registration is Open Now. Only Registered entries will be considered.
• TechIdeaSpace Registration form: online forms can be accessed here
or can be downloaded from the download section or can be requested by mail to email@example.com
• All filled Registration forms should be sent by e-mail to firstname.lastname@example.org
• Once your registration is validated you will receive the TechIdeaSpace Submission Form
Stage 2: Idea Submission Form
• Basic Details about your Idea are requested in the TechIdeaSpace Submission Form
• IDEA Submission form needs to be submitted within one month following validation of Registration
• Best Innovative ideas will be selected for stage 3
Stage 3: Submission of Business Model
• Assistance will be provided to work out your Business Model.
• Participants of Best Innovative Ideas will submit their Business Model
• Ideas with best Business Model will advance to stage 4
Stage 4: Join Boot Camp
• The Participants with best IDEAS will join the Boot Camp to get Assistance to prepare Business Plan; Financial Forecasts; Pitching of IDEA.
• Submit Exec. Summary and Financial Forecasts.
Stage 5: Assessment, Selection and Pitching
• Assessment of Exec. Summary and Financials.
• IDEAS with best Executive Summary & Financials to submit Pitching.
•Assess IDEA Pitch and improve
Stage 6: Pitch your IDEA
• Pitching of IDEA with Panel of Jury
• One to one mentoring in setting up Business
• Assist in Pitching IDEA with Potential Investors and FI’s
17. What are the timelines for TechIdeaSpace
Stage 1- Registration/Validation
Registration is Open
Around a week from Registration
Stage 2- IDEA Form Submission
Submission of TechIdeaSpace Form
Around 1 month from validation
Selection of Best Innovative Ideas
Around 1 to 2 weeks
Stage 3- Submission of Business Model
Assistance for Business Model
Date to be decided
Submission of Business Model
Within a month after assistance
Assessment of Business Model
Around 2 weeks
Stage 4- Join BootCamp for Assistance
To Prepare Business Plan, Financial Forecasts,
Start-up, Costs and Pitching of IDEA
Date to be decided
Submission of Exec. Summary, Financials
Around 6 to 7 weeks
Stage 5- Assess Executive Summary, Financials and Pitching
Assessment of Exec. Summ. Financials
Around 2 to 3 weeks
Submission of Pitch
Around 2 weeks after assessment
Assessment of IDEA Pitch
Around 2 weeks after submission
Stage 6- Pitch Your IDEA
Pitching of IDEA with Panel of Jury
Once Idea Pitch is finalised
Pitching of IDEA with FI’s/ Investors
Date to be decided
One to One mentoring in setting up Business
18. What are the submission guidelines?
All forms and guidelines for submission will be provided to your Team Leader as and when you have made it for the next stage.