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Before I share the details, let me share a perspective here – Pretty much all ‘startup award’ ceremonies in India do a namesake job – the awards often go to the same old startups (you know whom I am talking about) or the one popular in that particular quarter. There is hardly any attempt to go deep inside the rice fields & animal sheds of the startup farms.
Somebody needs to do something. At a much deeper level.
Introducing The PowerPlug Contest
Starting March 2011, Pluggd.in will be recognizing Indian technology entrepreneurs on a continuous basis – every month. We will announce a winner out of nominated startups. And the winner wins a brand new iPad!! Yeah, you read it right. A Brand New iPad, supported by Sequoia Capital India.
As an applicant, you would be up against the best startups in the country – and the people running them. You would have to come out all guns blazing to win this – and we are sure you would. The PowerPlug is a story you want to tell about yourself to the world and you should make sure the story is compelling to last you 1 month on Pluggd.in.
The PowerPlug Contest : Details
The core idea behind PowerPlug is to recognize Indian entrepreneurs on a continuous basis.
As part of The PowerPlug of the month, entrepreneurs will share their startup details with Pluggd.in team and Pi will select one entrepreneur every month as the contest winner. The winner gets an opportunity (optional) to meet Sequoia Capital team members and spend half-day with them and get feedback/mentorship on his/her business plan.
The winner also gets a brand new Apple iPad sponsored by Sequoia Capital! Yeah! A Brand New Apple iPad is up for grab every month!
The contest form opens 1st of every month and will be available till 20th. Pi team will do the first selection and the contest will then be open for public voting. Winners will be announced towards the end of every month.
As far as selection parameters are concerned, here are broad level parameters:
- Potential of Business Idea
- Articulation of the Business Plan and Understanding of the Competition
- Execution Strategy
- Team and company building
- Maturity of Product/Revenue Stage.
- The contest is applicable only for Indian Entrepreneurs.
- An entrepreneur can apply for this contest only once in a quarter.
- The startup should be at least 6 months old and revenue making. If not revenue making, the startup should have pivoted the business model/product at least once.
- The contest is open to Indian entrepreneurs across different industries/verticals.
- In general, preference will be given to product startups as we believe that IP creation is the biggest value and core differentiator.
- Final decision lies with Pluggd.in Team.
- The contest format will be revisited every quarter (and will be modified based on response from the entrepreneurial community).
- The decision to fund (or not) rests squarely with Sequoia Capital and this contest serves no guarantee what so ever.
How Do I Apply?
Hop to the PowerPlug site and fill up the application form.
How Can I Help?
This is surely the first of its kind contest in India and if you are a startup enthusiast/love Pluggd.in – please help us reach out to your entrepreneurial friends (ReTweet/Share with your Facebook friends/Blog about the contest).
We want to ensure that we reach out to each and every deserving entrepreneurs and bring the PowerPlugs among the Indian Startups.
And if you are a startup that fit those rules, grab your moment now!.
We’d of course like to thank Sequoia Capital India team for supporting us in this venture. The entire initiative wouldn’t have been possible without their support.
– Ashish, On Behalf of Team Pluggd.in.
Got questions about the PowerPlug contest? Please ask them here.