An Initiative of District Administration , Ludhiana
FUTURE TYCOONS
Startup Challenge
Ludhiana
Empowering Marginalised Communities to Become Successful Entrepreneurs
About
With the vision to build a strong eco-system for nurturing Innovation and Entrepreneurial Zeal, specially among the have nots and the marginalised communities, District Administration, Ludhiana in collaboration with "Startup Punjab" has launched, FUTURE TYCOONS STARTUP CHALLENGE, Ludhiana. The event is being spearheaded by District Bureau of Employment & Enterprises, Ludhiana.
The main aim of the challenge is to give an opportunity to the marginalized sections whose innovative ideas are not able to grow and flourish for the want of a platform. Future Tycoons aims to provide proper monitoring by experts and seed funding to start their projects.
Objectives of Future Tycoons
The main objective of Future Tycoons is to support the marginalised sections of society to be able to create, manage and steer their own enterprises.
To give an opportunity in the form of Angel Investors and SEED Capital to the Grass-Root Entrepreneurs.
Foster an ecosystem of Entrepreneurship
Encourage the youth to become Job Providers rather than Job Seekers
What is Future Tycoons?
It is a Startup / Entrepreneurship Challenge being organised by District Administration of Ludhiana.
Teams register to compete in a pitching competition where they put their business models/ ideas to test. Best Pitches from 5 Categories will be adjudged and scored by Jury Panels consisting of Prominent Industrialists , Financial Experts, Angel Investors and Academicians.
Winners will be Awarded Cash Prizes and will have access to a Pledged Pool of Capital Investment available for their Business Idea/ Start-Up
Awards, Prizes & Seed Capital
Future Tycoons offers a host of Tangible Benefits for its winners.
Awards & Prizes
1st Prize - Rs 30,000
2nd Prize. - Rs 20,000
3rd Prize. - Rs 10,000
Winners to be Chosen from Each Category.
Seed Capital & Investment Pool
Total Pledged SEED Capital Pool-Rs 13,10,00,000
Capital available in form of Equity investment as SEED Capital from an Angel Investors/ Industry Partners
For Finalists who are competing in Grand Finale of FUTURE TYCOONS
Recognition & Award
No Prize Money
Based on Citizen Votes
Citizen Choice Award
Mentorship, Handholding
& Government Support
All Teams will have a host of Intangible Benefits Made Specially available to them, which will help in taking their ideas to the next level of the journey.
Mentorship
Handholding
Teams will be guided and handheld by partner Incubators & Industry Partners
Assistance may include help with strategy development, operational advice, networking, fundraising, and navigating challenges of markets etc
Government support to startups/ teams will be provided through Innovation Mission, Punjab & Startup, Punjab, which provides funding, mentorship, and incubation facilities.
It aims to foster innovation and entrepreneurship across the state by offering financial grants, networking opportunities, and access to various resources and schemes.
Government Support
Main goal of Mentorship to accelerate the startup's growth and increase its chances of success by leveraging the mentor's experience and insights.
2 Day - Entrepreneurship Bootcamp
5 Days of Mentorship by Experts before Grand Finale
Mentorship by Incubators & Industry Experts
Apply in any of the 5 Categories
Each Category caters to a specific section of the society
Student
Only Students who are currently studying in any educational institution of Ludhiana or are residents of Ludhiana and studying.
Age Limit - 10 - 25 years
Women
PwD
Sustainable Agri / Food Tech
This category celebrates Women Entrepreneurs. All women Teams and Women led Startups who belong to Ludhiana may apply under this category.
Any One can Apply under this category subject to the condition that they should belong to Ludhiana.
Only Persons with Disability and Specially Abled of Ludhiana can apply in this Category.
Special Category where only Startups whose idea is linked to Sustainable Agriculture & Food Technology can apply.
Declaration needs to be signed by team to apply in this Category.
Open
Past Success Stories
Each FUTURE TYCOON Winners journey is a testament to the power of determination and the impact of starting small but dreaming big
Future Tycoons Startup Challenge , Patiala
Government Partner
Official Sponsors
Official Partners
Event Timelines
Launch
15.08.2024
Brief Details on the various events and stages in Future Tycoons
Registrations Open
15.08.2024
Pre-Screening of Applications & Scrutiny Stage
07.10.2024
Bootcamp
Inviting PPT`s shortlisted Candidates/Teams
Venues: Will be announced Soon
Jury Round
30.09.2024
Registrations End
Mentorship
Grand Finale
To Be Announced
Date and Venue to be Finalized
Venue: Dr Manmohan Singh Auditorium, PAU, Ludhiana
To Be Announced
To Be Announced
To Be Announced
Frequently asked questions
1. What is the vision and objective of Future Tycoons Ludhiana?
Vision: To build a strong ecosystem for nurturing innovation and entrepreneurial zeal in Ludhiana.
Objective: To support the marginalized section of society in creating, managing, and steering their own enterprises. The Focus of Future Tycoons is on the marginalised and the downtrodden sections of the society who may not have had opportunities to seek financial help for their ideas and ventures.
2. Who is eligible to participate in Future Tycoons Ludhiana?
Open Category: Any age group, domicile of Ludhiana District.
Student/Young Entrepreneurship Category: Students aged 16-25 from Ludhiana District studying in any educational institution.
Women Category: Females/Women from Ludhiana District.
PwD Category: Persons with disabilities (PwD) from Ludhiana District.
Sustainable Agriculture/Food Technology Based Category: Entrepreneurs focusing on sustainable agriculture or food technology.
3. What are the key dates for Future Tycoons Ludhiana?
Launch & Start of Registrations: 15th August 2024.
End of Registrations: 30th September 2024.
Pre-Screening of Applications: 7th October 2024.
Boot Camp: Dates to be announced.
Inviting PPTs from Candidates: Dates to be announced.
Jury Scrutiny/Selection for Finale: Dates to be announced.
Mentorship: Dates to be announced.
Grand Finale: Dates to be announced.
4. How can participants register for Future Tycoons Ludhiana?
Online: Via Google Form, QR Code, NIC website
Link : https://forms.gle/XevY2y2m5Fq7jK3q6
Offline: At DBEE, DIC, CSCs, and Municipal offices.
5. Where can I register for Future Tycoons Ludhiana?
You can register for Future Tycoons Ludhiana through both online and offline modes
6. How can I register online?
Google Form: A dedicated Google Form link will be available for registration.
QR Code: Scan the QR code provided in promotional materials to access the registration form.
NIC Website: https://ludhiana.nic.in/
7. Where can I register offline?
District Bureau of Employment and Enterprises (DBEE), Ludhiana: Visit the DBEE office to fill out the registration form in person.
District Industries Centre (DIC), Ludhiana: You can also register at the DIC office.
Common Service Centres (CSCs): Registration is available at various CSCs across Ludhiana.
Municipal Corporation/Municipalities/Nagar Panchayats: Visit these offices to complete your registration.
8. When is the registration period?
Start Date: 15th August 2024
End Date: 30th September 2024, until 11:59 PM
9. What should I do if I face issues during registration?
Helpline: You can contact the One Stop Career Helpline at 9646470777
Support at Registration Centers: Staff at DBEE, DIC, CSCs, and other registration centers will assist you with any issues.
10. What if I miss the registration deadline?
Unfortunately, late registrations will not be accepted. Make sure to complete your registration by 30th September 2024.
11. Are there any charges for registration?
No. Registration for Future Tycoons Ludhiana is completely free of charge.
12. Can I register as a team?
Yes. Teams can register, but each team member must meet the eligibility criteria and be listed during registration.
13. What are the prize categories and awards?
Prizes for each category:
1st Prize: ₹30,000
2nd Prize: ₹20,000
3rd Prize: ₹10,000
Additional Awards:
Citizen Choice Awards (Recognition and Trophy, no monetary prize).
Potential for Seed Capital from Angel Investors.
14. What is the structure of the program?
Pre-Screening: Scrutiny of applications based on specific criteria.
Entrepreneurship Conclave/Boot Camp: Orientation, mentoring, and special sessions.
Jury Round: Participants present their pitches; top teams are selected for the Grand Finale.
Mentorship: Selected teams receive guidance to refine their business models and presentations.
Grand Finale: Final presentations and awards.
