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About Youth Entrepreneurship Spread

Organized by NBIG:

NBIG (Nagarathar Business Initiative Group) of the U.A.E is organizing a global competition for IBCN 2017 to empower youth on the Entrepreneurial path.

youth Competitions poster-05

Vision Behind the Youth Competitions:

Youth are the leaders of tomorrow who would carry forward the mantle of leadership in reviving and taking forward Entrepreneurship among Nagarathar to new heights in the coming decades.

Objective:

This competition is to encourage youth to understand Entrepreneurship by practically working towards supporting and spreading it among Nagarathars. Participants need to work towards the following four pillars of IBCN 2017.

  • Know How i.e. Knowledge sharing
  • Family support in business
  • Funding guidance/assistance
  • Networking

Eligibility:

  • Team size recommended is 4, but can go up to 6, if participation is in more than one pillar
  • At least 50% of the team has to be from Nagarathars
  • Age Limit is up to 25 years (proof of age needs to be submitted)

Guidelines:

NBIG is working on the above objectives at the global level for raising the bar for promoting entrepreneurship among Nagarathars. Participants must work on miniature version of one or more of the above four pillars of IBCN 2017 and showcase the results they achieve to the panel.

Their work would be mostly practical (on field by getting in touch with people) but could also be academic (research and information gathering work where applicable). A detailed explanation of the objectives can be inferred from the guidelines given below.

Know How i.e. Knowledge sharing:

It is about making the business knowhow available to existing as well as potential Entrepreneurs. As an example, a participant can choose an industry (say, a retail segment like pharmacy) and a locality (say, Karaikudi) and collect all information required to start up that business.

  • Documenting of the local rules and regulations (in participant’s locality or another locality) to be made available for those starting a small business.
  • Procedures to be completed with the respective authorities for licensing a startup business
  • Technical knowhow on specific businesses – business process flow, design, etc.
  • Business feasibility studies
  • Information on raw materials, business opportunities, market potential, etc.
  • DOs & DON’Ts for any business

Participant has to do research on one or more of the above points and come out with the documented information. To get additional weightage, the collected information can be made available as a resource to potential and existing entrepreneurs through Nagarathars Forums or gatherings or to an individual Nagarathar.

Family support:

Family Support essentially means moral and material support provided to the entrepreneur by family members to encourage entrepreneurship. Participating candidate should focus on,

  • Promoting the idea of entrepreneurship to families through:
    1. Awareness Speeches – Speeches can be organized (by self or guest speakers) through Sangams or during family gatherings like a marriage or padaippu or community gatherings like Pillayar Nonbu, Thiruvizha or festivals. Alternately if an inspiring speech was available, the same can be screened to the target audience for inspiring them.
    2. Short Films – Participant can shoot short films exhibiting the values of family support in promoting Entrepreneurship among Nagarathars.
    3. Leaflets – Collect a set of ten points on how family members can support the Entrepreneur in their family, present it as leaflets to Nagarathars during gatherings to increase their awareness
    4. Video Interview – Interview a family and obtain their feedback on how they support the Entrepreneur in their family and the challenges they face. Present it to the panel as a document or video clip
    5. Blogs & Other media – Awareness information thus collected can be shared through blogs, Nagarathar magazines etc.(after obtaining the consent of the people involved in the content)
  • The participants should send the documentary evidences of the presentation captured as photos or video clips, leaflets etc.as appropriate, to the panel on the initiative/s chosen and carried out.

Funding Guidance & Assistance:

Funding is the back bone for any business. A potential Entrepreneur must not be lost due to lack of funding. Focus of the participating candidate would be,

  • Funding Guidance: Participant can identify various sources of funding available (such as, Government programs and schemes, Bank loans, Venture Capital, Private finance etc.), document the requirements and procedures to obtain them and make it available to Nagarathar Entrepreneurs through speeches or distribution of the printed material or assist them through the processes.
  • Funding Assistance: Using the concept of crowd funding or B2B, the participant can facilitate business funding for the entrepreneurs who require funding either as a startup or to scale up.
    1. Step 1: Prepare a write up on the process and procedure of Crowd Funding and/or B2B

      Step 2: Identify borrowers and investors

      Step 3: Arrange funding on completion of documentation

Example: A Chettinad snack business done from home, may require funds to cater more customers. This scenario can be handled either through crowd funding or through B2B. The amount can be as minimum as Rs. 5,000/- as well.

NBIG can review and assist in identifying investors besides providing mentoring in preparation of the process and procedure documentation. Participating teams should provide records and testimonies in proof of their achievement to the panel.

Networking:

Networking helps in connecting business partners and results in identifying business opportunities, business expansion across borders, etc. For example, a Nagarathar in restaurant business can get connected to another Nagarathar in vegetable or grocery business, and thus benefitting both as supplier and customer. A Nagarathar in restaurant business can be connected with Nagarathars in another city or country thus helping him expand the business to other places. This concept can be applied for any business sector.

To get connected to the people of relevance we need a platform or to be provided with reliable contact details in an organized manner. For this purpose NBIG, through its IBCN 2017 initiatives is providing online Networking platforms such as www.nagaratharbusinessgroup.com and Nagarathar Entrepreneurs Help Desk.

Participant is expected to:

  • Popularize these two forums among Nagarathar Entrepreneurs and encourage them to register and benefit from the services of getting connected.
  • Use personal networking skills through friends, contacts, relatives, forums and social clubs to connect business owners.

Participants to provide details of the following to the panel:

  • How many people the information of Networking Platform was propagated to
  • How many registrations were obtained through the same and
  • How many business connections were achieved through their efforts

Evaluation:

A panel of judges will evaluate the submissions and their verdict will be final. Evaluation will be based on the following:

  • Points will be awarded for each achievement in each pillar based on the score card
  • Working on more than one pillar will increase their chances of winning the grand award
  • Candidates can make more than one initiative in each category and increase their chances of winning the competition
  • Progressive submission of the outcome of each activity can be done as soon as it is completed
  • Beneficiaries of the activities have to be Nagarathars
  • Where required, testimonies need to be provided as reference for the achievement in any of the pillars
  • Where applicable, audio/video recording (smart phones can also be used) of the events where speeches are given or screened needs to be submitted

NBIG may publish selected submissions on their website and other communication channels.

Last Date for Registration – 31st Jan 2017

Start date for Progressive Submission of outcomes – 1st Sep 2016

Last date for submission of outcomes – 28th Feb 2017

Note: Participants are recommended to submit their outcomes as soon as possible and not wait till the last date mentioned above.

Resources:

Mentorship:

Webinars explaining the concepts and answering various questions of the participants will be made available to those registered. Specialized mentors who can provide guidance and encouragement, suggest actions for achieving the goals, provide reference to resources and make recommendations to resource persons where their support is needed. Participants can request their assistance through mail and/or phone by placing their request with details of requirement to youthhelp@ibcn2017.org.

Rewards:

First Prize – Worth Rs. 50,000/- + Mega Prize – Two representatives from the winning team will be sponsored by NBIG for attending the IBCN 2017 conference

Second Prize – Worth Rs. 30,000/-

Third Prize – Worth Rs. 20,000/-


For any further queries visit IBCN 2017 website http://www.ibcn2017.org

We are as excited as you, who have enrolled for the competition. We are waiting to see you all soon!!!