Bzzwings – The Biggest B-Plan Competition this year is underway at IIM-B, and the Top 2 Startups will get Funding upto Rs 40 lakh

One of the biggest B-plan competition ‘Bzzwings’ is underway at IIM Bangalore where 10 startups shortlisted out of hundreds from across the country are presenting their ideas to an esteemed panel comprising big investors and NSRCEL – the incubation cell at IIM Bangalore.

This competition by Colors infinity is being presented in association with Eximius and Vista. The jury members are Radha Kizhnattam - VC from Unitus Seed Fund, Denny Kurien - Founder and CEO, Keiretsu Forum, Saumil Majmudar - Founder and CEO Edusports and Veena Avdanam - Mentor, NSRCEL.

Each team in 'Bzzwings' has 10 minutes of presentation time followed by 5 minutes of Q&A. The presentations are required to have no more than 10 slides which should cover these areas - Summary of the idea, Customer perspectives: Need-gap/Customer-pain areas, Market size, Value proposition / USP, Product / Service details, Revenue model and pricing, Sales and distribution model, Key competition and Financial Recommendations. Interestingly, none of these participants have received any venture capital financing for their business plan yet.

Out of the 10 teams shortlisted in Round 1 last month, 6 will qualify today in Round 2. They will receive mentoring sessions for a month and finally 2 top teams identified by an independent jury will make their way to Round 3. These two teams will get an opportunity for incubation at NSRCEL along with equity funding of up to Rs 40 lakh.

Colors Infinity, which is also a partner for Bzzwings and a SharkTank workshop, will be giving out Rs 2.2 lakh prize money to the top teams. The final results will be announced later in September this year.

Business Insider is covering the event from ground zero. Watch out this space to know who will be the top 6 teams today!