ALL ABOUT JUMPSTART

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ALL ABOUT JUMPSTART

Have you ever had a business idea that could change the world? Ever had a dream plan which you couldn’t yet execute due to shortage of capital, lack of expertise, or fear of being under the spotlight? Have you been looking for an opportunity to gear your journey? Then, Jumpstart is the platform for you!

JUMPSTART, the signature Professional Development project of the Rotaract Club of Achievers Lanka Business School, was initiated with the aim of creating opportunities for budding entrepreneurs in Sri Lanka to Jumpstart their business journey, as well as students of Achievers Lanka Business School to have their first taste of the business world. Since its inception in the year 2017, Jumpstart has come about in many exiting twists, opening numerous opportunities for its participants, leading to impactful changes in their professional lives.

Here’s all you need to know about Jumpstart 2020!

Taking the theme ‘INITIATE. ELEVATE. TRIUMPH’, Jumpstart 2020 would be mainly staged under two categories.

 Pitch it, Win it!

 Shark Tank

Registrations for Jumpstart 2020 will be open from the 26th of October to the 15th of November 2020.

*Due to the prevailing situation in the country, Jumpstart 2020 will be conducted completely online via the platform ‘Zoom’, up until the finales of each category. In the case of team participation, participants may join from one location or separate locations.

The decision of holding the finales physically would be decided closer to the date, based on the health care regulations in the country. If the situations do not permit, the finales would be conducted virtually, similar to the previous rounds.

GAME PLAN

Pitch it, win it!

A platform for idea wizards and early stage startups to pitch their business idea before a panel of judges, and win valuable prices to Jumpstart their business journey. Participants of this category may be individuals or teams having an early stage business startup, or merely a Business idea in mind.

As the first step of this category, a workshop ‘Pitch perfect’ open to the public would be conducted on the 7th of November 2020. It will focus on how to pitch a business idea soundly, and prepare a Business plan. All participants of ‘Pitch it, win it’ are expected to participate for this workshop, which would guide them towards performing effectively in the preliminary round.

Following this, the participants will pitch their business at the ‘Pitch it, win it – Preliminary round’ which will be held on the 22nd of November 2020. This would comprise of a presentation followed by a Q&A session with the judges. Participants will be questioned on the application, feasibility, and the return on investment of their business idea. The teams with the four most outstanding business ideas, will be qualified for the finals.

As part of the ‘Pitch it, win it!’ category, a series of workshops open to the public will be conducted from the 23rd to the 29th of November 2020. They would be conducted by the judges and industry experts, and will address the topics, 

 Finance and book keeping

 Marketing and sales

 Fundraising

 Legal Aspects and Business registration

This will be a valuable opportunity for the finalists to enhance their knowledge and skills prior to facing the finals, and all finalists are recommended to participate for the workshop series.

In addition, upon getting select for the finals, all finalists would be assigned a mentor who would guide them towards preparing for the finals. 

The selected finalists will compete in the ‘Pitch it, win it! – Finale’, which will be held on the 6th of December 2020. They would be given an unseen business scenario prepared by the judges, customized to their business and industry. Each team would be given one hour to build strategies and present a solution which would reflect their skills in quick thinking and decision making.

The winners of ‘Pitch it, win it’, will be decided based on a final score comprised with 50% brought forward from the preliminary round, and the other 50% from the points gained through the grand finale.

The first three places of the ‘Pitch it, win it!’ round, will receive valuable prices to escalate their Business. The winners of this category will be awarded prices worth LKR 100,000, which will include all or some of the following.

  • Cash Prices 
  • Co-working space 
  • IT solutions 
  • HR solutions 
  • Portfolio solutions
  • Web hosting
  • Mentor-ship

The participants of the ‘Pitch it, win it’ category have the opportunity to compete for an additional prize by submitting a thorough Business Plan about their start up. The required structure of the business plan will be sent to all participants of ‘Pitch it, win it’, upon registration, and submissions will be taken in until the 21st of November 2020. Competing for this award will be optional, and the points earned from it will not affect the ‘Pitch it, win it’ scores of the participants.

Shark Tank

A platform the form of a networking event, where the stage is open for growth stage startups to connect with potential investors from numerous fields of Business, who may be interested in offering them investments for a return of equity in their Businesses. Participants of the category maybe individuals or teams, owning a business in the growth stage.

There will be a selection in order to take part for this category, and upon registration the participants will be asked to submit and overview of their start-up on the following points, 

  • Existing revenue generation 
  • Scalability 
  • Profitability/impact 
  • Business Model 
  • Traction 

The qualified would pitch their business to the investors, following some rounds of discussions. The businesses will be evaluated on grounds such as feasibility, growth and return on investment, and the participants stand a chance to receive investments for their Businesses. The participants may also gain expert advice for their business, and create long lasting contacts with investors. The Shark Tank round will be held on the 6th of December 2020.

The remaining participants will have the opportunity to participate in the ‘Pitch it, win it’ round. 

After the completion of three successful editions, JumpStart has proven time and time again that it is the ideal platform to Jumpstart your business journey. Don’t miss out on this unique opportunity and the rewards in store, to make your business dream a success.

Register for Jumpstart 2020: 

https://tinyurl.com/register-jumpstart

Register for the workshop series: 

https://tinyurl.com/jumpstart-workshops

 

Initiate your idea, Elevate your journey and Triumph in the field of Business, with Jumpstart 2020!

 

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