Rising entrepreneurs to get mentored in first phase of ET Power of Ideas

BENGALURU: The Economic Times Power of Ideas is a programme that inspires and helps both dreamers and doers to translate an idea into a business summary, provides mentoring and finally, funding to launch a startup. Set up in 2009, the Power of Ideas platform has since received over 60,000 ideas, of which 215 have turned into startups, with total funding worth Rs 69 crore.

The Power of Ideas 2017 is open to all Indian citizens and will run over four phases. The ideas shortlisted in the first phase will participate in group mentoring sessions, followed by elevator pitches or brief presentations to an investor.Those who make it past the first round will undergo an intensive residential mentoring program at IIM-Ahmedabad.

After the residential session, all candidates will present their business plans to an investment committee that will prepare a final shortlist of candidates who will receive cash grants and/or seed funds, worth a total of Rs 6.2 crore.

This year, Facebook presents The Economic Times Power of Ideas 2017 in partnership with the Department of Science & Technology (DST), Government of India and the Centre for Innovation Incubation and Entrepreneurship (CIIE), IIM-Ahmedabad. Facebook has been championing innovation and entrepreneurship worldwide, through this partnership, the company hopes to work closely with India's huge pool of talent, and to create growth opportunities by providing access to expertise and mentoring through multiple programmes.