One Day CEO Challenge by E-Cell, NIEC!8 months ago Ramya Sayaboni
Don’t get a job, Be a CEO!!
Most of us have must once wonder about not climbing the ladder but reaching the summit directly. Indians are always known for their skills of ‘jugaad’ and to celebrate the sense of ‘jugaad’ Entrepreneurship Cell of Northern India Engineering College conducted a unique event called as “One Day CEO Challenge” on 14th March 2018. Students who were gutsy enough to lead a firm came to participate in this competition from all the colleges of Delhi-NCR. The event was sponsored by Tripshire(www.tripshire.com) which rewarded the winners with a trip to Uttarakhand and provided free vouchers to all the attendees.
The competition was divided into two levels in which the first level was a case study round. The case study problem was given to the participants before the competition to think and analyze efficiently. The case study problem was as follows:
You are running a startup but suddenly you run out of money due to some reasons. Now due to your current market situation, no one seems to be interested in investing in your startup and taking the advantage of your situation an investor offers to provide you whatever amount of funding you need but only if you give him 50% equity. So basically now you are in a dilemma that whether you should take time and reach out to other investors or agree on a high equity of 50%.
What will you do and why?
Participants were then asked to present their solution to the case study problem with each team being allotted a time slot of 5 minutes. After a brainstorming session on solutions of all the teams on the case study problem, our judges picked up the top 5 teams whose solutions were the most efficient and feasible ones. The next level of the competition was the rapid fire question round in which 10 questions related to the startup ecosystem in India were asked to all the teams. For each correct answer, one point was allotted to the team. On the combined score of the Case Study Problem round and the rapid-fire question round the winner was finally selected. The winning team took away a great learning experience along with a trip to Uttrakhand.
This event was purely based on making normal college students sit at a CEO’s position and get to know how difficult and amazing it is to be a CEO. E-Cell NIEC is being known as the pioneer in bringing up unique entrepreneurial events in Delhi-NCR because most people think that entrepreneurship is all about starting up companies and earning money but little did they know that the real meaning of entrepreneurship is identifying the needs of the society and fulfilling it by providing the best service for it. And to spread awareness about this essence of entrepreneurship events like “One Day CEO Challenge” are the need of the hour. The reason why E-Cell NIEC is working continuously to spread entrepreneurship’s roots everywhere.