SRM University’s business ideation contest BUD-24 concludes

GANGTOK, : BUD-24, a business ideation contest organized by Department of Commerce, SRM University Sikkim, concluded today with a business development contest.

The event, organized in three key stages – business ideation contest, training and mentoring session and business development contest – drew participation from across the State, informs a press release.

The event began in February with registrations from 15 schools (55 participants), eight universities and colleges (20 participants), and four public participants, totalling 79 participants.

The first stage, the Business Ideation Contest, took place on May 30 and 31 where outstanding business ideas from schools, universities and colleges were showcased, leading to the selection of 20 top ideas.

On July 12, the second stage featured a comprehensive training and mentoring session led by CA Yash Marda and internal mentors from the Department of Commerce. An optional mentoring session was also provided to ensure participants were well-prepared for the final round.

Today marked the finale of BUD-24, with the Business Development Contest showcasing final presentations from 17 participants from schools, universities and colleges.

The jury included Bansal Priya and Associates CA Priya Bansal, Sikkim University Department of Commerce head Prof. A.N. Shankar and Remanti Sangeet Academy founder Remanti Rai.

The award ceremony was attended by SRM University vice chancellor Prof. Ch. Satish Kumar as the chief guest, SIKKIM EXPRESS editor Amit Patro as the guests of honour, and YM Associates CA Yash Marda and STPI Gangtok additional director S.N. Siddiah as the special guests.

Amit Patro spoke about the evolving dynamics of business and urged young entrepreneurs to be disciplined, hardworking and patient.

Yash Marda expressed his vision of seeing Sikkim’s entrepreneurs rise to national and international prominence, citing events like BUD-24 as critical starting points. S.N. Siddiah highlighted the various resources and support available for budding entrepreneurs.

In his valedictory address, vice chancellor Prof. Ch. Satish Kumar reflected on the origins of the BUD event, emphasizing its purpose as a platform for young talent in the State to share ideas, learn, and receive proper guidance.

He announced that the next phase of support for these business ideas would involve assistance with patenting with the university providing necessary handholding. He encouraged participants to approach their entrepreneurial journeys systematically, noting that there are no shortcuts to success.

Students of Enchey Senior Secondary School, Gangtok bagged the title of ‘Young Business Entrepreneur of 2024’, the release adds.