For these young innovators, it’s Eureka at IIT-B
“There are waste tyres which end up at landfills. We are now planning to start a venture called ‘sweep’, which will focus on these waste tyres. We plan to convert the tyres to oil that can be used by industries to heat systems. Our concept is based on solid waste to energy to environment protection. We are seeking funds and Eureka gave us a platform to network with venture capitalists. It has given our plans a major fillip,” said Rohit Kumar, a second year M Tech student from IIT Bombay. The team won a cash prize of Rs 75,000 and will get an entry to the finals of ‘E-Bootcamp’ organised by BASES (Business Association of Stanford Entrepreneurial Students), Stanford University.
This year, top 25 teams battled it out at Eureka finals, held during “Entrepreneurship Summit” on Sunday, organised by the Entrepreneurship Cell of IIT Bombay.
With a prize of Rs 40 lakh, the event had 5,150 registrations from budding entrepreneurs, up from around 3,500 in 2011. The competition has helped churn out at least 40 successful start-ups. Like the previous years, Eureka 2012 had parallel tracks, “Eureka business”, “Eureka social”, “best entry from IIT Bombay”, “technology and sustainable development award” and “Eureka
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