FIIB, is one of the few B-schools in Delhi that encourages entrepreneurship in its MBA graduates. In order to align and integrate entrepreneurship with business education to help graduates pursue their entrepreneurial dreams, the college introduced Meraki in 2012. Meraki is a Pan-Asia business plan competition for entrepreneurs where their ideas face a litmus test in front of leading angel and venture capital investors. The platform provides an opportunity to get seed funding and guidance on improvement of plans that the budding entrepreneurs might have. Some highlights of why Meraki is different are sighted below
- Annual Event: Meraki has completed three successful editions so far and each edition has become better and grander than before. Meraki receives entries from many top management institutes and colleges of India including IITs, IIMs, NITIE, FMS, IIFT, IMT and many more and every year the competition intensifies making it a sought after Business Plan competition.
- Judging Panel: Meraki hosts leading investors (as mentors and judges) from funds including AsiaBridge, Canaan Partners, Lightspeed Ventures, Providence Equity and Zephyr Peacock.
- Grand Prizes: In addition to valuable assessment and feedback on business plans, winning teams are awarded fellowships to help launch their ventures. Over Rs 2,50,000 worth fellowships have been awarded each year along with massive exposure for the teams to meet investors for seed funding and guidance.
Journey through Meraki
In 2012, the first edition of Meraki was hosted. After a tough call, Team We Thinkers from SNDT Women's College was judged as the winner with participating team from IIM Bangalore was declared as the first runner up. Top two teams walked away with fellowships worth Rs. 1,75,000.
In 2013, Meraki was hosted for the second time with the competition getting fiercer. The college once again received entries from top management institutes and colleges. Teams from Great Lakes Institute of Management, Jamnalal Bajaj and IIT Kharagpur were announced as top three teams that received fellowship worth Rs. 2,50,000.
Meraki returned in 2014, with top 10 teams presenting their plans to the judges and each of the top 3 winning ventures were awarded Meraki fellowship of a combined value of Rs 2,50,000 that acts as seed funding for the ventures and also given an automatic entry into the Fortune Venture Incubator(FVI). Teams from D J Sanghvi College of Engineering, Fortune Institute of International Business and Goa Institute of management were judged as the winners. This year Meraki also saw a wide variety of plans ranging from music to transportation, wedding planning to health care and hospitality industry to food industry.
The 4th edition of MERAKI (2015) received 182 high-quality business plans from various colleges including few international colleges. The Top 12 Finalists in 2015 included a wide array of business plans - from women safety device, to mobile application which allows a user to access media files from multiple devices of their phonebook contacts, to a service strategy that is devised for the unorganized sector-Beauty and SPA facilities at doorstep, to an e-retailing website and many other innovative B plans.The teams received valuable advice and feedback from the top investors and entrepreneurs which helped teams to further plan their business strategically. The semifinalists and FIIB students got an opportunity to attend an interactive workshop with Mr. Anshoo Sharma, Principal, Lightspeed Venture Partners on "Tips for Budding Entrepreneurs". The winners were felicitated by fellowship of Rs.1,50,000/-, Rs.1,00,000 and Rs.50,000/-.
The 5th edition of MERAKI (2016) received 144 high-quality business plans from various colleges including few international colleges. MERAKI'S 5th edition included judges like Mr. Manish Kheterpal, Partner, WaterBridge Ventures, Mr. Vishal Dixit , Ex-Partner, Mayfield Ventures, Mr. Sarbvir Singh, Angel Investor and Advisor, Venture Backed Companies/ Funds, Mr. Anshoo Sharma, Co-Founder and CEO, MagicPin, Mr.Puru Vashistha, Director, Deal4 Loans & Angel Investor. MERAKI'S Top 12 Finalists in 2016 included a wide array of business plans based on cloud computing, e-commerce, mobile-based social network application platforms as well as social initiatives, sustainability issues, waste management and many other innovative ideas.