Ludhiana West MLA Gurpreet Bassi Gogi on Wednesday flagged off a bike rally to promote Future Tycoons start-up challenge program among the people. Addressing a seminar at SRS Govt polytechnic college, Gogi stated that Future Tycoons is a unique initiative launched to help the marginalized and downtrodden sections of society, providing opportunities for financial help for their ideas and ventures.
He mentioned that the program has been launched in association with "Startup Punjab", the Bhagwant Singh Mann-led Punjab government agency for developing the startup ecosystem in the state. He invited potential participants, stakeholders, and the public to join the Future Tycoons Startup Challenge and propose new ideas, concepts, or plans for their projects.
He also highlighted that the administration will provide full support to help turn these ideas into reality. Gogi also encouraged the people to wholeheartedly participate in this unique initiative. The program was launched on August 15 by Cabinet Minister Balkar Singh.
The participants can register either by visiting www.futuretycoons.in or by physically visiting the office of District Bureau of Employment & Enterprises, Pratap Chowk until September 16. A dedicated helpline- 9646470777 has also been started for the purpose.
The challenge is open to individuals residing in Ludhiana across five key categories including open category (For all residents of Ludhiana). An Entrepreneurship Conclave and Boot Camp designed to prepare shortlisted participants for the next stages will also be organized. The shortlisted participants will then pitch their ideas in front of Jury Panellists, consisting of Industry Experts, Financial Experts & Academicians.
The Jury Round will be held on October 4, 2024. A five-day mentorship program from October 7 to 11, 2024, will be held to support finalists in refining their business presentations and strategies, with the grand finale to be held on October 15 at the Dr. Manmohan Singh Auditorium, PAU, where the best ideas will be recognized.
Cash prizes for winners in each category are: ₹30,000 for first position, Rs 20,000 for second, and Rs 10,000 for third. An amount of Rs 13.10 crore as seed capital/angel investments has already been pledged by key partners, CICU and Ludhiana Angel Network and Innovation Mission Punjab ensuring that participants have access to essential funding.