Jumpstart was launched as a signature project of the Rotaract Club of Achievers Lanka Business School under the Professional Development avenue, for students to get corporate exposure and jumpstart their professional careers. Over time, it modified into a platform that gives aspiring entrepreneurs in Sri Lanka the opportunity to kickstart their entrepreneurial journeys. Since its inception in 2017, Jumpstart has undergone multiple exhilarating changes that have opened up countless opportunities for its participants and substantially enhanced their professional lives.
If you are someone that wishes to become a successful entrepreneur with a business idea that could change the course of history but feels you don’t have the necessary skills or understanding of startups, then Jumpstart is the ideal place for you!
Read on to find out everything you need to know about Jumpstart 2022!
This year’s theme for Jumpstart is ‘Empower, Embolden, Emblaze’, which perfectly sums up our aim to empower aspiring entrepreneurs to step up to the challenge, embolden them with all the tools and skills necessary to take their first steps, and help emblaze their entrepreneurial journey.
Jumpstart 2022 will happen under three categories:
- Boardroom Challenge
- Pitch It! Win It!
- Shark Tank
An introduction session will be held at the start of the event to make potential participants aware of why they should participate in Jumpstart this year.
This challenge is aimed at students of Achievers Lanka Business School, where they can prop their ideas and learn through trial by analysing companies. The students will be divided into teams and instructed to run a case study on the standards provided. Ultimately, they will dispense the information gathered by presentations to a panel of judges on preset criteria.
Pitch It! Win It!
A platform where entrepreneurs and idea wizards may present their business ideas to a panel of judges and compete for huge prizes to jumpstart their venture. All Pitch It! Win It! contestants are required to attend a number of workshops tailored to improve their performance in the preliminary round.
A series of workshops will be organised, which aims to inform participants about several important aspects that should be taken into account when developing their business ideas and ultimately experiencing success. These seminars will be crucial in helping the participants get ready and equipped since they will provide them with a general understanding of entrepreneurship, starting with the fundamentals, and help them prepare the best possible pitch for Pitch It! Win It!
The series will be comprised of the following workshops:
- Problem Identification: 25th November
- Business Canvas Model: 1st December
- Finance and Bookkeeping: 6th December
- Intellectual Property Rights & Data Protection for Startups: 8th December
- Digital Marketing
- Preparing a Proper Business Plan
- Pitch Perfect
Prior to the Preliminary Round, the contestants will get a fantastic opportunity to advance their skills through the workshop series, and all the Pitch it! Win it! contestants are encouraged to participate in them.
The participants will pitch their business ideas at the Pitch It! Win It! – Preliminary Round after the workshop series. The choice of using Sinhala, Tamil, or English for their presentations is up to the participants. Translators can be arranged for participants that require them with prior notice to the organisers. The presentations will be followed by a Q&A session with the judges. The participants will be quizzed on topics including the application, viability, return on investment, etc. of their business ideas. The teams with the most creative business ideas will move on to the Finale.
If chosen for the finals, each finalist will also be assigned a mentor who will aid them in getting ready for the Finale.
The Pitch It! Win It! – Grand Finale will feature the Preliminary Round finalists. Each team will be given assignments to evaluate their capabilities in various areas, including strategic thinking and decision-making. After the Preliminary Round, details on the Finale’s specific format will be released.
The top three Pitch It! Win It! teams will each receive prizes that will help them grow their companies. Prizes worth LKR 100,000 will be given to the winners in this category, including co-working spaces, IT solutions, HR solutions, portfolio solutions, web hosting, and mentoring.
Registrations for Pitch It! Win It! will be open real soon!
This will be a networking event, done in the guise of a competition, where growth-stage startups will be able to meet with potential investors from a variety of industries who might be interested in providing them with capital in exchange for a return for equity in their companies. This category is for people or groups who run growing businesses.
After enrolling, contestants will be asked to present an overview of their startup based on the following criteria as part of the selection process for this category:
- Existing revenue generation
- Business Model
After several rounds of discussions, the chosen individuals or teams will get the chance to pitch their business to potential investors. The participants will receive professional advice from potential investors, and a chosen number of businesses will get the opportunity to participate in advanced incubation or acceleration programs, which could eventually lead to potential investments. Additionally, they will gain from the opportunity to forge enduring relationships with customers.
Registrations for Shark Tank will be opening after the Workshop Series!
If you are an ideator or an entrepreneur, Jumpstart 2022 is not an opportunity you want to miss. Stay connected with the social media pages of Jumpstart by the Rotaract Club of Achievers Lanka Business School for more information!
Written by: Rtr. Hiruni Hettiarachchi & Rtr. Himaki Mendis
Edited by: Rtr. Vinuri Ramanayake