The biggest car manufacturing company, Maruti Suzuki India Ltd. has brought the 3rd edition of the competition where the prospective entrepreneurs display their innovative and creative ideas for business. The competition is known as the ‘Wagon R Think Big Challenge‘. This genuine initiative by Maruti Suzuki encourages entrepreneurship amongst the individuals who participate in this competition. The participants display their business ideas to the venture capitalists who then examine the idea for their commercial viability. If the venture capitalists are convinced and see a good growth potential even if there are chances of failure, they go for funding the idea of that particular candidate. This event was first introduced by the firm in the year 2009 and since then it has received an encouraging response in every possible manner. The second edition of this competition saw an inundate response where the registration crossed a massive number of 45,000.
The 3rd edition of Wagon R Think Big brings with it more equality and bigger focus towards the participators from the specific aimed groups. There is a fresh category in this year’s event that is specially designed for the business-schools students. This 3rd edition has been christened as ‘Wagon R Think Big Challenge 3 – Young Turks’ where it aims to encourage the entrepreneurial spirit amongst the youth.
Chief General Manager, Marketing, Maruti Suzuki India Ltd, Mr. Shashank Srivastvawas quoted as saying, “Our dynamism is to nurture the innovative ideas of business that has seen a massive popularity in the previous two editions. This year also we look forward to have more participants. This year we have introduced a fresh category to promote entrepreneurship amongst the college students. Our competition Wagon R Think Big Challenge poses the supreme test to the participant in not only the field of business idea but also the passion, intelligence and leadership to offer something big and new to the venture capitalists.”
The primary round of the registration for the mainline category began from the 22nd April 2012. This is being done through the 160 dealerships of Maruti Suzuki that is spread in 19 cities and is accepting the registrations online as well. The victorious candidate from this particular category will receive a brand-new Maruti Suzuki Wagon R and a cash prize of Rs.10 lakh along with the car. The candidate would also get an opportunity to get his/her business idea funded by the venture capitalists to begin their business.
The college students can register themselves for the competition from the last week of this month. As many as 120 colleges will be represented by their students of more than 12 cities through the invitation of the organizers. The smartest and best idea for business amongst the students could win a cash prize of Rs.1 lakh.