The objective of the Idea Challenge is to encourage young people with enterprising ideas that make the most of resources available locally. The proposals should be based within the country, generate local employment, and should be self sustaining. The idea should also not require investment worth more than Rs 1 million.While UNDP will not be investing on any ideas, there will be prizes for the best proposals from the submissions.
Submissions will be judged on the basis of three phases. The first phase 'Most Popular Idea' will require the submissions to get the most number of votes via the website. The 50 most popular ideas will then carry on to the next round. Phase two is the Judges' Choice wherein each idea will be carefully evaluated by the judges alone. The applicants behind the 50 ideas will participate in idea management, skill development, and business development training. Then they will refine their ideas and present it to the judges along with a business plan. Judges will then select the best 15 from the lot. The final round is the short listing round where the top three and then the final winner will be awarded the Idea Challenge.
Participants can submit more than one idea but each idea must be different. All proposals, which include a description of the idea, the idea plan, and a supporting picture, must be submitted in the English language.
Idea Challenge 2016 will provide a space to aspiring entrepreneurs to learn from experts and from each other.
Interested participants should log on to www.ideastorenepal.com to send their proposals by January 31.
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