Retail entrepreneurship is not only about making money; it is about doing something bigger than yourself, something that influences the larger ecosystem and challenges traditionally held beliefs. Over 300 of the brightest minds from India’s finest B-schools will compete to present the smartest ideas in retail at the IRF Rising Star Challenge 2017. India’s leading retail business heads will experience the energy of these young thinkers as they bring in fresh perspectives and potentially reinvent traditional thought.
RULES & GUIDELINES FOR PARTICIPANTS
The challenge invites team entries from top management institutes to submit detailed Business Plans (with Executive Summaries). The 3 best teams selected by the jury will get the opportunity to present their Business Plans in a 15 minutes’ presentation at the IRF stage on 19th /20th September 2017 at the Renaissance Hotel in Powai, Mumbai.
IRF RISING STAR CHALLENGE 2017
The incredible transformation in Indian consumer markets over the past two decades has been stunning in many respects. And for much of that period –14 years to be precise– India Retail Forum (IRF) has chronicled — and even catalysed — ahead-of-the-curve innovations in consumer experiences and fashioning India’s consumption story, whether it be food, fashion, lifestyle, home and living, leisure and entertainment, retail spaces, and so on .. which many of us have been witness to.
The IRF theme for this year’s event aptly asserts the latent power of the Indian consumption, promising demographics and retail story:
INSIDE THE WORLD’S LARGEST DEMOCRACY OF RETAIL
The IRF Rising Star Challenge is:
DIGITALLY REIMAGINE AN EXISTING INDIAN RETAIL BUSINESS THROUGH A CLEAR DIGITAL STRATEGY
Digital transformation is one of the most important topics facing retail today. The digital consumer has changed the face of retail, putting pressure on retail brands to adapt to this transformation.
Business Plan / Case Study Requirements:
a) Detail the opportunities and challenges to meet the expectations of the new customer and changing trends.
b) Draw a clear roadmap for multichannel management for the business under the recommended strategic digital outlook
c) Draw a Business Plan, detailing the necessary investments and ROI to support the new strategy
d) Predict the impact of Digitisation on sales revenue across channels.
e) Explain why the added equity or debt money for digitisation is going to make the business more profitable.
(wherever accurate financial information is not available, please make assumptions to support the case study)
2) WHO CAN PARTICIPATE (ELIGIBILITY CRITERIA)
- Participation is open to post-graduate students of all Management Institutes in India.
b) Participation in teams is mandatory, with each team comprising of THREE STUDENTS and a Faculty member from the institute as the team’s Mentor.
c) Multiple entries from a single institution are acceptable, and encouraged.
3) WHY YOU SHOULD PARTICIPATE (BENEFITS)
- To showcase your winning strategies and transformational ideas at a national platform and make a mark on the biggest names in the retail industry.
b) Opportunity to rub shoulders with the who’s who of the industry at the largest and most exciting Retail Conference in this part of the world (three top teams will get the opportunity to make their presentations at the India Retail Forum 2016 in Mumbai).
c) Vie for the IRF RISING STAR CHALLENGE 2017 Trophy, Winners Certificates, and a number of attractive prizes and gifts. Additional opportunity to get Press Coverage as a large number of leading business journalists would be present.
d) Three Finalist Teams get an all-access invitation pass with unlimited access for both days to the main Conference + Exhibition + Gala Awards Dinner (Institutions / teams would have to bear the associated travel / accommodation costs).
4) UNDERSTANDING THE CHALLENGE
a) The Case study being selected should be pertaining to a retail business which maximizes the use of digital innovation and new age media as well as technology in unique ways.
b) Participants can choose from the following criteria to build their Digital Retail Experience Expedition business around:
· Any existing physical departmental retail store such as Shoppers Stop Pvt. Ltd., Pantaloons India Pvt. Ltd.
· Any foreign retail business that hasn’t been introduced in India yet.
· Your own well imagined retail business that can be put into effect on a hypothetical basis
c) Only original business plans will be accepted. Any form or extent of plagiarism will lead to immediate disqualification of the team.
d) Proposed business plans should be practically viable and comply with the existing government policies.
5) HOW TO REGISTER
Participants desirous of entering the competition should email the completed Registration form duly signed by the Faculty mentor and bearing the Institute’s seal on or before July 25th, 2017 to:
6) IMPORTANT DEADLINES
|DATE||SUBMISSION / EVENT|
|25th July 2017||Last Date for submitting Registration form|
|7th August 2017||Last Date for submission of 500 words outline (executive summary) including Brand Name|
|16th August 2017||Last Date for submission of complete Business Plan|
|31st August 2017||Announcement of 3 Finalist teams|
|15th September 2017||Last Date for submission of 20 slides PPT|
|19th September 2017||Final presentation by the 3 teams at the India Retail Forum|
Please note: All the programme deadlines are fixed and non-negotiable.
7) GUIDELINES FOR THE BUSINESS PLAN
- Word-count: Minimum 20,000 words, Maximum 30,000 words. Should be submitted in MS Word with Font size: Arial 12 with 1.5 spacing. All pages must be numbered after the cover page and must have a header or footer stating the name of the business.
- The Business plan must have the vision, objectives, business strategy for scaling up and growing the business profitably to make it an Indian business giant which can provide a positive social impact.
Please Note: Name of the institution should not appear anywhere except on the cover page of the document.
8) JUDGING CRITERIA
a) As the most respected knowledge platform of the retail industry, every aspect of the India Retail Forum is distinguished by high standards of professionalism and quality. The IRF RISING STAR CHALLENGE 2017 will be judged by a panel of renowned retail professionals and consultants. The name of the institution will not be revealed to the jury to ensure impartiality.
9) SELECTION PROCESS FOR FINALIST TEAMS
Out of the several business plans received, a distinguished Jury will shortlist the 3 finalist teams whose names will be announced on the IRF website.
- The feedback or suggestions received from the Jury panel will be sent to the finalist teams, to incorporate in their final presentations.
- Finalist teams will make a 15 minutes’ presentation (maximum 20 slides) on the stage at the IRF Rising Star Challenge 2016 on 19th September 2017.
- Komal Agarwal
- Smriti Salhotra
- Monika Mishra
- Team Enliven
- Divya Bhardwaj
- Garima Midya
- Aparajita Mridha
- Drama Queens
- Rohan Puri
- Parul Bapna
- Rohit Jain
- Team Tanzanite
- Sahil Mansukhani
- Amit Bhalerao
- Mihir Mehta
- Team Vedanta