Creative and Innovative Product Ideas

Let your business idea bloom

With seed funding totalling Rs.1 CRORE*

WHAT EXACTLY IS IC Square?

(IC)2, Inter College Innovation Challenge, is a unique programme by Rajan Nanda Innovation Lab (RNIL) – an innovative body owned by one of India’s most reputed engineering conglomerates – Escorts Limited.

The programme gives students from colleges across India an opportunity to transform their ideas into flourishing businesses. In its first year, (IC)2 is inviting entries in the fields of agri-tech and infra-tech. RNIL will fund the top 10 innovative ideas with seed money of Rs. 10 lakhs each, for a total of
Rs. 1 CRORE*. So, if you have a path-breaking business idea, apply now. Who knows the one signing the business deal by the end of the challenge is you?

CONTEST TOPICS

Technologies to boost power, reduce fuel consumption
Electric Tractor – technology for low cost Li-ion or other battery options to reduce input cost
High Quality Paint – low-cost & high-quality technology
Telematics / Sensors – telematics or predictive forecasting technology on tractors
Precision and automation – based tractor accessories and technology
Innovative technology based Spraying solution – manual spraying cause health problems / unproductive and time consuming
Land preparation, seeding & harvesting units – Sugarcane harvester / cutter (current solutions are too expensive and need customized innovative solutions)
Precision guidance and crop compatibility – value based Rotavator to decrease fuel cost and add benefits for premium and better margins
Weed Management & Stubble/Residue burning addressable technology – Weed management & control technologies & solutions to address sustainability & residue wastage and burning issue
Soil Health Analysis
Smart Water Management – Smart water management, moisture indexing and water mapping project for smart irrigation and reduce water wastage
Alternate Fuel – Methane, fossil fuel, solar technologies
Alternate and productive Fertilizer
Pricing strategies, market research and analysis, consumer survey methods.
Design, planning, optimisation and control of operational processes in production and transportation.
Building experiences, access to services, people, and markets, and skill development.
Mobile apps, AI, precision agri services, crop planning, budgeting and consulting.
Smart construction technology, Smart cities relevance.
Automotive Design & Ergonomics.
Smart Railway innovation in communication, comfort and Safety.
Automotive Design & Ergonomics.

THE CHALLENGE PROCESS

Submit Idea

Submission

Register your team and submit your idea to the IC2 team for assessment. The idea must be submitted in the required format and must be accompanied by a descriptive video. The video should not be more than 5 minutes long and the file size should not be exceeding 300 MB.

Qualifying Round

Our panel of esteemed judges will separate into smaller groups, divide the entries among themselves and evaluate them on the basis of the following parameters:

1. Innovation
2. Feasibility
3. Social impact
4. Business value

Each parameter carries a weightage of 25 points. The top 25 entries will be shortlisted for the next round. In case of ties, the cases will be re-evaluated by the complete panel.

The Finale

The Finale will be a virtual one-on-one presentation round with our jury. Each finalists will get 10 minutes to present a pitch deck incorporating what their idea is, its journey for the next five years and the business valuation. Post the presentation, the jury will conduct a 10-minute question and answer round to clarify the doubts, if required. Post the jury round, the winning innovative ideas will be announced in October 2020 and will receive the seed fund for their dream ventures as per the stated and agreed terms and conditions.

BRIEF OF THE CONTEST

IC Square is an Inter College Innovation Challenge, an intellectual property of Rajan Nanda Innovation Lab, an initiative by Escorts Limited. The program will scout for innovative ideas and start-up concepts in the area of Agriculture (Agri-Tech), Construction Equipment technology (Infra-Tech) and unique rail transport technology solutions (Rail-Tech). This will be an annual program which will select 5 best ideas to be incubated with a seed fund of 10 lakh each and will hold an equity in each of the start-ups.

Terms and Conditions for IC Square Contest ("Contest")

1. These terms and conditions apply to the IC Contest rolled out by Rajan Nanda Innovation Lab, Escorts Limited ("Company") and by entering the Contest, the participant ("You") accepts and agrees to be bound by these terms and conditions.

2. Eligibility : This Contest is open only to those who sign up at the [IC-square.com] and who are [18 years of age or older] as of the date of start of the Contest. The Contest is only open to legal residents of India. Employees of the Company, its affiliates, subsidiaries, associates and channel partners (collectively the “Employees”), and immediate family members are not eligible to participate in the Contest. The Contest is subject to all applicable central, state, and local laws and regulations.

3. Agreement to Rules : By participating in the Contest, You agree to be unconditionally and completely bound by these terms and conditions. You hereby represent and warrant that You meet the eligibility requirements. In addition, in relation to the Contest, You agree, confirm and undertake to accept the decisions of the Company as final and binding. The Company has the right to amend (add, delete or modify) these Terms and Condition governing the Contest, prospectively or retrospectively, at its sole discretion and without prior notice.

4. Contest Period : Entries will be accepted online starting on [20th May,2020, IST 0000 hrs] and ending [24th June, 2020 0000 hrs]. All online entries must be received by [24th June, 2020 0000 hrs].

5. How to Enter : The Contest must be entered by submitting an entry using the online form provided at [IC-Square.com]. The entry must fulfill all Contest requirements, as specified, to be eligible and be successful in the Contest. Entries that are incomplete, incorrect, illegible, incomprehensible or do not adhere to the rules or specifications may be disqualified at the sole discretion of the Company. You may enter only once. You must provide the information requested. You may not enter more times than indicated by using multiple email addresses, identities, or devices in an attempt to circumvent the rules. If You use fraudulent methods or otherwise attempt to circumvent the rules, your submission may be removed from eligibility at the sole discretion of the Company. The Company shall not be responsible for any loss of entries for any reason whatsoever including, due to any technical problems for entries received after the deadline as a consequence of computer service delays, interruptions, electronic failures or overloads, or for lost, misdirected or misplaced entries. The entries are void if unreadable, inaccurate, incomplete, damaged, tampered with, falsified, mechanically reproduced, not in prescribed format, irregular in any way or otherwise not in compliance with these Terms and Conditions. Mere participation/submitting entries in the Contest does not entitle the Participants to be compensated in any manner whatsoever by the Company.

6. Winners Selection and Notification : Company reserves, at its sole discretion, its right to select and declare or not to declare the Winner in the Contest. Winners will be selected by a Jury under the supervision of the Company. Winners will be notified by [Email] within five (5) days following selection of Winners. Company shall have no liability for Winner’s failure to receive notices due to spam, junk e-mail or other security settings or for Winner’s provision of incorrect or otherwise non-functioning contact information.

7. Rights Granted by You : By entering this Contest, You understand and agree that the Company, anyone acting on behalf of the Company, and Company’s licensees, successors, and assigns, shall have the right, to print, publish, broadcast, distribute, and use in any media now known or hereafter developed, in perpetuity and throughout the World, without limitation, your entry, name, submissions, statements about the Contest, and biographical information, for news, publicity, information, trade, advertising, public relations, and promotional purposes, without any compensation, notice, review, or consent from You. By entering this Contest, You represent and warrant that your entry is an original work, and does not violate any third party’s legal, proprietary or intellectual property rights. If the content of your entry is claimed to constitute infringement of any proprietary or intellectual proprietary rights of any third party, You shall, at your sole expense, defend or settle against such claims. You shall indemnify, defend, and hold harmless the Company from and against any suit, proceeding, claims, liability, loss, damage, costs or expense, which the Company may incur, suffer, or be required to pay arising out of such infringement or suspected infringement of any third party’s right(s). The Company shall also be free to use any ideas, concepts, know-how or techniques contained in the entries received for the Contest for any purpose as it deems fit, without the need for compensating You in any manner whatsoever. If your entry infringes upon the intellectual property right of another, You will be disqualified at the sole discretion of the Company.

8. Company Rights : Company reserves the right, in its sole discretion, to cancel, terminate, modify or suspend the Contest, at any point of time, without the need of assigning any reasons, without any prior notice. Company reserves the right, in its sole discretion, to disqualify any individual who tampers or attempts to tamper with the entry process or the operation of the Contest or website or violates these Terms & Conditions. Any attempt by an entrant to deliberately damage any website or undermine the legitimate operation of the Contest may be a violation of criminal and civil laws. Should such attempt be made, COMPANY reserves the right to seek damages to the fullest extent permitted by law.

9. Limitation of Liability : The Company is not responsible for any errors or omissions in the terms and conditions contained herein. All information provided in the Contest is provided "As is" without warranty of any kind. The Company makes no representations and disclaims all express, implied, and statutory warranties of any kind to the participant(s) and/or any third party including, without limitation, warranties as to accuracy, timelines, completeness, merchantability or fitness for any particular purpose. By entering, You agree to release and hold harmless the Company and its subsidiaries, affiliates, partners, representatives, agents, successors, assigns, employees, officers, and directors from any liability, illness, injury, death, loss, litigation, claim, or damage that may occur, directly or indirectly, whether caused by negligence or not, from Your participation in the Contest.

10. Disputes : This Contest is governed by the laws of India. As a condition of participating in this Contest, You agree that any and all disputes that cannot be resolved between the parties, and causes of action arising out of or connected with this Contest, shall be resolved individually, without resort to any form of class action, exclusively before a court located in Faridabad, Haryana having exclusive jurisdiction. Further, in any such dispute, under no circumstances You shall be permitted to obtain awards for, and hereby waive all rights to, punitive, incidental, or consequential damages, including reasonable attorney’s fees. You further waive all rights to have damages multiplied or increased.

11. You agree that you shall not hold the Company and/or its directors, employees, officers, affiliates or subsidiaries, responsible for delays or any problem in connection to the Contest. The Company and/or its directors, employees, officers, affiliates or subsidiaries, is in no manner whatsoever responsible and/or shall not be held liable in any manner whatsoever, for any injury, death, mental trauma caused to You in any manner whatsoever or for any reason whatsoever in connection to your participation in the Contest.

12. Under no circumstance, shall the Company and/or its directors, employees, officers, affiliates or subsidiaries, be liable to the Participant and/or any third party for any lost profits or lost opportunity, indirect, special, consequential, incidental, or punitive damages whatsoever. You specifically agree and confirm not to file in person/through any family member and/or any third party any applications, criminal and/or civil proceedings in any courts or forum in India against the Company its directors, employees, officers, affiliates or subsidiaries to claim any damages or relief in connection with the Contest