Objective of the event:-
The objective of the event is for students to unleash their inner entrepreneur and use their business minds to create an exceptional product and market it to the judges under an allocated budget.
Learning outcomes:-
- The Participants get an idea of how bidding/auction works.
- The students get a fair idea of how you create a product under a specific budget.
- They also learn marketing skills while pitching their product.
About the event:-
The event was started at 11: 30 a.m. with Dr. Sachin and Mr. Sanjeev as the judges and with anchors Manya and Ujjwal. First and foremost, the students were enlightened with the rules and regulation of the event. The event was conducted in three rounds: -
- Round 1 – In this round, the participants were supposed to choose and decide which materials they want to buy from the pseudo market within an allocated budget through an auction.
- Round 2- In this round, time was utilized to create a product with ideas and the raw materials purchased and this round was for 60 minutes.
- Round 3- In this round, participants pitched their product in front of the judges and got the best score possible.
Rules and Regulations: -
- Participation was allowed in teams of 2 to 4 members.
- Raw materials were provided. However, the participants could bring their own coloring and adhesive materials with them if they wish to.
- Participants were given an allocated budget to purchase the materials from the shopkeepers in the pseudo marketplace.
Auction Rules: -
- Your Bid will only be accepted when you raise your placards.
- If you wish to raise the bid, the increase in the price after every bid will be 100.
- You can only bid further after the auctioneer says the next bid amount.
- Only the top bidding teams will get the materials at the maximum bid price and remaining teams will get it on higher price (final bid price plus base price).
- You will only get the materials if you are willing to bid for the same.
Photos of the products created by different teams :-