Frequently Asked Questions

A business idea is a concept which can be used for commercial purposes. It typically centres on a product or service that can be sold for money, adopting a unique model. The characteristics of a promising business idea are:
  • It must fulfil a customer need or societal need.
  • Innovative
  • Unique
  • Clear focus
  • Profitable in the long term
  • Entrepreneurs who have an early stage venture (set up not earlier than 1st September 2012) or have a promising idea with a plan and prototype / working model / proof of concept.
  • The applicant must have the principal business unit (for existing businesses) or proposes to set up principal business unit (for those who have not yet started operations) in West Bengal.
  • The business plan or the early stage venture should not be an extension of the applicant's family business or backward / forward integration with any existing business.
  • The venture or the plan should have a determinable revenue model.
  • There is no restriction on the age or background of applicants.
  • The applicant should be able to verbally communicate in Bengali / Hindi/ English.
  • The Application in the prescribed format should be submitted in English.
  • The plan / venture should not belong to following industries- alcohol, tobacco, gambling, firearms and explosives
  • Step 1: Register as a new Egiye Bangla user. Click here to Register.

    Step 2: Log in using the registered User ID and password to start the Application process. Click here to Login

    Step 3: Please read the guidelines on the Application form before proceeding to fill up the Application.

    Step 4: Please follow the instructions for each item and complete the Application form.

    Step 5: The Application form can be saved (click "Save") any number of times before final submission. Once the application is ready for final submission, the please click on "Submit". Please note that no changes will be permitted after the Application has been submitted.

    Step 6: You will get a confirmation of the submission through registered Email id. Applicants must quote the Registration Number received during registration process for all future correspondence.

    Please click here for Step by Step guide on the Registration and Application process.

    Last date of submission of Application is 21st October, 2015.

    For any assistance please contact your nearest DIC (District Industries Center)

    • The shortlisted applicants will be communicated both via Email and SMS confirming their selection to the subsequent stages. All such communication will be sent to Applicants' registered Email Id and Mobile number.
  • Entrepreneurship is the development of a business from the ground up — coming up with an idea and turning it into a profitable or sustainable business.
  • Incubation is an activity aimed at helping and guiding new entrepreneurs grow their business. Incubators help entrepreneurs solve some of the problems commonly associated with running a start-up by providing workspace, arranging seed funding, mentoring, and training.

    The IIM Calcutta Innovation Park (IIMCIP) is a not for profit (Section 8) company established under the aegis of IIM Calcutta to promote Entrepreneurship and Innovation. The broad objectives of IIMCIP are:

    • To promote entrepreneurship and create a nurturing ecology where fledgling enterprises with innovative ideas and solutions can flourish
    • To promote Innovation in research and business through industry-academia partnership
    Please visit the website: to know more about IIMCIP

  • A start-up is a business initiative working to solve a problem where the solution is not obvious and success is not guaranteed. It is an entrepreneurial venture or a new business in the form of a company, a partnership or temporary organization designed to search for a repeatable and scalable business model.
  • Money invested in a business from external sources to provide financial support. Funding can be either a debt (loans) or equity (portion of capital).
  • Start-up capital refers to the money that is required to start a new business, whether for office space, permits, licenses, inventory, product development and manufacturing, marketing or any other expense. This is also called Seed Capital.
  • Activity rendered by experienced and knowledgeable persons with a view to guiding and handholding the start-ups on various aspects of business (e.g. marketing, finance, etc.).
  • Venture fund or Venture Capital (VC) is money provided to seed, early-stage, emerging and emerging growth companies. The venture capital funds invest in companies in exchange for equity in the companies it invests in, which usually have a novel technology or business model
  • Owner/Promoter/Investor's share of Capital invested in business
  • A Revenue Model lays-out the process by which a company actually makes money by specifying how it is going to charge for the services provided. It identifies which revenue source to pursue, what value to offer, how to price the value, and who pays for the value. It primarily identifies what product or service will be created in order to generate revenues and the ways in which the product or service will be sold.
  • Market demand is the sum of the individual demand for a product from buyers in the market. If more buyers enter the market and they have the ability to pay for items on sale, then market demand at each price level will rise.
  • Sometimes a business will send a new product to a select group of customers before it is released into the full marketplace. In return, the customers will help identify any problems in the product and provide feedback on the product's performance. Any necessary changes based upon the feedback can then be incorporated into the product before its launch.
  • These are characteristic features about product / service to make it unique to stand out from those of competitors. Businesses do this to gain an edge in industries where multiple competitors produce similar products or offer similar services.
  • A proof of concept (POC) is a real life implementation /execution of a certain method or idea to demonstrate its feasibility, or a demonstration in principle, whose purpose is to verify that some concept or theory has the potential of being used.
  • Short presentation of a business idea covering all of its critical aspects, and delivered within 7-8 minutes usually to evoke interest among potential investors. The goal of an Elevator Pitch is to convince the audience that your Idea is something they need to know more about.

Egiye Bangla

'Egiye Bangla' is a unique Contest-cum-TV Reality Show for start ups (aspiring and recent entrepreneurs) based in West Bengal to showcase their unique business ideas and get a chance to win recognition, rewards, and support for their business.

The MSME&T Department, Government of West Bengal, in partnership with IIM Calcutta Innovation Park, has launched 'Egiye Bangla', an entrepreneurship TV reality show. This contest-cum-show would identify, recognize & reward aspiring and early-stage entrepreneurs having unique innovative start up ideas across all sectors. Through this TV show, the state desires to seek entrepreneurs with bright ideas, who, with little help and recognition, may become successful entrepreneurs, creating wealth and employment opportunities within the state of West Bengal.

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