DICE-INVENT 2014

Startup Today Enterprise Tomorrow

A Start-up Competition Opportunity
Dear Cyberian, Hurry up!
Get yourself registered for Start-up competition initiated by DICE and
IBA Karachi before June 30, 2014
About DICE
DICE Foundation, is a non-profit organization, registered in Michigan, USA. DICE Foundation in
collaboration with its domestic and international partners, is pursuing a DICE Program in Pakistan, to
foster culture of Innovation in the country and transform Pakistan into an innovation-driven economy.

About INVENT
Invent is a nation-wide Entrepreneurial Challenge started in 2010 by IBA Karachi. IBAs
Center for Entrepreneurial Development (IBA-CED) Karachi came up with a unique
entrepreneurship program to inculcate entrepreneurial mindset amongst the university going
Pakistani youth.

For Further Details

You are advised to visit the following link before stimulating your entrepreneurial muscles.
http://140.174.69.133/invent/index.html

Who can participate?

All currently enrolled students of Virtual University of Pakistan can participate in groups in
following categories:
Group A: Engineering & Technology, Computer Sciences and Information Technology
Group C: Arts & Humanities, Business and Social Sciences

Team Requirement and Idea submission

1. Each team can have a max of five members. Each team is encouraged to have one member
from Industry.
2. Each team needs to submit their most innovative projects from various disciplines routed
from the university.

3. Come up with your one page unique business idea along with names of your team
members before June 15, 2014. Email the required details at sre@vu.edu.pk.
4. Society for Rising Entrepreneurs (SRE) will guide you through out the registration process
in first phase.

Remember:
1. DICE-INVENT is not a business plan competition. Its a start-up competition where you
will be initiating actual business.
2. You will arrange your own finance to initiate your business idea.
3. Your actual business activities will be evaluated at multiple stages and deadlines are given
in the program schedule.
4. There are four stages before reaching the final stage and for each stage you will be asked to
submit a detailed report on the deadlines mentioned in the program schedule.

Program Schedule
Activity

Start Date

End Date

Stage 1: Official announcement &

Introductory Session (via HEC link)

20th Feb, 2014

20th Feb, 2014

Universities submit project titles, one page description

and team membership, online

1st May, 2014

30th June, 2014

Proposal review, sent to all participant teams

1st July, 2014

7th July, 2014

Stage 3: Prototype Development & Pilot Business Launch

8th July, 2014

8th Sep, 2014

Stage 3 Completion:
Submission of Initial Report

8th July, 2014

8th Sep, 2014

Stage
4: Continuation of the Launch Evaluation
& Launch Phase of the Pilot Business

9th Sept, 2014

15th Nov, 2014

Stage 4 Completion:
Submission of Final Report

9th Sep5, 2014

15th Nov, 2014

Short
listing of Finalist Teams

16th Nov, 2014

30th Nov, 2014

Finalist
Teams Preparation

1st Dec, 2014

19th Dec, 2014

Final
Event Symposium Finalist Teams Presentations

20th Dec, 2014

21st Dec, 2014

Post
Event Review

22nd Dec, 2014

28th Feb, 2015

Judgment Criteria
Grading 1 - Initial Report with alpha version of the startup/project Prototype: (30%)

Submit a report with supporting power points, alpha release of the project/startup and
videos of the Pilot launch (this report includes the opportunity details, product, degree
of innovation, Potential Impact on local industry and economy, first few customers,
margins, failures / success and action plan for the next stage.
Grading 2 - Final Report with beta version of the startup/project Prototype and Business
Model: (40%)

Submit a Final report with supporting power points, beta release of the project/startup
and videos regarding the update on product, number of customers served to date,
customers, customers feedback, margins, breakeven, financial statements regarding
profit and loss, feedback from faculty, growth plans.
Grading 3 - Final Presentation with demonstration of Final version of the
startup/project on the Event day: (30%)

The teams will present their Innovative startups to Judges from Academia and
Industry. Apart from a power point presentation, the final release of the project/startup
should also be demonstrated in the presentation. The final presentation will be on the
final day of the event in Dec 2014.
The final score will be a sum of grades achieved in the three stages. The main
emphasis would be on the innovation, functional status and number of customers
served.

Disclaimer
Its a start-up competition. Virtual University of Pakistan does not offer any financial
assistance nor responsible in case of any loss. The team is solely responsible for success or
failure. The team will participate with all moral support and guidance of Society for Rising
Entrepreneurs and Virtual University of Pakistan.