Frequently Asked Questions (FAQ's)

I WANT TO PARTICIPATE IN PLANET-B. WHAT ARE THE STEPS THAT I SHOULD FOLLOW?


Step 1: Register on the website of Planet B following the eligibility mentioned on the website.

Step 2: You will have to provide the team leader's details, team member's details, postal address and other details as required. You will receive a confirmation mail.

Step 3: After confirming, you can proceed to submit your plans.




WHAT IS THE REGISTRATION / PARTICIPATION FEE?


There is no registration/participation fee.




WHAT IS THE LAST DATE OF REGISTRATION ?


The last date of registration is 26TH JANUARY 2021.




HOW WILL I KNOW MY APPLICATION HAS BEEN SUCCESSFULLY SUBMITTED?


Once an application has been submitted, an auto generated e-mail confirming the successful submission will be sent to your registered email address.




CAN THE APPLICATION BE EDITED?


No. Application once submitted cannot be edited.




DO I NEED TO HAVE A TEAM?


We allow single participation, though a team is recommended.




WHAT IS THE MAXIMUM NUMBER OF PARTICIPANTS IN A TEAM?


In one team, there can be a maximum of 4 members.




IS THERE ANY AGE RESTRICTION ON THE MEMBERS OF THE TEAM?


No. There is no restriction on age. Any person with a good idea is welcome to participate.




I HAVE ALREADY ENTERED A PARTICULAR IDEA IN ANOTHER CONTEST OR CHALLENGE. CAN I STILL ENTER IN PLANET- B ?


You are welcome to enter your ideas even if they have been submitted at another contest or challenge.




CAN I GET A NON- COLLEGIATE INDIVIDUAL TO PARTICIPATE?


Yes. A non-collegiate individual can participate.




DO I NEED TO TRAVEL TO MUMBAI FOR SUBMISSION OF BUSINESS PROPOSAL?


No. Proposal should be uploaded online on the link provided by and you are all set. Once you qualify, we will get in touch with you directly.




HOW WILL THE BUSINESS MODEL BE JUDGED?


Business models will be evaluated based on the quality of the plan, the feasibility of the business idea and the size of the market opportunity amongst other judging parameters. Judging will be done by our panel of experts.




IS THE LIST OF JUDGES FOR THE BUSINESS PLAN COMPETITION AVAILABLE TO THE PARTICIPANTS?


No. We don’t release our judge lists for any of the rounds. However, they will be drawn from a variety of backgrounds, including funders, founders, industry experts and executives, lawyers and other specialists deemed appropriate to understand the commercial viability of a business idea.




WHAT IS THE COMPLETE PROCEDURE FOR PLANET-B?


  • The participants have to register themselves online and send the summary of their business plan in the registration form.
  • Based on the summaries, the qualifying teams would be provided with online training.
  • After the completion of the training process, the participants need to submit a detailed project on the business plan.
  • The finalist would then be allocated mentors.
  • Pitching round to judges and investors.
  • Declaration of results.




DOES MY IDEA HAVE TO BE PROFIT MAKING?


No. We welcome both for-profit and non-profit proposals.




WHEN WILL THE TRAINING BE PROVIDED?


As soon as the results for the first round are declared, online training would be provided to participants.




HOW IS THE CONFIDENTIALITY OF THE QUESTIONNAIRE/ B-MODEL BE MAINTAINED?


The entries for Insight’s Planet-B are judged by reputed faculty, established entrepreneurs and industrialists who believe in promoting entrepreneurship. Your entry is viewed only by the judges. At no stage is an organizer permitted to view your Business Model. Only the organizers and judges will be present during the presentation.




CAN A TEAM CONSIST OF PEOPLE FROM DIFFERENT COLLEGES/ COMPANIES?


Yes, teams can consist of individuals from different colleges/ companies.




HOW DOES THE MENTORING PROGRAM WORK?


Mentors are experienced sector-specific entrepreneurs or experts who provide assistance and guidance to the participants. Mentors will offer suggestions and feedback to help participants develop and refine their business model. Participants will be given one to one mentorship




CAN I REAPPLY IF AWARDED BEFORE?


No. The teams who have been awarded earlier by Planet B cannot participate with the same business idea. Though if they participate with a different business idea, they are welcome.




IF I HAVE MORE QUERIES WHOM SHOULD I APPROACH?


For specific queries, you may reach out to planetb21.nminsight@gmail.com.