Best Product Innovation Award

About PDMA

The Product Development and Management Association (PDMA) is a global community whose skills, expertise and experience power the most recognised and respected innovative companies in the world. PDMA's members include product development and management practitioners, academics and service providers in a variety of industries and knowledge areas, including new product process, strategy innovation, market research, tools & metrics, organisational issues and portfolio management.

Since 1976, PDMA is the only organisation that focuses on the unique set of integrated activities involved in the full lifecycle of product development and management, including innovation. PDMA also distributes the annual Outstanding Corporate Innovator Award, the only innovation award which recognised sustained qualifiable business results from new products and services.

PDMA-India strives to promote the NPDP Body of Knowledge developed by PDMA, USA and entrepreneurship among the students. In this connection PDMA-India establishes an award for best business plans submitted by the students of engineering, arts, science and management. Students who are currently enrolled with any full-time program can participate in this business plan competition. For any questions, please feel free to speak to us at +91-900-306-9000 or email us at

Competition Structure

At the first stage, we shall have the call for submission of business plans from various colleges across India through posters and online reach-outs. A one-page abstract of the business plans are then submitted by interested students [comprising of a team size of not more than 2] via e-mail to The subject of the e-mail shall be “Business Plan Competition-PDMA India Conference 2018”.

The shortlisted abstracts are then then intimated to present through a video conferencing mode to our team of Consultants from Fhyzics to trim down to the 3 best ones. The duration of this presentation shall be 10 minutes.

The top 3 shortlisted business plan presentations shall then be called forward to present at the conference before a 3-member jury consisting of the speakers group to present at the Conference to happen at IIT-Madras on Dec. 22, 2018. The duration of each presentation shall be for 7 minutes followed by the Q&A for 2 minutes and a feedback for 1-minute.

Based on the jury’s decision the winners, runner-up and 1st runners up awards (that includes cash award and citation) are decided.


Any team with at least one active member has to be a full-time student with a University or an affiliated college within the Indian geography. The maximum allowable team size shall not exceed 2. Individual students may also enter provided they are still actively pursuing their course currently. A degree-candidate(s) is expected to have played a significant role in conceiving the venture and hold a key management role in the venture. Proof of an active college ID shall be available whenever applicable.

A degree-candidate student(s) must serve as the team leader, must be actively involved in the business venture that is to be presented, and also be the primary presenter in the final round and shall not authorise anyone else to present on their behalf. An individual shall not participate on more than one team and/or submit more than one proposal.

What is an acceptable Business Plan?
An acceptable business plan is one which addresses one or more aspects of the below mentioned points:
1) Shall be a new venture or business
2) If it is a takeover (acquisition) or a merger of a current business the new business plan shall address a significant change that shall ultimately add value
3) Creating a new entity from a current enterprise

What is not an acceptable Business Plan?
Fhyzics has all the rights reserved to reject any business plan for the reasons mentioned but not limited to:
1) Plagiarised contents from the internet
2) Objectionable content that is in violation of any local, state or national law
3) Is devoid or insufficient of contents

PDMA-India, represented by Fhyzics Business Consultants Private Limited completely and truly honors the confidentiality of all participants' concepts and business plans. Neither the Business concepts overviews nor the business plans will be copied for any purposes other than use in the competition. The jury that evaluates these business plans also recognizes the sensitivity of the materials being presented by the participants.

Teams may include the following optional disclaimer on the cover sheet of their submissions, recognizing that it is not a legally binding agreement:

“This business plan is confidential and is presented solely for the purpose of evaluation in the Business Plan Competition. This plan may not be reproduced or redistributed in whole or in part. By accepting a copy of this plan, the recipient agrees not to reproduce or disclose the contents of this plan to third parties without the prior written consent of its authors.”

How are we going to judge your Business Plan?

The business plan to be presented shall be judged on the following aspects:

1. Relevance and originality:
The idea has to be something than can be implemented in reality in the current scenario. The executive summary shall completely outline the business idea.

2. Financials:
The business plan shall provide details as to how an idea can be financed with the inclusion of the income statement, balance sheet, cash flows, break-even analysis and required value of financing the idea.

3. HR & Marketing
The business plan shall include the outline about the skills and positions needed to structure and execute projects. The assessment on marketing shall be based on information related to research and testing, price, distribution, and product. The plan will be compared and justified with the submitted budget to determine whether the marketing and communications analysis can be realistically implemented.

4. Production & Operational Aspects
The business plan shall outline the production aspects if applicable and the operational activities. Teams shall take into account the benefits of sub-contracting the production, the capacity of the proposed business in addition to the logistics of the production scheme and time frame for overall completion. Care must be taken to consider the major suppliers, warranties, levels of customer service and level of quality management.

5. Quality focus
The business plan shall when presented be precise, professional, and coherent. Facts related to the business concept must be clear and concise. Spelling, unambiguity, consistency, completeness, grammar, and formatting will be given due consideration.

6. The viability of business venture
The business idea shall be ultimately feasible. Competitors analysis shall be have been taken into consideration along with paying importance to aspects like: operating risks, insurance, contingency plans, social and ethical issues with a validation and relevance to the business idea.
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