Tata Imagination Challenge Insights

Oct 6, 2024

Tata Imagination Challenge Presentation Notes

Introduction

  • Speaker: Shivani
  • Overview of the Tata Imagination Challenge (TIC)
  • Excitement for the pitch evaluation round of season five
  • Over 300,000 participants in the event
  • Aim: To inspire small changes that can impact the world

Guest Speakers

  • Ragav Gupta (Batch 21, Tata Consultancy Services, currently at Titan)
  • Rak Singh (Batch 23, IIM Shillong, involved in last year's TIC)
  • Focus on their journeys and experiences with TIC

Ragav's Journey

  • Joined TIC four years ago
  • Gained diverse experiences across four group companies and functions (marketing, strategy, operations)
  • Current role in innovation at Titan
  • Emphasis on ownership and continuous learning

Rak's Journey

  • Joined TIC over a year ago
  • Experience of transformational growth, for example, from discomfort with data to leading marketing analytics at Air India
  • Exposure to multiple companies and roles (Tata Steel, Tata Suns, Air India, Titan)
  • Enjoyment in diverse challenges and projects

Q&A Section with Fun Vouchers

  • Interactive session with trivia questions to win vouchers
  • Example question: "Who is the mascot of Air India?"

Inspiration for Participating in TIC

Ragav

  • Interest in pitching new ideas
  • Opportunities for exposure and networking with Tata Group leadership
  • Entry into the PPI round for Tata Administrative Services (TAS)

Rak

  • Enjoyment in the competition format (freedom to choose problem and solution)
  • Critical opportunity for participating in TAS recruitment

Pitch Requirements

  • Two-minute video pitch
  • Must answer three questions:
    1. What is the idea?
    2. How will it be executed?
    3. Who is the target beneficiary?

Idea Development

Rak

  • Idea: Employment platform for differently-abled, LGBTQ community, and women with career gaps
  • Inspired by personal experiences and observed industry trends

Ragav

  • Idea: Agritech platform for retail investors to invest in farmlands
  • Personal investment experience informed the concept

Pitch Articulation

Rak

  • Addressed the five Ws: Who, What, Why, Where, When
  • Supported the pitch with impactful statistics
  • Tested pitch quality with friends and family

Ragav

  • Importance of a hook to capture evaluator attention
  • Focused on scalability, feasibility, and competitive advantage
  • Emphasized conviction in the idea for future business potential

Key Takeaways for Participants

  • Understand the problem deeply and research stakeholders
  • Quality of pitch and idea articulation matters more than the quantity of information
  • Demonstrate genuine passion and belief in the idea

Evaluation Criteria

  • Unique ideas can be impactful, but execution is crucial
  • Focus on research, feasibility, and the potential for social impact
  • Engaging with experts and stakeholders can strengthen ideas

Closing Thoughts

  • Encouragement for participants with bright ideas
  • Importance of mentorship and shared experiences
  • Reminder about reaching out for support and resources if needed

Additional Notes

  • Importance of understanding different roles and impacts of ideas
  • Questions about video pitch requirements, revenue models, and prototype expectations addressed
  • Resources available on Tata and TAS official platforms for further assistance.