Kotiyak Vatina Adahasak (KVA) is Sri Lanka’s first ever tech innovation and entrepreneurship based reality television show. KVA’s focus is to inspire innovative ideas with the power of technology for a better tomorrow. Mobitel together with Sirasa TV launched this program in 2016 as a multi-season series.
During the program contestants compete against each other in the process of transforming their innovative ideas into viable products/services and potentially into successful business startups where these contestants commence their entrepreneurship journey. Innovations are expected in a range from a simple tech gadget to a composite solution for a critical issue or something completely novel. Contestants are encouraged to use new technologies and to come up with innovative products, solutions, systems, platforms, apps etc and importantly with business sense in mind.
Program consists of several stages in line with “idea to product” life cycle, where each stage is evaluated by a panel of judges. Overall show highlights how emerging entrepreneurs apply, get chosen, brainstorm, design, code, develop, pivot, mentoring, evaluation and finally, the big pitch.
REGISTRATION AND ORIENTATION
First season of KVA commenced in July 2016 after a press conference held at Mobitel Innovation Center and Registrations started there after Registration was an online process and were called across all media to submit their ‘idea’ together with other details. Orientation session of the program was held afterwards in to inform contestants on more details of the program, how they should pitch their innovative ideas, how to protect intellectual property rights of their ideas, how the program is going to happen etc. Furthermore there was a very interactive Q&A session to clarify contestant queries. After the orientation program there was a registration process to issue contestant numbers and to inform the dates of their first pitching round. Session was overwhelmed with a gathering of tech enthusiasts and innovators all around the country.
From 1200 (approx.) initial applicants, 120 were shortlisted for the second round and 24 of those who had a sound technical and business plan were put forward to the 3rd round. Main aim of these two rounds are to do a five minute pitch about the idea with the most effective facts to convince the panel. It was judged by a panel of judges consisting of experienced entrepreneurs, Professionals from Academic sector and young entrepreneurs.
MAIN PITCHING ROUNDS
From the third round on wards it was to evaluate the actual design, development, prototype, final product, business, marketing and investments etc. The applicants were shortlisted based on standards of the prototypes built, business model with details of projections on operational and financial performance, marketing campaign to get their startup off the ground. Workshops were organized throughout with experts, giving teams the technical/relevant knowledge to bring an ‘’Idea’’ to a final commercial product. Mobitel contributed with comprehensive technological, mentoring and financial assistance to contestants to develop a final commercial product from its concept stage.
From the prototype evaluation round (third round) 12 out of 24 teams were selected for the fourth round which was the business pitch from which 8 teams were qualified for the next round, marketing evaluations round (Fifth round). Six teams selected for the sixth round was evaluated based on the completeness of the product and overall business and marketing strategies and investment pitches and four best teams were qualified to stand their ground on the stage of the grand finale. KVA four finalists products were Easy Deposit, Sure Cash, Ai Tech and Kingroder.
KVA grand finale was held on 21st of January at Stein Studios in Ratmalana in a grand scale where Easy Deposit team was crowned as the team with the “idea worth millions”.