About Startup Auction
Startup Auction is a strategic business simulation where participants bid for companies, acquire Expert Partners, and build a diversified portfolio through competitive bidding. The event is designed to enhance entrepreneurial thinking, strategic planning, negotiation skills, and real-world business decision-making in a dynamic auction environment.
Event Details
- Date: 20 August 2026
- Time: 1:00 PM onwards
- Venue: Seminar Hall 1, CRS Auditorium, GJUS&T, Hisar, Haryana
- Eligibility: Open to all undergraduate and postgraduate students enrolled in a recognized university or college. Only team participation (2–4 members) from the same institution is permitted. All team members must be registered participants and are required to verify and confirm their details to form a team. A participant cannot be a member of more than one team. It is the responsibility of the team leader to ensure that all team members are eligible to participate in the competition.
- Registration Deadline: 10 August 2026
Event Guidelines
Limited seats are available. Register as early as possible to secure your participation. Teams will be contacted via phone call for slot confirmation after the registration deadline.
Phase 1 – Mentor Bidding
- Expert Partner Categories: Expert partners are categorized based on industry domains (e.g., Technology, Healthcare, Finance, etc.).
- Expert Partners: Each expert partner provides a 25% point boost in their respective industry and includes one Right to Match (RTM) Card for that industry.
- Bidding Process: Teams will submit closed bids for expert partners. The highest bidders will select their preferred expert partners in descending order of their bid rankings.
- Right to Match (RTM) Cards: A Right to Match (RTM) Card allows a team to match the highest winning bid for any company within their Expert Partner’s industry after the company has been auctioned. Upon exercising the RTM Card, the company will be transferred to the team holding the card at the matched bid value. Example: If your team has a Technology Expert Partner and a technology company is sold to another team, you may use your RTM Card to match the winning bid and acquire that company.
Phase 2 – Company Bidding
- Mandatory Acquisition: Each team must acquire at least one company from every industry to remain eligible for the competition.
- Acquisition Limit: A team may acquire a maximum of four companies from each industry.
- Scoring: The final score will be calculated by combining the points earned from acquired companies with the applicable Expert Partner bonus points for each industry.
General Auction Rules
- Head-to-Head Bidding: Only two teams may participate in a bidding round for a company or an Expert Partner at a time. All other teams may observe the bidding process.
- Time Limit: Each bidding session will have a maximum duration of 2 minutes.
- Tie Bids: In the event of a tie, an additional 30 seconds will be provided for rebidding. If the tie still persists, the company or Expert Partner will be awarded to the team that submitted the bid first.
- Tie-Breaker (Final Scores): If two or more teams achieve the same final score, the team with the highest single Expert Partner boost will be declared the winner.
- Participants must maintain professional and respectful conduct throughout the event.
- The organizers reserve the right to amend or modify the rules at any stage of the event, if necessary.
Awards and Recognition
- Winners will be felicitated during the Prize Distribution & Closing Ceremony on 21 August 2026.
- Winning teams will receive Certificates of Achievement, trophies, and other rewards as announced by the organizers.
- All registered participants will receive an E-Certificate of Participation.
Prizes
- 1st: Certificate of Achievement and Trophies for the Winner of the event, and Gift hamper, goodies and incentives for all the team members.
- 2nd: Certificate of Achievement and Trophies for the Winner of the event, and Gift hamper, goodies and incentives for all the team members.
- 3rd: Certificate of Achievement and Trophies for the Winner of the event, and Gift hamper, goodies and incentives for all the team members.
Team Size: 2–4
Contact
For any questions or clarifications, please get in touch with us at iconnectgjust@gmail.com or WhatsApp us at +91 9467905906. For event-related queries, kindly submit the Query Form. Our team will respond within 24 hours.
Important Links
This event is part of E-Summit'26 organized by Guru Jambheshwar University of Science and Technology, Hisar, a premier institution fostering innovation and entrepreneurship among students. The simulation is designed to mirror real-world startup dynamics, making it highly relevant for aspiring entrepreneurs and business students.
