Formula Bharat

An Indian Formula Student competition

FB2024 Business Plan Finalists Released

2 min read

The following teams at Formula Bharat 2024 have been selected for the Business Plan Finals (in no particular order):

Combustion Category:

  • C04 Ashwa Racing – R V College of Engineering
  • C12 Team Sakthi Racing – Kumaraguru College of Technology
  • C19 Team Maverick – PVG’s College of Engineering and Technology & G. K. Pate (Wani) Institute of Management

Electric Category:

  • E15 SPCE Racing Electric – Sardar Patel College of Engineering, Mumbai
  • E16 Team Defianz Racing Electric – Delhi Technological University
  • E18 Team FalconE Racing – University of Moratuwa
  • E19 Stier Racing – Ramaiah Institute of Technology

The finalists will receive a score between 71 to 75 points.


  • Finalists will not be delivering their presentation again at the finals. The objective of the finals is to take a deep dive into the core of the proposed business plan.
  • At the beginning of the assigned slot, each team must deliver a maximum 3-minute pitch which will be a quick summary on the business model and the investment requested for.
  • The rest of the time slot will be a Q&A session in which the team will be judged on the following:
    • Comprehensiveness of Business Model – market segmentation, completeness of service delivery model, ease of customer acquisitions etc.
    • Financials
    • Implementability – realistic viability and action plan to realize the idea
    • Team Capability Analysis – HR capabilities to realize the business plan
  • Details on submitting the above documentation will be emailed to the finalists.

All the best to the finalists!

All teams should refer to the BPP Unofficial Results in which a compilation of their penalties (if any) will be mentioned. Protest period is open until 12 PM IST on 14 October, 2023. Upon finalization of the penalties (if any) post protests and clarifications, the official scores for the non-finalists will be released.

For any concerns, write to formulabharat(@)