Introduction
Revive Quest is a business innovation challenge hosted by IIT Jodhpur that places student teams in the role of turnaround strategists for a once-promising failed company. This article outlines the event’s purpose, structure and rules so participants can understand what to expect and how to prepare. Teams of 2–5 members are given an identical failed-business case and a shared market context; event organizers may introduce equal surprise market shifts for all teams. The competition unfolds across three parts — Distribution, Preparation and Presentation — culminating in a time-bound pitch and Q&A before the judges.
What Revive Quest Is and Why It Matters
Revive Quest simulates the real-world challenge of reviving a failed business within constrained time and uniform information. Each team receives the same failed-business case and market context, ensuring a level playing field. The exercise asks participants to act as turnaround strategists: diagnose the core causes of the company’s failure, adapt to potential market disruptions that may be announced equally to all teams, and propose a viable, modernized business model and strategic plan. The format develops analytical thinking, rapid research skills and concise communication under event timings.
Competition Structure: Distribution, Preparation and Presentation
The competition is divided into three sequential parts designed to mirror a consultant engagement:
- Distribution: All teams are allotted an identical failed-business case and the same market insights. Organizers may introduce surprise market shifts which will be communicated equally to every team.
- Preparation (5 hours): Teams have five hours to research the given case, analyse the causes of failure and design a feasible new business model and strategy that address current market disruptions. During this phase teams must synthesise information efficiently and ensure their proposed model leverages relevant modern technology.
- Presentation: Each team delivers a 10-minute pitch presenting their diagnosis, proposed business model and strategic plan, followed by a 4-minute question-and-answer session with the judges. Strict adherence to the allotted times is required.
Eligibility, Team Composition and Key Rules
Participation is open to undergraduate and postgraduate students from all disciplines. Cross-institute and cross-year teams are permitted, but an individual student may participate in only one team. Team sizes must be between 2 and 5 members. Registration for the event is free.
Key rules to observe:
- Plagiarism is prohibited — teams must credit any external sources they use.
- The proposed business model should explicitly leverage relevant modern technology as part of the turnaround strategy.
- Teams must adhere strictly to event timings for preparation and presentation.
- Judges’ decisions are final.
Deliverables, Presentation Expectations and Final Notes
The primary deliverable is the 10-minute pitch, supported by a clear diagnosis of why the company failed, a feasible new business model and a strategy adapted to the current market disruptions provided. The 4-minute Q&A is an opportunity for judges to probe assumptions, feasibility and the technological fit of the proposed solution. Teams should ensure all external sources are credited and that their proposed model demonstrates clear applicability to the shared market context and any surprise shifts introduced by organizers. Remember: timing, originality and alignment with the stated rules are essential, and judges’ rulings conclude the competition.
Conclusion
Revive Quest at IIT Jodhpur is a focused, time-bound business innovation challenge that tasks student teams with reviving a failed company using shared case material and market context. The three-part format — Distribution of the case, five hours of Preparation to research, diagnose and design a technology-enabled business model, and a concise Presentation with Q&A — emphasizes rapid analysis, feasibility and clear communication. Open to undergraduate and postgraduate students across institutes and years, the event is free to register but governed by strict rules on plagiarism, timing and single-team participation. Success requires disciplined teamwork, credited research and a practical, modern strategy that responds to the given market disruptions.