Mumbai: The Indian Institute of Technology, Bombay (IIT-B) achieved the Eureka Entrepreneurship Competition for making an innovative gaming machine for the amusement industry. The Eureka Entrepreneurship Competition got entries from 650 colleges from all over the world.

The India Games CEO Vishal Gondal came forward to finance this start-up by the team named 8 Points Systems. "This team's gaming machine will make you ride a Dhoom 2 bike or drive a Don car," said Gondal, who felt that the entry by IIT-B was "Truly motivated, truly passionate and above all, their products is truly unique."

The second prize was achieved by the Indian School of Business and Cornell University, which jointly worked on photo wave technology for fiber optic communication. The final year students of BITS Pilani secured 3rd place for making a website that will understand personalities to predict future behavior.

The Times of India's Lead India winner R K Mishra who gave away the prizes, assured to fund a plan that was village-based, but 'non-internet and non-software based.'

Mishra while addressing 30,000-strong audiences, urged students to think out of the 'dotcom' and for "the real people." He said "All you educated people have opinions but they remain in your drawing room. Think different and of ideas that will change lives at the grassroots level."

All the finalists found venture capital coming in from an unexpected source, many of them from the Silicon Valley. Nearly 10 start-ups have been chosen for financial support.