The Entrepreneurship Cell of IIT Bombay on October 8 announced that it organised the annual edition of its Virtual Stock Market competition. The competition was held on October 2, 3 and 4, 2021, with trading open for 2 hours each day.
Sponsored by Upstox and Stocktwits, the aim of the competition was to help the youth learn trading in a virtual environment before beginning to invest in the real world. The winners of this competition received Rs 2 lakh in prizes.
As the funds were virtual, but there were no losers here and no risk involved.
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"At Upstox, we constantly strive to identify innovative approaches that allow us to remain true to our goal of increasing equity participation in the country. Our partnerships with IPL and ICC have worked well for us in this regard. This Virtual Stock market competition by E-Cell - IIT Bombay was an effective way to give students a hands-on experience of trading without the risk of losses. This collaboration enabled students to take their first step toward investing," Upstox co-founder Kavitha Subramanian said.
"Getting the youth to invest early and experience the power of investing is one of the greatest things that can lead to long-term wealth. It is delightful to see how IIT-Bombay has recognized the importance of financial education and early investing. I strongly believe investing should be introduced into the curriculum at the school and college level, to create greater awareness around the matter of investing for the future, and I commend IITB and its students for their farsightedness." she further added.
IIT Bombay's E-Cell has been running the VSM for over 10 years and this edition of VSM was also highly successful with over 8000 participants.
Commenting on the VSM, Stocktwits' vice president Shiv Sharma said, "Stocktwits is super excited to be associated with IIT Bombay and support India's largest Virtual Stock Market Competition. Post-Covid, young Indians have demonstrated immense interest in both equities and crypto. Our aim at Stocktwits is to support this generation by providing the community and content to help investors & traders of all assets, styles, and experience levels to connect, learn, profit, and have fun.”
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