Engg students create their own IPL
Twenty-20 league matches, an auction for players, thousands of rupees and even an after-party; the National Institute of Industrial Engineering (NITIE), Powai, has imitated the Indian Premier League (IPL) model to the last detail.
NITIE Premier League (NPL) 2.0, now in its second year, is an exercise in cricket, entrepreneurship and financial management. The final match of NPL 2.0 is on Tuesday.
Last week, groups of students from NITIE bought teams by cities names, then bought players both local (from within their college) and foreign (from outside their college). Teams had a cap on four foreign players.
This year groups invested a total of Rs1.56 lakh during the bidding, with the money going in to the cash prizes as well as to cover organisational expenses. Teams also 'bought' players for notional values and not actual money, with the spending cap at Rs6 lakh per team kitty.
"We wanted to have a flagship sports tournament with entertainment as well as a new kind of pedagogy through the practical experiences of branding, marketing, entrepreneurship and money management," said Ryan George, media coordinator for NITIE. Each of the teams has a designer, brand manager and brand ambassador and has raised money through sponsorships and selling team merchandise.
The Delhi team - Delhi Dashers - which was bought at Rs38,000 making it the most expensive team will play the least expensive team, Rajasthan Warriors, bought for Rs16,500 on Tuesday. Teams got one 'icon player' each for free. At Rs2.27 lakh, Priyesh Jaiswal, 25, was the most expensive player this year and was snapped up by Delhi Dashers.
With 41 runs off 11 balls and 38 runs off 13 balls in his last two matches, his owners' investment appears to have paid off. "I have always been good, so I was expecting to be in the top league, but I never thought I would be bought for this much," said Jaiswal.