Competition terms
Who can apply?
The students of bachelor, master and doctoral studies at the University of Kragujevac, University of Belgrade, University of Novi Sad, University of Nis, State University of Novi Pazar, Metropolitan University Belgrade and the High Technical College of Applied Science in Zrenjanin can apply for the competition.
Confidentiality of information
When registering on the platform, each competitor will sign an electronic version of the Confidentiality Statement. Since the idea is reported on the platform as a private one, the overall idea will only be visible to team members, scores and administrators, while only non-team members will be able to see only the short description and title of the idea.
U istoriji svake ideje, jasno će biti definisano ko je vlasnik ideje i kada je ona prijavljena na INNO platformu, pa su prava intelektualne svojine definisana na početku.
When a team set up thay idea, everyone involved in the assessment process and those who have access to the idea will sign a Confidentiality Statement that relates to all the information received within an idea.
Support to competitors
Universities and business incubators will organize at least three trainings for competitors, with several modules related to entrepreneurship, innovation, intellectual property protection, business planning, financial management, etc. Participation in training is mandatory for teams, i.e. At least one member of the team is obliged to attend all trainings as the training will be directed to the development and preparation of a business plan.
In addition, each team will be provided with mentoring support. Mentors are professors, successful entrepreneurs and experts from the business sector, depending on the idea.
The staff of the Business Support Office will be available to the members for consulting team on various aspects of the development of the idea and using the UKG Inno Student Platform.
Evaluation
In the first phase of evaluation, all the ideas that are entered on the platform will be administrative checked, only the conditions of the competition and the content description of idea. Upon expiration of the deadline (March 31, 2017), all the ideas that have passed the administrative check enter the second phase of evaluation, about which team members will be notified by e-mail notification. Other applicants will receive a notification that they have not passed the second phase of evaluation and for them the competition has been completed. Each competition team that entered the second phase of evaluationt, is entitled to free education in the form of training that will be organized by experts from higher education institutions as well as by Business incubators involved in the IF4TM project. During the training, teams will work on developing and improving their ideas. As a result of training, each team will have a developed business model using the Canvas method. The duty of the teams is to prepare one-minute video material to present the idea. Recording is done by competing teams in their own arrangement. Video material is uploaded to youtube channel on May 20, 2017. until 31.05.2017. The rating of video material will be based on the number of likes on youtube until June 15, 2017. at 2 pm, which will be indicators of the marketing skills of each team. The developed business model (DOC, PDF) and link to the video material, the teams are obliged to place on the platform in the foreseen section until May 31, 2017. Upon the expiration of this deadline, the organizers of the competition shall assign each idea to three reviewers, one of which is a member of the project team of the organizer, one professor or a researcher from the field of expertise, and one reviewer from a business incubator or from an enterprise. Each reviewer receives an Excel spreadsheet with these criteria in which he enters the number of points and submits it to the organizer of the local competition no later than June 15, 2017. at 14:00. The organizer of the local competition for each idea, that is, the business model forms the middle grade and multiplies it with 0.8 as a weight factor.
The maximum number of points that an idea can get for a video material is 100 and multiplies with a weight factor of 0.2. The organizer will assign 100 points to ideaa with the largest number of characters to and idea with the smallest characters 0, and to others will be proportional assigned. By adding the ratings obtained for a business model and video material, one idea can have a maximum of 100 points after the second phase.
The organizer prepares the ranking list of the evaluation of ideas and publishes it publicly until June 16, 2017. In the third phase of the evaluation, a maximum of 10 teams and at least 5 teams will run, depending on the total number of students at the higher education institution. Based on the training they had in the second phase, each team will prepare a seven-minute powerpoint presentation, according to a template that will be delivered during the training. The final pitch presentation should be submitted to the organizers of the competition no later than 3 days before the local competition. Local competition will be organized no later than June 30,2017. where teams will present their idea to the jury and audience as a pitch presentation lasting a maximum of 7 minutes. The maximum number of points the idea can get for the pitch presentation at the local finals is 100, but it doubles with a weight factor of 0.4.
Points from the second phase are multiplied by a weight factor of 0.6.
In the sum of the points from the second and third stage of evaluation can be a maximum of 100 points.
The best two teams from each local competition will participate in the national final competition for the best student idea, which will be held no later than July 10, 2017.
Trainings
Bearing in mind that the basis for evaluation and ranking of ideas will be a business plan, so that all participants have equal support during the competition, the start-up trainings that are being realized will be unified, and will include 4 modules:
a. Business model development
b. Business model validation
c. Finance for start-ups
d. Elevator pitch