Registration for New Idea Competition 2017 is open
Annual New Idea Competition (NIC) has been launched the by Baku Engineering University Technopark.
Xeberler.az informs that the following points are taken into consideration while projects’ registration:
- General information (summary): Information about product. What problem does the product solve? Development stage of product (idea, prototype, testing, sales). How much time did you spend working on product? What are your achievements in project?
- Product innovation and technological innovation: technological and innovative features of project idea, its benefits, efficiency, technological advantages from the innovation point of view.
- Market and competiveness: What is the volume of targeted market? Who are the product competitors globally and locally? How many users or clients do you have presently?
- Business Model: Brief overview of product’s business model (the ways of earning money). Have you ever received any investments to this product?
- Project team: Who are the main team members? Do you have a technical staff member dealing with product? Brief information on previous successful products/projects, if any
NIC promotes initiative (entrepreneurship) among youth, builds a bridge to
It should be noted that NIC is held once a year. Those who wish to set up thei own companies with their new ideas can participate in the contest. During past four contests 649 projects have applied to NIC so far. Of them, 30 have received direct support (initial financial support, office premises, mentors etc.).
There are locally and globally succeeded projects between supported ideas, including those became companies. Other projects get support in form of trainings and consultations.
This year’s NIC contest is supported by the Azerbaijan National Academy of Sciences, Ministry of Education, Ministry of Transport, Communications and High technologies, as well as High Tech Park, Ministry of Economy, Ministry of Youth and Sport and others.
It should be noted that startup teams that take first five places will get free of charge incubation services from Baku Engineering University Technopark, SUP.az and Next Step Innovation Centre.
The representatives of the investment partners of the contest – AzFinans Investment Company, Khazar Venture and SUP.az - will be represented at the contest jury.
Partner of the contest – Baku Holiday Travel will provide roundtrip ticket to Silicon Valley for one representative of the winner project team.
Öz Süt Company will provide 150 AZN food coupons to finalist teams, and 100 AZN food coupons to semifinalist teams.
Qalib layihələrin işinə, əlavə olaraq, "KUTVAN PROJECT GROUP" və "Sosial Innovation Lab" tərəfindən mentorluq xidmətləri göstəriləcək.
"KUTVAN PROJECT GROUP" and "Sosial Innovation Lab" will provide mentor services to winner teams.
Chronology of NIC 2017 organization:
- Online registration of projects - 10 March - 20 April
- Online evaluation of projects - 25 April - 5 May
- Announcement of semifinalists - 6 May
- Semifinal program – by 20 May
- Final and Awarding Program – by 15 June
To register to contest please click here .