 
Το ACT λειτουργεί στην Ελλάδα ως Κέντρο Ελευθέρων Σπουδών
|
|
|
Product Technology and Venture Creation Process
A business plan approach
Competition Description
It is the our belief that the ability of innovators and inventors to present their ideas to prominent business professionals along with a business friendly government sector is essential to the vitality of the entrepreneurship in Greece and in the Balkans.
This project, which is sponsored, by John Pappajohn and Equity Dynamics Inc., seeks to integrate technological product development and business plan competition. It is intended for the Anatolia Business School’s students with an interest in starting their own business. Although the major scope of the project is technology application and commercialization, other types of innovative projects will be given serious considerations.
Eligibility
There will be two levels of competition: (1) Anatolia School of Business’ part time and full time undergraduate college students, (2) Anatolia School of Business’ full time or part time MBA students. Members of these groups are encouraged to submit proposals either as individuals or as a team. Two awards will be given one in each category of competition with a monetary award in the amount of $5,OOO. Certificates of participation will be presented to all teams submitting a project.
Business plans must be for start-up business only (not for existing companies).
Below are the various steps to guide the participants through the process.
Please follow the steps that pertain to your specific group.
Step I
Define an innovative product or technology idea, create a plan for development, prototyping, and testing of the idea, and assess its commercial potential.
Step II
- Create an E-Team. Assemble a group of students, faculty, and mentors who support your idea and want to work together with you on the project.
- Find a supportive faculty sponsor. The faculty sponsor is a member of your team and should be a resource to help you move your idea to the next level. This person should be willing to not only write a letter of recommendation for your proposal, but also be an advocate for your project, providing you with guidance and advice for its duration.
- Identify business and industry members to help you with your project. Have them write letters of support for your proposal.
Step III
- Work with your team to develop a business plan and a proposed budget.
- Research your defined market for similar products and determine your idea's market potential.
- Create a work plan for both technical and commercial development.
- Develop a market strategy.
The proposal may not exceed five single-sided, single-spaced pages (not including attachments, cover sheet, and resumes), and may not use type smaller than 12-point. Any member of the E-Team (faculty or students) may complete the grant proposal. The following information must be provided in your proposal:
- Describe the project and its innovative or inventive features.
- Describe the market potential of your project. Include the size of the potential market, your competitive advantages, and consumer appeal of the project. Proposals should present commercialization opportunities in a realistic and well-informed manner. They should provide a survey of the existing technology suitable to the project and demonstrate basic competitive intelligence, and a clear development strategy.
- List E-Team members, their skills, and backgrounds. Review committees favor proposals from E-Teams that are balanced and multidisciplinary, involving students, faculty, advisors from both technical and business disciplines, and practitioners in relevant areas.
- List advisors (faculty, industry experts, and mentors) and their skills.
- Provide a work plan and timeline for the project. Indicate whether your team will work during the summer, as an independent study group during the school year, or as part of a course. Work plans should be realistic and should clearly indicate the sequence to be followed.
- Identify the equipment and other resources necessary for the project. Indicate whether your institution will provide access to these resources.
- Attach a detailed budget and time table
(to be included only if you are seeking funding to create a prototype)
- equipment
- supplies
- travel
- technical services
- patent searches, disclosures, applications, legal fees
- marketing analysis
- business plans
- prototypes
A narrative justification for major budget items, particularly equipment, travel and technical services should be provided.
- Attach letters of support from your faculty advisor and at least one external mentor from a relevant business or industry. Letters of support should validate the technical and commercial aspects of your project.
- Attach resumes of all E-Team members, including contact information.
CRITERIA
- Technical feasibility
- Is the technology proposed appropriate, well defined, and achievable? Is it innovative?
- Is the proposed work plan and budget realistic? Does it meet the program guidelines?
- Commercial potential
- Is this project likely to further the development of a licensable or marketable product or service? Are the applicants focused on and knowledgeable about their market?
- What are the competitive advantages of the proposed technology over existing products?
- Is there evidence of consumer interest? Has a market strategy been defined?
- Student and advisor skills and commitment
- Does the team have the technical and business skills needed for the scope of the proposed project?
- Is team membership balanced between business and technical specialists?
- Have appropriate external mentors from industry been recruited?
- Strength of faculty and mentor recommendations
Do the letters of support validate the technical and commercial opportunity?
- Commitment of students, faculty, and institution
- Does the team appear to be well organized, cohesive, and committed to making the project succeed?
- Is the Faculty Advisor committed to working with the students?
- Is the institution committed to providing the students with access to necessary resources (e.g. computers, space, lab equipment, etc.)?
Regional directors selected by John Pappajohn will do the preliminary judging. Applicants need not be present for judging; however regional competition may include personal interviews at the discretion of the regional directors. John Pappajohn and his staff at Equity Dynamics will judge the final projects. Each individual or team will be required to provide a 3-5 minute oral presentation about their business and may be asked to respond to questions.
|
 |
|
