Breakthrough Innovation Grant

Monday, January 24, 2011 jeffrey siy 0 Comments

Think of a BIG business idea that has a strong market potential and at the same time creates a impact to the Philippine society. Once you have it, go to Breakthrough Innovation Grant (BIG) website and explain in less than 500 words your proposal. Out of all the submitted entries, only 6 finalists will be chosen. The finalists will then submit a full business plan where they have a chance fine-tune the details with the help of the community and consultants. The best idea will receive a $20,000 seed grant to jump start the business.




Contest Requirements:
  • Open to all participants globally
  • 18 years of age or above
  • Group, a team of up to 10 people (all of whom 18 years and above), or a registered entity are eligible
  • Excluded from participation are: staff members of the University of Asia and the Pacific (UA&P) and their relatives up to third degree of consanguinity, staff members of the Fisherman Foundation and their relatives up to third degree of consanguinity, staff members of the S.E.Ven Fund Consortia and their relatives up to third degree of consanguinity
Contest Mechanics:
  1. Think of a business idea that:
    • is innovative and out of the box with strong market potential
    • creates direct benefits to satisfy customers
    • provides a competitive ROI
    • provides high and rising wages to and training for workers
    • has a sustainable business model with initiatives that strengthen society and do not degrade the environment
    • has Metro Manila residents as its target market
  2. Submit your idea on the website breakthroughinnovationgrant.com (Individual, Group, Entity)
  3. Entry Guidelines for online submission
    • English only
    • Maximum of 500 words
    • Upload a photo of yourself or your team
  4. Judging Criteria for 6 qualifying entries
    • Effect on the quality of life and poverty alleviation in Metro Manila
    • Promotional reach and community participation (number of votes and quality of comments)
    • Feasibility of implementation
  5. The 6 Finalists must submit the following
    • a full business plan (format provided);
    • a 60-second video clip (optional);
    • a 100-word abstract of their business plan;
    • three (3) references as proof of participant’s capability to implement the proposal (indicate the names and their contact information); and
    • Other forms of proof of capability for project implementation (e.g. – for participants from outside of the Philippines – partnership with a local institution that can closely monitor project implementation; access to networks; CV/resume; technical expertise; access to necessary equipment)
  6. Entries will be posted on breakthroughinnovationgrant.comwhere finalists need to promote the entry online through your social networks and encourage comments, feedback, and discussion
  7. Finalists will submit a final version of the business plan
  8. View complete contest mechanics
Contest Period: Submission Deadline March 15, 2011
  • December 1, 2010 – Competition Launch
  • March 15, 2011 – Entries Submission Deadline
  • April 15, 2011 – Announcement of Top 6 Ideas
  • June 15, 2011 – Finalists’ Requirements Submission Deadline
  • July 1, 2011 – Finalists Submit Revised Business Plan
  • June 15, 2011 – Winner Notification
Contest Prize:
  • Grand prize
    • Up to $20,000 seed money for implementation of the winning business proposal(s)
    • Business ideas will be patented in the United States
  • Six (6) finalists - business ideas will be patented in the Philippines
Upside:
  • Unlimited number of entries accepted
  • FREE to do
  • Online submission
  • Big seed money
Downside:
  • None
For more information, log on to breakthroughinnovationgrant.com