ICT Innovative Business Idea Competition
This competition, usually organised once a year in collaboration with local universities, aims at attracting and encouraging the innovative minds from our University students by challenging their creativity and capacity to come up with Innovative Business IDEAS in ICT, focussing particularly in the creation of the next big Innovative ICT Solutions to solve life real problems and to improve daily life of citizens.
This Competition is in line with the Government Vision on establishing a Techno-entrepreneurship Culture to build an Innovative ICT Start-up Nation.
The Objectives
The objectives of the ICT Innovative Business Idea Competition are:
- To promote a culture of Innovative start-up among our University Students.
- To encourage multidisciplinary collaboration to emerge with Innovative/ creative IDEAS.
- To empower Tertiary students to create business as from the University level.
- To stimulate the creation of new employment opportunities in local communities.
The Competition Stages
The business IDEA has to demonstrate innovation and creativity at first, following which the Business MODEL need to convince the Jury Members that this is the best MODEL for the Innovative IDEA. Moreover the commercial viability of the IDEA needs to be demonstrated together with a live presentation in front of the jury members
The Competition usually comprises different stages:
- Launching, Registration and Validation
- Submission of IDEA Form
- Screening of application and selection best teams based on IDEAS by judges.
- Training to work out Business Model, Business plan and Financial Forecasts.
- Submission of Business Model, assessment and selection based on best Model.
- Assistance to work out Business Plan and Financial Forecasts.
- Submission of Business Plan and Financial Forecasts.
- Assessment and selection of team for next stage.
- Assistance to prepare Live Presentation.
- Live presentation of project to select award winning team.
- Award Ceremony.
Who should participate?
- This competition is open to all University Students: Undergraduates, Graduates, Postgraduates and Researchers.
- Participation requires a team comprising of a minimum of 2 members and up to a maximum of 4 members.
- The team should comprise of any combination of University Students: Undergraduates, Graduates, Postgraduates and Researchers.
- At least one member in each team must be doing/ has completed an ICI course or has a degree or is enrolled for a Masters/ Research in ICT course in a University or has the necessary knowledge/ skills to develop the prototype of the idea proposed.