Sunday, January 16, 2011

Breakthrough Innovation Grant 2011

Join the Breakthrough Innovation Grant 2011 and get a chance to win a grant of up to USD $20,000.00 for your business project proposal.

This contest is open to individuals or groups of 10 people aged 18 years old and above globally.

Who is Eligible to Participate?

* This competition is open to all participants globally.
* Entries may be from an individual 18 years of age or above, a team of up to 10 people (all of whom 18 years and above), or a registered entity.
* 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.

Grant Award
Up to $20,000 seed money for implementation of the winning business proposal(s)

How Do I Participate?

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. Complete the competition entry form on the website. Entries may be submitted electronically by an individual, a team of up to ten (10) members, or a registered entity. Each individual or team may submit an unlimited number of entries, and all text must be submitted in English.
* there are 3 entry forms for each category... for the individual, group or existing entity.
3. Promote your entry online through your social networks and encourage comments, feedback, and discussion.

Selection Process

Initial Round:

All qualified participants will submit their ideas to the official BIG website until March 15, 2011. Entries will be screened and narrowed down to 6 participants. Initial entries will judged based on the following criteria:

* 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

The 6 finalists will be announced on April 15, 2011.

Final Round:

The 6 finalists will personally be contacted to participate in the final round. Upon selection, the finalists must submit the following by May 15, 2011:

* 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)

Entries will be posted on and finalists will promote their entries through various social networks and online media. Finalists will also be assigned specific business consultants who can help them refine their grant entries prior to the final selection of the grant winners. The finalists will submit a final version of their business plan after incorporating the comments, feedback, and suggestions from the community by June 15, 2011.

The final six business ideas will be patented in the Philippines, and the winning business idea(s) will be patented in the United States.

The BIG winner(s) will be announced on July 1, 2011 and chosen to receive a grant of up to USD $20,000.00.
Important Dates:

* 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

- open to individuals and groups worldwide. It would be a great honor for the country if a kababayan wins this contest.
- Philippine contestants have bigger advantage to this contest because the target market are Metro Manila residents.
- deadline is on March 15, 2011

For more information about this contest, visit the Breakthrough Innovation Grant website.

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