Innovation Challenge for Entrepreneurship 2021 (ICE-21)
Mission
There is an urgent need for us to improve the way we access, use and manage natural resources so that we can protect and maintain these for future generations. Legacy practices have increased pollution and global warming and put 20-30% of species at risk of extinction. Innovations such as renewable energy, energy storage and electric transportation is helping us address these risks at scale as well as creating opportunities for new, innovative business models such as carbon credits, etc.
Problem Statements
We invite students to propose bold new business ideas around the following problem statements. For each problem statement we have included an ‘Inspo’ section. Your idea does not need to be at all similar to the Inspos – these are just to give you some inspiration of relevant, existing solutions in case you’re stuck for motivation.
- Propose a business idea that would promote recycling or responsible disposal of waste.
Inspo: Too Good To Go, Winnow, ShareWaste
- Propose a business idea that would utilise innovative materials to optimise energy consumption, e.g. smart meters.
Inspo: Octopus Energy
However, if you would like to work on a different entrepreneurial idea, please email your idea (max 200 words) and your team name to support@projectset.com for approval (please mark the subject of your email as ICE-21).
How does ICE-21 work?
University students are invited to participate in teams in the two-stage event. In the first stage, all teams are invited to submit a structured business plan (including a video submission) virtually. An independent panel of judges from partner organisations will evaluate these submissions and select up to 15 teams for the next stage. In the second stage, the selected teams will engage virtually with mentors to strengthen their plans over a 3-day session and pitch their ideas to an independent panel on the last day of the session. The panel will select the winners.
All participating teams will be formally onboarded and provided with a virtual workspace and collaboration tools. They will receive high-level guidance in the first stage and customised, hands-on support and coaching in the second stage.
Submission(s)
Phase-1 (Current)
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Business Plan
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Business Model Canvas (optional)
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Video Pitch (optional)
Phase-2
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Pitch Deck
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Video Pitch (optional)
Key dates
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Registration closing date: 25 Feb 2021
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Phase-1 start date: 28 Feb 2021
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Phase-1 end date: 20 Mar 2021
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Phase-2 start date: 27 Mar 2021
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Phase-2 end date: 29 Mar 2021
1. Registration
Opens on 31 Jan 2021
Closes on 25 Feb 2021
2. Phase-1
Starts on 28 Feb 2021
Ends on 20 Mar 2021
Results on 24 Mar 2021
3. Phase-2
Starts on 27 Mar 2021
Ends on 29 Mar 2021
Results on 29 Mar 2021
General
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All students are eligible, regardless of field of study and no tech skills are required.
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You must be a student currently enrolled in a University. If you are a recent graduate interested in signing up (graduating 2019 onwards) please email us at ... info@projectset.com
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You can work with friends, or new people, from your university or across different universities.
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We expect you to commit about 3-6 hours per week, which you can balance around your studies.
Team size
2 to 5
Areas of Specialisation
Open to allEvaluation
Our evaluation panel will use the following criteria to score and rate the teams:
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POTENTIAL: Who is the target customer segment? How critical is the “unmet need” that your business addresses within that community? What is the estimated revenue opportunity?
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ALIGNMENT: How well does the “unmet need” that your business addresses, align with the problem statement?
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INNOVATIVENESS: How original is your core business idea? How well is your business differentiated from existing alternatives?
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FEASIBILITY: What are and how will you manage the challenges and risks in your business? What resources do you need to build the business? What competitive advantages, if any, does your team bring to the business?
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POTENTIAL: Who is the target customer segment? How critical is the “unmet need” that your business addresses within that community? What is the estimated revenue opportunity?
-
ALIGNMENT: How well does the “unmet need” that your business addresses, align with the problem statement?
-
INNOVATIVENESS: How original is your core business idea? How well is your business differentiated from existing alternatives?
-
FEASIBILITY: What are and how will you manage the challenges and risks in your business? What resources do you need to build the business? What competitive advantages, if any, does your team bring to the business?
Phase-1
Phase-2
Hackathon terms and conditions
We advise all Hackathon members to read and understand the T&Cs.
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