Innovation Challenge for Entrepreneurship 2021 (ICE-21)
Organiser
Mission
The Health and Wellness sector has grown rapidly in the past decade driven by greater focus of an expanding consumer pool on physical and mental wellbeing. The trend has spawned new businesses segments including hot yoga, nutritional supplements, free-from and organic foods, organic skincare, meditation apps, spa retreats as well as workplace wellness and wellness tourism. According to the Global Wellness Institute, the global health and wellness industry is now worth $4.2 trillion (representing 5.3% of global economic output) and growing in excess of 10% annually.
Problem Statement
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 the health and/or wellness of a specific user segment, e.g. employees working from home, students, the elderly, etc.
Inspo: Fitbit, Sweatcoin, Perkbox
- Propose a personalised supplements business offering customers the necessary vitamins and nutrients that they individually need.
Inspo: Get Nourished
However, if you would like to work on a specific entrepreneurial idea, please email your idea (max 200 words) and your team name to support@projectset.com for pre-approval (please mark the subject of your email as ICE-21).
How does ICE-21 work?
University students are invited to participate in teams for this 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)