Proteus Innovation Competition (Proteus IC)
$5,000.00
Competition
Description:
The Proteus Innovation Competition is an intense four-month competition that will challenge individuals to create a viable commercialization strategy for 1 of 5 promising technologies, in hopes of winning a cash prize of up to $5,000. This three part competition allows contestants to hone their business skills, work with a variety of experienced advisors, and accelerate the commercialization process of discoveries coming out of Ontario’s institutions.
Comments on Funding:
Participants will compete in the pitch competition to win a prize of $5,000.
January 12, 2024
Eligibility:
Applicants must:
1. be anyone in the community over the age of 18;
2. have an interest in developing their business skills;
3. create new networks and make a team. A team can consist of 1 person or multiple individuals of no more than 9 members.
Application Steps:
Applicants must:
1. sign up for the Proteus Innovation Competition, click on the register. Registration opens after the launch event;
2. participate in business plan workshop;
3, participate in pitch workshop.
Participants who pass the abstracts and business plan stages will compete in the pitch competition.
Attendance at workshops is optional but highly recommended.
Documentation Needed:
Applicants must submit:
1. Abstracts, including:
a) Project Title;
b) Team Name;
c) Team Captain: Name, Email Address, Phone Number, Area of Expertise;;
d) Technology they will be pursuing;
e) Description on how the technology works (Limit: 250 words);
f) Target market and what will they use it for (Limit: 250 words);
g) Additional Team Members: Name, Email Address, Specialty.
2.Business Plans, including:
a) Team name, members and technology;
b) Description of the Market: define the problem, describe the size and scope of the problem;
c) Description of the Technology: How does it solve the problem? How is it better/different from the competition? Is it ready to go, or does it need to be further developed (what needs to be done, cost and time)?
d) Description of how the Technology gets to Market who will use the technology. Who will pay for the technology? Who will produce, distribute, sell, and maintain the technology? Understand the scale of the opportunity
3. Pitch slides, including:
a) Description of the technology;
b) The problem they are solving;
c) Market strategy;
d) Competitive analysis;
e) Team details.
Other Things to Note:
Proteus IC has selected 5 technologies from 5 universities: Western University, McMaster University, the University of Windsor, the University of Waterloo and Wilfrid Laurier University, for participants to develop commercialization plans for.
About the author
Maurice
