Phase 1 - Rules
Phase 1 takes place between February and April 2010. During this period contestants develop and submit 5-page business ideas. The 3 best business ideas are awarded a cash prize of € 1,500 each.
- Obligatory registration for phase 1 before the deadline on February 22. After registration contestants can log in to use the online submission function during phase 1.
- Online submission of the business idea, a document of no more than five pages before 26 March, which should provide information on the following 6 points:
- Innovative character of the idea
- Benefit to the customer/Unique selling proposition (USP)
- Market and Competition
- Protection of the idea
- Profitability scenario
- Team
- Format: Word or PDF-document, Paper size A4, font size 10-12, line spacing 1-1.5. Apart from the content, the formal quality of the business idea will also be evaluated. The formal criteria are length (≤ 5 pages), structure as outlined above, clarity, precision, relevance and whether the explanations provided are easy to understand. Maximal two additional pages with figures and tables, clearly marked as "Appendix".
- Detailed help on how to set up and formalize the business idea summary is provided in section 2 of the BOB handbook.
- At two-day workshops the participants are provided with an intensive training in industrial property rights, market research, business strategy and finance. Participation in these workshops is not mandatory, but highly recommended. Workshop Vienna: 9.-10.4.2010; Workshop Innsbruck: 12.4., 30.6; Workshop Graz: 20.4., 22.6.
- Networking with BOB participants and alumni at the award ceremony for the best three business ideas on 29 April.
