Phase 1 - Rules
Phase 1 takes place between February and May 2012. 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 7 March . 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 15 April, 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 the one-on-one meetings the participants are provided with an intensive coaching in industrial property rights, market research, business strategy and finance. Participation in these one-on-one meetings is not mandatory, but highly recommended. The meetings take place at our regional partners, an online tool for scheduling an appointment with the particular partner will be provided.
- Networking with BOB participants and alumni at the award ceremony for the best three business ideas on 10 May 2012.
