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Start-up Challenge 2011

Get Inspired! Build a business model based on researched and tested technologies. Win 2000 euros
earn student credits and a licensing opportunity with VTT plus professional help, contact and office space to start your own business. Learn more and apply before 4.4.2011

GET INSPIRED AND INNOVATE...

In spring 2011 Oulu Student Entrepreneurship Society organizes a business model innovation challenge for students of University of Oulu and Oulu University of Applied Sciences and for other entrepreneurial minded. The competition is a great chance to launch a start-up and make your entrepreneurial dreams come true. VTT provides researched technologies you can start building your business model on. Winning teams have a chance to utilize the technology in their pursuit for entrepreneurial glory.

Partners

Technopolis

TEK

...BUILD YOUR OWN BUSINESS...

The competition is divided into three events. The race starts in April with a kick off event at VTT's premises. Teams will be given more specific descriptions of the technologies and the intellectual properties. The kick off is the first opportunity for teams to introduce themselves to the hardcore business professionals in the jury that consists of seven professionals from different fields of expertise.

After two weeks of business model development an experienced business specialist will coach the team for a day to crystallize and develop the ideas and business models further. They will also evaluate the team's presentation skills and the progress of work. After the coaching day teams will have a week to finalize their model before returning it to the jury.

The final day is your time to shine. The gala day consists of two events. In the morning teams individually pitch their business model to the jury. The pitch with the written business model, forms the criteria for choosing the three best teams. The gala evening offers you an opportunity to pitch your business model publicly to a larger audience and will bring teams together. The Gala will also be open for guests and the media. The winners will walk away with great prizes and licensing agreements for the technologies. The gala takes place in Saalastinsali at the University of Oulu.

Kick off 11.4
Coaching 27.4
Written business model 4.5
Gala 6.5

...AND A WINNING TEAM...

In order to succeed you need a team. Your first task is to form a team of 3 to 6 individuals preferably from diverse backgrounds. We are looking for teams that are / have:

  • Highly innovative
  • Entrepreneurial minded
  • Interested to launch a start-up
  • Business Intelligent
  • Presentation skills

By business model we mean a basic blueprint of the strategy of how a business intends to make money. This blueprint can consist of for example:

  • resources,
  • customers,
  • business offering
  • profit formula

For further information about the business models see e.g. following literature: Osterwalder & Pigneur (2010). Business model generation: a handbook for visionaries, game changers, and challengers or Johnson, Christensen & Kagerman (2008). Reinventing your business model. Harward business review.

Describe your team in an application and tell us why you should be approved to participate in the competition. We will take a maximum of 10 teams in the competition so this is your first chance to impress us. More details about the competition and the online application form can be found at

Note that the application deadline is Monday April 4th at 16.00

...TO WIN GREAT PRIZES AND A OPPORTUNITY TO START
A BUSINESS!

Great achievements will be rewarded with awesome prizes! The best business model for each of the technologies will gain the right to licence the IP from VTT. Our network and partners will help the start-ups to launch their business during the summer of 2011 by providing professional help, contacts, funding and office space. The top three teams will be awarded with following prize money

  1. 2000 Euros
  2. 1000 Euros
  3. 500  Euros

Students of University of Oulu and University of Applied Sciences will get 5 credit points just for being accepted to this competition and finishing it!

More details about the competition can be found on the on the competition website at competition rules.

CONTACT

Oulu Student Entrepreneurship Society

Ville Suutari
Project Coordinator
ville.suutari@ouluses.fi
tel. 0408334976

Anniina Sunnari-Pietikäinen
Project Coordinator
anniina.sunnari@ouluses.fi
tel. 0503279862

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