To be able to develop an idea it has to be tested. That is the first important step. We have therefore developed a program called the Academic Business Challenge. In this program a group of students evaluate business ideas mainly from researchers and graduate students. The best idea and the best evaluation will be rewarded with scholarships.
6-9 ideas will be chosen for participation. The program language is English.
We know from experience that many strong business ideas remain within the academic world, even though they could break through and be utilized on a larger scale. We also know that as a business idea owner one may need support to further develop ones ideas - sometimes there is not enough time, sometimes you simply just need another set of eyes.
Academic Business Challenge starts on February 18 and runs for 8 weeks. We expect you, as a business idea owner, to participate in a workshop/kickoff on February 18 to meet with your student team and describe your idea and then be available for questions about your idea during the program. Academic Business Challenge is a collaboration between Uminova Innovation and Umeå School of Business and Economics and is managed as a course at Umeå University. Students from all faculties are invited to apply, which allows for mixed teams. Each team will be matched with one idea, for which they will sign a confidentiality agreement. The teams will work with questions regarding customer need, potential customer segments, market potential, competitors etc.
The following scholarships will be awarded:
• Best work - 8000 SEK to the students and 3000 SEK to the business idea owner
• Most promising business idea – 5000 SEK to the business idea owner
Participant in Academic Business Challenge 2010: “The advantage of ABC is that you get the opportunity to work together with students from various university programs and an experienced business coach. You get a lot of encouragement which helps you move forward, and questions arise which are not thought of before. ABC is an excellent and pleasant way to test your ideas and the possibility of commercializing your research results."