Excitera Innovation Challenge (eic) aims to bring students, researchers and industry together concerning commercialization of research results. It creates an arena where the academic and business world can interact. The competition is open for students at Swedish universities. The cases in the competition are based on actual research findings and the outcome is an idea and innovation plan. In this way it differs from regular business plan competitions based on business concepts and results in business plans.
The contest period is divided into three phases:
- Presentation of research results. Excitera selects, in cooperation with KTH Innovation, a number of researchers who may present one or more interesting and exciting results from their research. In the beginning of the competition a couple of events will be held where the researchers and partner companies present their research case (results/idea) to inspire the participants. It will be about 4 case presentations. During these events there will be an opportunity to ask questions to the researchers, be encouraged by each other and establish contact with partner companies.
- Idea and innovation plan work. The competing teams choose one research case that inspires those most. Each team then comes up with an idea of how the research results can be implemented as a new product or service, or maybe support and strengthen an existing product or service. The idea is documented in the form of an innovation plan where information about the costumer, market and potential competitors is included. To support the participants a number of workshops will take place where senior lecturers describe how the participants should proceed to develop a high-quality innovation plan.
- Submission and assessment. Handing-in of the completed innovation plans takes place at the end of the contest period. The top teams will pitch their ideas during the final event I front of the audience and a jury consisting of selected venture capitalists, experienced entrepreneurs and possibly representatives from the competition’s partners. After a brief meeting the jury appoints the winner. The teams are judged on their previously submitted innovation plans and after their performance during the finale. Finally the winners are announced.
