4th Business Idea Competition

The Business Competition (from now on “Competition”) is organized by The innovation, entrepreneurship and technology transfer office, SARF, AUA, and its aim is provide the opportunity to all students (pre-grad, post-grad and PhD students) of our institution to be familiarized with the notions and terms of innovation and entrepreneurship. The objective of the following text […]

The Business Competition (from now on “Competition”) is organized by The innovation, entrepreneurship and technology transfer office, SARF, AUA, and its aim is provide the opportunity to all students (pre-grad, post-grad and PhD students) of our institution to be familiarized with the notions and terms of innovation and entrepreneurship.

The objective of the following text is to define the terms and conditions of participation to the Competition as well as the procedure that will designate/appoint the winners of the Competition.

The Competition unfolds in three phases:

1η Phase One: entrepreneurial idea submission. Deadline: 26/10/2020

To participate in the 1st phase of the Competition you ought to a) report the members of the team and their personal data and appoint one of them as a representative for communicational purposes, and b) provide a small but well-documented summary of your idea, no more than 3 pages, filling out the relevant form

InnovInAgri will accept new ideas until the deadline, 26/10/2020.

The lot of the submissions are going to be assessed by a committee comprised by members of our academic community (or of another university) as well as external partners. The committee will evaluate the idea submitted based on the information provided in the submission form as well as the team ’s composition and the idea as it is described and justified. Said committee has to be affirmed by the Research Committee of SARF AUA.

The teams that qualify for the second phase are going to be announced early November.

The results are going to be announced privately to each team.

2η Phase Two: entrepreneurial plan submission. Deadline: 15/05/2021

In this stage, through mentoring (a series of mandatory seminars), The Entrepreneurial Plan development takes place.

During The Entrepreneurial Plan development each team will be supported by an advisor for technical issues (AUA professors or AUA staff with PhD) whereas for marketing purposes by a mentor (businessman or a company executive). Each team will have different advisors and mentors.

For confidentiality reasons the legal representative (mentor) of the enterprise supporting a team will sign a Non-Disclosure Agreement. The advisor (AUA staff) will be informed the terms of the competition and will agree to them signing a relative agreement.

The seminars will include innovation and entrepreneurship classes, present in the curriculum of AUA, as well as classes by external partners.

The detailed seminars program will be announced at the beginning of Phase two.

The teams that will complete Phase Two of the competition by submitting the final deliverable will participate in Phase Three of the competition, The Award Ceremony.

3η Phase Three: Award Ceremony. Date: Late May.

In Phase Three, the Award Ceremony is taking place, with audience present, where the teams are presenting their entrepreneurial plans which will be evaluated by the Awards Committee.

If a team does not present themselves before the Awards Committee and the audience, they are automatically disqualified.

The committee is comprised by prominent academics, bankers, businessmen and business consultants; they will designate the winning teams.

The Awards Committee will evaluate individually the entrepreneurial text and the plan presentation of each team on the Ceremony day and will designate the winning teams.

Competition Awards

Three teams will be distinguished and receive a monetary prize each. The amount of the prize for each winning place is announced each year. Every winning team, awarded with a monetary prize, will divide said prize equally among all members.

All teams participating will receive a Participation Certificate.

Competition Participation: Terms and Conditions

    1. Each team must carefully read the following terms before submitting their idea
    2. Competition participation entails accepting all terms and conditions of the competition as well as relative commitment to the competition.
    3. Only AUA students are allowed to participate. Relative certificates must be provided.
    4. Only teams are allowed to participate and not individuals. Each team can be composed by two(2) to five(5) people, one of them serving as representative. It is encouraged that team members belong to different departments of AUA.
    5. Each team can submit one idea per competition. A person cannot belong to more than one team.
    6. After the idea submission deadline, no new members can enter any team. In case a member wishes to resign from their respective team, the resignation must be stated in paper. Thus entailing this person has forfeited all rights to the competition and its awards. The remaining team members will decide whether this person has any rights to the submitted idea. In case it is a two member team, then the resignation of one member entails the disqualification of the team from the competition.
    7. The idea submission is electronic via e-mail at innovinagri@aua.gr
    8. Alongside with the idea, teams must declare: “The idea about to be presented is a product of the team member’s personal work, no plagiarism is involved, no Intellectual or Industrial PR are violated. Any Intellectual or Industrial PR that may arise belong equally to all team members, unless stated otherwise in a prior intra-member agreement. In case the members decide to exploit, in any way, the results of the idea, SARF AUA shall be informed, and the competition shall be mentioned during exploitation.”
    9. Each team has sole and full responsibility about the proposition submitted and for the accuracy of the results presented. Each team undertakes all the responsibility for compensations and expenses that might arise by not abiding to the terms and conditions of the competition or, for example, by infringing Intellectual PR.
    10. Propositions based on illegal or unethical content, or break any of the terms, are automatically disqualified.
    11. Regarding the winning teams; In order for monetary awards to be submitted, the teams must provide a bank account and other information.
    12. The teams agree to participate in social media and press posts regarding the Competition. These posts include:
      • *The teams may be called to present a written description, that will be published, in whole or in part.
      • *The teams may be called to talk in interviews in Mass Media regarding their participation in the Competition.
      • *The teams agree to photo and/or video reception.
      • *The participation to Mass Media and/or the press does not entail that teams should reveal any confidential information or fiscal information regarding their entrepreneurial idea.
    13. After the competition and the award submission, the organizers assume no responsibilities.
    14. The Competition organizers maintain the right to cancel, postpone or modify the Competition for any reason, without former notice, assuming no responsibility. The organizers will inform the teams for any cancellations, postponements or modifications of the competition.
    15. The organizers maintain the right to change and/or modify any of the present terms and conditions without prior consent of the participating parties. Such changes will be posted on the web-page of the Competition.
    16. During the Competition, private data of the members of the teams shall be collected and handled according to GDPR.
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