School of Business and Management Institut Teknologi Bandung in collaboration with the University of Applied Sciences and Arts Northwestern Switzerland School of Business presents the SBM ITB Swiss Innovation Challenge 2020.
The SBM ITB Swiss Innovation Challenge is an integrated innovation competition for projects at the ideation, conceptualization, and early implementation stage. The challenge is open to groups, institutions, and individuals who wish to introduce and implement an innovation or who have worked on innovation already for some time. The business idea can take the form of a product or service innovation as well as an organizational or management innovation.
The competition is divided into three phases. The first and second phases are conducted through document-based selection and the selection of final phase is through pitching presentation. The final phase will be held virtually in August 2020.
The cash award for the 1st prize is IDR 70.000.000, for the 2nd and 3rd prizes are IDR 20.000.000 and IDR 10.000.000 respectively. The first winner of SBM ITB Swiss Innovation Challenge also has the chance to get invited to exclusive events in Switzerland at the time when considered possible by the FHNW. All innovations will also be evaluated and have a chance to be commercialized in partnership with SBM ITB’s innovation ecosystem
Teams wishing to apply need to meet all of the following entry requirements:
- Your innovation project is at the pre-start-up phase, in the start-up phase or already formally established as a business or other form of organization.
- Whichever stage your innovation project is at, we expect to see a significant innovation potential and you have a clear idea of your innovation.
- You may apply as an individual, a team, a business, or other organization.
- You can enter the challenge with more than one innovation project.
- The innovation you propose can be at the ideation, conceptualization, or planning phase.
- The innovation can also be more mature in nature that you have already worked with it before but feel that it can be developed further.
- At least one team member needs to be fluent in the English language as all communication content also the material of the program will be available in English only.
- Submit your innovation project using format written in Phase I: Outlining the innovation / business idea
Please also note the following:
- SBM ITB Swiss Innovation Challenge reserves the right to refuse an application or to disqualify participants during the program without issuing a statement of reasons.
- Participants of the SIC Indonesia 2017/2018/2019 are eligible to join again, apart from those who already received prize money and/or a flight ticket to Switzerland.
Programme & Evaluation Criteria
The SBM ITB Swiss Innovation Challenge consists of three phases. The process is outlined below.
Phase I: Outlining the innovation / business idea
The prerequisite for admission to the first selection is the formulation of an innovation concept regarding the grand theme of “Sustainable Innovation for the New Normal”. It can take the form of a new business model, a product innovation, service innovation, organizational innovation, or innovation in management. You need to explain your innovation on a maximum of four A4 pages.
Your concept should include the following:
- Formulation of a clear and understandable vision and implementation (graphically/visually)
- A concrete idea: What would we like to do/have we done?
- A brief but convincing description of the innovation
- What exactly is the innovative value?
- What added value does it generate (including comparison with the competition)?
- A basic competitor analysis: What are our competitors doing? What makes our innovation stand out? What benefit do we expect from its introduction?
- Financial estimates: How much capital is required? Who will finance it?
- Estimates regarding earnings: Cost structure/break-even / profit dynamics?
- Timetable: What are the next steps?
Phase II: Turning the business idea into a business plan
In this phase, the focus is on the feasibility of your idea. You are required to submit a professional business plan of a maximum of 15 A4 pages on the basis of your concrete innovation. Your business plan may include the following:
- Summary: Business idea, vision, strategy, management, products, market, finance plan, opportunities and threats, funding offers (if applicable)
- The company: Legal structure and capital structure, owners, strategic and operative partners, controlling, consultants
- Management and staff: Organisational chart, roles, education and management experience of key people, personnel planning and development
- Products and services: Detailed description of products and services as well as value for the customer, position in the life cycle, further development and innovation
- Markets: Key market (potential and growth), customer structure, planned sales figures, competitors, competition and market analysis
- Marketing: Target markets and customer groups, PR (public relations), advertising, sales, distribution, product range, service, and price policy
- Business risks: Analysis of potential threats and how to avoid or minimize risks.
- Production and infrastructure: Location, production facilities, capacity, warehouse, suppliers, cost estimate
- Other aspects: Patent and brand protection, risk and insurance policy, public commitment
- Timeline: Deadlines, milestones
Phase III: Polishing the business plan and compiling an implementation plan
You will design a presentation that focuses on the implementation plan of your innovation. In the final pitch presentation, you need to demonstrate to the Jury of how you implement your innovation within seven minutes. This will be based on an implementation plan and the updated business plan that is required to be submitted before the final pitch presentation. The Jury consists of at least one representative of the University of Applied Sciences of Northwestern Switzerland (FHNW), SBM ITB faculties as well as seasoned entrepreneurs and business people. From the cohort of participating projects in this final phase, the Jury will select the winners and award the cash prizes. In order to be among the three winners, you will need to present the innovation of outstanding potential. The Jury selects the winners depending on the overall points achieved.
Your seven-minute presentation using a medium of choice should address the following:
- Short summary of the entrepreneurial vision/philosophy
- Integration of the innovation in the overall vision of the enterprise
- Concrete feasibility and implementation of the innovation project
- Presentation of project management for the implementation
- Expected customer and business benefits
- Innovation content and potential
|1||21 June 2020||Information announcement SBM ITB Swiss Innovation Challenge||Online|
|2||5 July 2020||Deadline Submission Stage I|
|3||10 July 2020||Announcement the selection of Stage I|
|4||15 July 2020||Seminar and Coaching of Business plan and Business Pitching|
|5||19 July 2020||Deadline Submission Stage II|
|6||24 July 2020||Announcement the selection of Stage II|
|7||4,5 August 2020||Final Pitch|
LinkedIN: Swiss Challenge ID
CP: 08170162525 (Mr Madha)