IDEAFEST Student Business Idea Competition
The Centre for Entrepreneurship (CfE) at Kyiv National Economic University named after Vadym Hetman is running a competition open to all students (undergraduate and postgraduate) at KNEU, to be held in spring 2020. The competition is looking for the best business ideas, with finalists being invited to an event where they will present their ideas to a panel of judges.
About the Competition
The Competition gives students the opportunity to present their business ideas and gain support that could lead to the business ideas being commercialised. No prior knowledge of entrepreneurship is needed but students should be passionate about developing and pursuing business ideas. Before the entry closing deadline, participants will be invited to attend a workshop to help develop their ideas and provide insights into the theory and practice of business idea generation and development.
Entries are to be made online by Sunday 7 April 2019 by completing a questionnaire and making a short (max 3 minute) video about the idea. All entries will be reviewed by a judging panel and a shortlist of 5 finalists selected to present their ideas on Tuesday 7 May 2019. At the presentation event, attended by students and faculty members, the winners will be selected by the panel and announced, with prizes then presented.
There are a range of prizes:
The best business idea, as judged by the panel, will win a £1,000 cash prize.
There will be cash prizes of £500 and £250 for second and third places.
Competition Terms & Conditions
- The competition is open to students who are studying for an undergraduate or postgraduate degree programme at KNEU on the closing date
- The business idea must be the original work of the student team
- Entries must be received by the closing date; there will be no extension
- Prizes may be withheld if in the opinion of the judges there is no application of sufficient merit
- The decision of the Panel is final
- The application form and video should be filled out in English
- Students may enter as sole participants or in teams - a maximum of two students.
- The final of the competition will be held in English
- The entries should be registered with the KNEU Centre for Entrepreneurship web site and FB page https://www.facebook.com/kneucfe/
IDEAFEST 2020 Important Dates
Competition opens to receive entries Monday, the 3rd of February 2020
Entries deadline Friday, the 21st of February 2020
Results Monday, the 16th of March 2020
Competition Final Friday, the 3rd of April 2020
Opportunity to discuss business idea
Students are offered the opportunity to discuss their business idea before they submit their entry by attending the business idea clinic. Students can book a time slot by contacting Khlystova Olena at email@example.com
Judging the competition
Business ideas will be evaluated and a shortlist of 5 selected by a judging panel.
Entries will be judged against criteria drawn up by the panel, including:
- How unique and viable is the business idea?
- Does a (sufficiently large and growing) market exist for the business idea?
- How well does the business idea compete with existing suppliers
- Will the business idea make money?
Presentations and Prizes
The 5 finalists will be invited to attend an afternoon session at KNEU to present their ideas to the judging panel and an audience of current students, alumni, competition entrants, faculty members and guests. Winners will be announced and awards presented by the representatives of the sponsors, followed by a networking session. Presentations and awards will be held on Friday 3 April 2020.
IDEAFEST 2019 Youtube video https://youtu.be/f7AkwoZ2WyI