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ColossusINNO2017

A global competition in search of breakthrough innovative ideas to rapidly transform and mend the intended gap in any ASEAN country Read Overview...
Overview

We are awarding $100,000 USD to a startup anywhere in the world with a transformative idea that can be scaled in the ASEAN region. Whether you are building smart city solutions to change infrastructure built 50 years ago or whether you are changing the way people travel, eat, communicate, learn, trade, if you are changing mindsets – we want you.

When coming up with ideas, entrepreneurs will need to take into consideration of a few things – their innovative ideas must be big enough to address the current gaps in the ASEAN market, they will need to produce a world-class concept with advantageous technology, that is feasible and realistic.

Additionally, the proposition must also be appealing in terms of value to the prospective customer, as profitability of product plays a vital role in the selection criteria.

Guidelines

Judging Criteria

KEY 1 : Concept and Product

  • Product competence
  • Uniqueness and relevance of business opportunity
  • Competitive advantage
  • Fulfillment of customer needs

KEY 2 : Feasibility

  • Marketing strategy
  • Feasibility of product and technology
  • Availability and cost of intellectual property proposed
  • Feasibility of marketing strategy

KEY 3 : Target Market

  • Characteristic of market
  • Expected market share to be achieved
  • Requirement in accuracy of identifying market
  • The potential and existing competitors
  • Business model and application on market trend

KEY 4 : Financials + funding

  • Profitability of business
  • Time required for business setup
  • Cost of business
  • Consistency with bottom up and top down analysis

KEY 5 : Team

  • Strength of team
  • Passion and focus on target market
  • Role of team members
  • Future human resource planning

Visit the COLOSSUSinno2017 site for more information

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