ANNOUNCEMENT: We are pleased to announce that the 2011 Breakthrough Innovation Grant winner is GKonomics!  All final business plans submitted were very strong and we’d like to thank all finalists and participants who had taken part of this competition.  We hope that this competition has inspired you to continue your contributions in alleviating poverty and social improvement.

The Breakthrough Innovation Grant is no longer accepting submissions.  All votes and comments are in for the initial judging process.

Individual |  Group |  Existing Entity

Who is Eligible to Participate?

• This competition is open to all participants globally.
• Entries may be from an individual 18 years of age or above, a team of up to 10 people (all of whom 18 years and above), or a registered entity.
• Excluded from participation are: staff members of the University of Asia and the Pacific (UA&P) and their relatives up to third degree of consanguinity, staff members of the Fisherman Foundation and their relatives up to third degree of consanguinity, staff members of the S.E.Ven Fund Consortia and their relatives up to third degree of consanguinity.

Grant Award
Up to $20,000 seed money for implementation of the winning business proposal(s)

How Do I Participate?

1. Think of a business idea that:

• is innovative and out of the box with strong market potential
• creates direct benefits to satisfy customers
• provides a competitive ROI
• provides high and rising wages to and training for workers
• has a sustainable business model with initiatives that strengthen society and do not degrade the environment
• has Metro Manila residents as its target market
  

2. Complete the competition entry form on the website. Entries may be submitted electronically by an individual, a team of up to ten (10) members, or a registered entity. Each individual or team may submit an unlimited number of entries, and all text must be submitted in English.

3. Promote your entry online through your social networks and encourage comments, feedback, and discussion.

Selection Process

Initial Round:

All qualified participants will submit their ideas to the official BIG website www.breakthroughinnovationgrant.com until March 15, 2011. Entries will be screened and narrowed down to 6 participants. Initial entries will judged based on the following criteria:

• Effect on the quality of life and poverty alleviation in Metro Manila
• Promotional reach and community participation (number of votes and quality of comments)
  
• Feasibility of implementation

The 6 finalists will be announced on April 15, 2011.

Final Round:

The 6 finalists will personally be contacted to participate in the final round. Upon selection, the finalists must submit the following by June 15, 2011:

• a full business plan (format provided);
• a 60-second video clip (optional);
• a 100-word abstract of their business plan;
• three (3) references as proof of participant’s capability to implement the proposal (indicate the names and their contact information); and
• Other forms of proof of capability for project implementation (e.g. – for participants from outside of the Philippines – partnership with a local institution that can closely monitor project implementation; access to networks; CV/resume; technical expertise; access to necessary equipment)

Entries will be posted on www.breakthroughinnovationgrant.com and finalists will promote their entries through various social networks and online media. Finalists will also be assigned specific business consultants who can help them refine their grant entries prior to the final selection of the grant winners. The finalists will submit their initial requirements by June 15, 2011, from which their entries will be posted for public feedback. The finalists will submit a final version of their business plan after incorporating the comments, feedback, and suggestions from the community by July 8, 2011.

The final six business ideas will be patented in the Philippines, and the winning business idea(s) will be patented in the United States.

The BIG winner(s) will be announced on July 22, 2011 and chosen to receive a grant of up to USD $20,000.00.

Important Dates:

• December 1, 2010 – Competition Launch
  
• March 15, 2011 – Entries Submission Deadline
• April 15, 2011 – Announcement of Top 6 Ideas
• June 15, 2011 – Finalists’ Requirements Submission Deadline
• July 8, 2011 – Finalists Submit Revised Business Plan
• July 22, 2011 – Winner Notification

Terms & Conditions
BIG has sole and absolute discretion to determine which submission entries, if any, merit an award. BIG reserves the right, in its sole and absolute discretion, to change, modify, extend or reduce the terms and conditions of, or to suspend or terminate, the competition without prior notice. BIG will endeavor to inform participants of any such change, modification, extension, reduction, suspension or termination, as the case may be, through any media outlet deemed appropriate by BIG in its sole and absolute discretion. BIG further reserves the right to nullify and/or cancel any part or all of the competition if it appears that any fraud or malfunctions have occurred in any form whatsoever. Each participant undertakes to indemnify and keep BIG harmless from and against any loss, damage, claims, costs and expenses which may be incurred by or asserted against BIG as a result of such participant’s participation in the competition. BIG reserves the right to edit, copyedit, or modify any submission. Submission of an essay comprises permission for BIG to publish the contents in any form it deems appropriate, including but not limited to, its website, newsletter, manuscripts, conferences, and other publications. Authors will receive proper attribution. It is BIG’s intention that the collected essay manuscript will be published, but BIG does not warrant that the manuscript will be accepted or that any specific essay will be guaranteed publication.

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Please select one of three options to register and submit your business idea.

Individual |  Group |  Existing Entity