how it works
First Phase: Business Idea Contest
Find the Idea!
First thing to do is to find the idea of your life! Your idea may comprise a R&D oriented service or product or it may be an on-going project with an innovative touch. Your business idea will be evaluated based on several criteria; to name a few: potential of your business idea, applicability and competition environment.
The pre-selection committee examines all submitted business ideas and decides on 40 teams. The business idea owners succeeding the pre-selection process will be pitching their ideas to a panel of distinguished judges. All team members will give their best to impress the judges with their ideas’ potential and commercial appeal, and the clarity and persuasiveness of the oral presentations. Team members should be ready to answer questions about their business idea during the presentations.
On the same day as the oral presentations, the panel of judges will decide on 20 teams that will compete as finalists. After the Business Idea Contest, finalists will attend a two day business plan workshop and the Business Plan Contest afterwards.
Second Phase: Business Plan Contest
Prepare Your Business Plan!
You have succeeded the pre-selection, delivered your presentation and have been selected among the 20 finalists. Now it’s time to attend a special workshop designed only for succeeding teams where Turkey’s leading businessmen and professionals share their experiences and insights.
The two-day workshop enables succeeding teams to gain knowledge about various topics regarding preparing and refining a business plan. The workshop will be held at Ozyegin University where participants will be lectured by leading business people, successful entrepreneurs, industry experts and entrepreneurship professors.
Following the workshop, mentors will be assigned to each finalist team. Mentors, recruited from the business world, will assist you in preparing your business plan. Business plans will be submitted via e-mail and after the oral presentations, the winner team will be announced and awarded.
Winner team’s business idea will be presented to LabX Business Angel Network. With a funding from the network, the winner team will set up their own company with support and in-kind services from Ozyegin University, WMG (Warwick Manufacturing Group) - University of Warwick, Microsoft and UKTI. LabX also provides consultancy services regarding institutionalization, building up marketing and HR strategies and guides the entrepreneurs for continuous success.
To sum up; find the idea and set up your own company!
Good Luck!
