InnoVenture 2016 is here!
1st bootcamp taking place on 20 Aug 2016!
What is InnoVenture?
InnoVenture is a competition for budding technopreneurs, to come together, form teams and challenge themselves to create innovative solutions that solve real world problems.
The competition is a way to experience what it takes to ideate, work with industry, lead teams, learn how to setup a viable business and literally get your hands (not just your brains!) active by prototyping real working solutions that create impact.
Participants are challenged to come up with feasible solutions for real problems. The set of skills required to solve these problems are diverse and broad, and encourage participants to form teams of 3-4 from multi-disciplinary and multi-graduate levels.
Top teams that create, design and disrupt will receive a prototyping grant provided by NUS to develop their concepts, and bring it to real life.
Goals are simple:
1) To transform classroom learning into real hands-on experience
2) To enable students to work on projects that solve real world needs
3) To build and nurture a supportive community that thinks, invents, and shares!
Experiential Learning. Cultivating Engineering Leadership
InnoVenture stands out from other (tech) entrepreneurs competitions worldwide in 2 ways.
1) It’s all about experiential learning – Participants participate in hands-on bootcamps and workshops, interact with entrepreneurs and industry, build prototypes and pitch their ideas.
2) The competition goes beyond a paper exercise. Participants are challenged to build real prototypes and ensure that the solutions are Customer Desirable, Technologically Feasible, AND Business Viable.
Timeline and Overview of InnoVenture 2016
© Randall Y.C. Sie
All Events of InnoVenture 2016
InnoVenture Business Bootcamp 1
20 Aug 2016
Business Bootcamp 1 will introduce the problem statement by the company representatives to the participants. Furthermore, we start our journey of customer discovery by teaching the tools and interpersonal skills that will help you tackle questions such as:
- Who is the customer?
- What are the customer requirements?
- How do we contact the customer?
InnoVenture Customer Focus Workshop 1
23, 25 Aug 2016
In Customer Focus Workshop 1 the teams will be guided further in their customer discovery with help from experienced industry and university mentors. Students will learn additional tools to better analyze the problem statement and the customer, learn tips and tricks on how to validate in industry, and start on ideation. The workshops are extremely hands-on as teams will be actively working together at the whiteboard while the mentors are readily available to help you.
InnoVenture Product Development Bootcamp
27 Aug 2016
The focus of the Product Development Bootcamp is to introduce and equip participants with basic prototyping knowledge and skills. Participants will literally get their hands dirty as they engage in 3D printing, wood working, plastic moulding, drilling, wood working and many other essential prototyping equipment and skills. The skills and knowledge acquired will help in ideation and provide insight in the university resources that are available for prototyping.
Innoventure Business Bootcamp 2
3 Sep 2016
Business Bootcamp 2 picks up from the customer discovery and will focus on (financial) business concepts that are essential for successful product design. A product that merely adheres to the customer requirements, but is not within the financial means of the customer is a failed product. Furthermore, participants will get individual time with the company representatives for a first feedback round of their proposed solutions. Participants will tackle business questions such as:
What price should I be charging for my solution?
What is the unit margin of my solution?
What is the market size for my solution? Is it scalable?
Finance Workshop 2
4, 6 Oct 2016
Finance Workshop 2 continues on from Business Bootcamp 2 but provides teams the time to apply the theory with experienced industry and university staff to help them. Other financial tools such as a 5-year profitability analysis and financial modeling will be explained. The workshops are extremely hands-on as teams will be actively working together at the whiteboard while the mentors are readily available to help you.
How to Pitch Workshop 3
11, 13 Oct 2016
Workshop 3 focuses on preparing the team for IdeaLaunch. Participants will learn the contents and process of a 7 minute pitch. Teams will be given the time to start on their pitches. The workshops are extremely hands-on as teams will be actively working together at the whiteboard while the mentors are readily available to help you.
Pitch Practice Workshop 4
18, 20 Oct 2016
For teams who want to practice their pitch, or want to meet with their mentors to finalize their solution, can attend workshop 4.
Phase 1 of InnoVenture Cumulates at …..
25 Oct 2016
Phase 1 of InnoVenture cumulates at IdeaLaunch. All teams will pitch to a panel devised of the company representative and 2 other judges coming from industry/university. Selected teams will advance to the 2nd phase of InnoVenture and receive prototyping grants.
THEN THE ULTIMATE FINALE …
DemoDay is the ultimate FINALE. After months of hard work on validating business models and working prototypes, the winners from InnoVenture Phase 1 will pitch one last time to a panel of distinguished judges. Top 3 winners will be announced!