During this period contestants develop and submit 5-page business ideas. The 3 best business idea are awarded a cash prize of 1,500 Euro each.
- After registration contestants can log in to use the online submission function during Phase I.
- Online submission of the business idea, a document of no more than five pages, which should provide information on the following 6 points:
# Innovative character of the idea
# Benefit to the customer/Unique selling proposition (USP)
# Market and Competition
# Protection of the idea
# Profitability Scenario
- Format: Word or PDF-document, Paper size A4, font size 10-12, line spacing 1-1.5. Apart from the content, the formal quality of the business idea will also be evaluated. The formal criteria are length (≤ 5 pages), structure as outlined above, clarity, precision, relevance and whether the explanations provided are easy to understand. Maximal two additional pages with figures and tables, clearly marked as "Appendix".
- Detailed help on how to set up and formalize the business idea summary is provided in section 2 of the BOB handbook.
- At the one-to-one meetings the participants are provided with an intensive coaching in industrial property rights, market research, business strategy and finance. Participation in these one-on-one meetings is not mandatory, but highly recommended. The meetings take place at our regional partners. Please contact our coaches directly via mail for meeting scheduling.
- Networking with BOB participants and alumni at the award ceremony for the best three business ideas.
During this period contestants develop and submit their business plans. The best 3 business plans are awarded cash prizes of € 15,000, € 10,000 and € 5,000 respectively. The best medical technology business plan receives the LISAvienna Medtech Award.
- After registration contestants can log in to use the online submission function during Phase II.
- Online submission of business plans and jury presentation.
- Business plan: During phase 2, participants develop their business ideas int fully-fledged business plans. BoB coaches are on hand to provide active support.
- Format of the business plan:
# Written in English
# ≤ 35 pages including appendix, diagrams and tables
# Format: Word or PDF-document, Paper size A4, font size 10-12,
line spacing 1-1.5
# Apart from the content, the formal quality of the business plan will also
be evaluated. The formal criteria are length (≤ 35 pages), structure as
outlined below, clarity, precision, relevance and whether the
explanations provided are easy to understand.
# The content of each business plan is specific to the underlying business
concept, however, all business plans should cover these topics.
- Detailed help on how to set up and formalize the business plan is provided in section 3 of the BoB Handbook.
- Jury presentation: 10 page PowerPoint presentation (excluding 1 title page and back-up slides) used to convince the jury of the potential of the business plan and to explain the underlying concept. The business plan presentation should follow the structure of the business plan
- Selection of the best ten business plans and invitation of up to two team leaders of the respective teams to an intensive two-day coaching session. During this event, experts provide individualized feedback and advice on the business plans, the jury presentation is simulated and an intensive presentation training to refine presentation techniques is organized. Participation in this coaching session is not obligatory, but highly recommended.
- Following the coaching session, optional resubmission of the reworked business plans and (jury presentation). If no updated version of the business plan is submitted, the original version will be evaluated by the jury.
- The jury presentations by the best 10 teams will be performed to an international jury of distinguished experts from the worlds of science, industry and finance. The jury will then select the best 3 business plans as well as the best medical technology business plan.
- Announcement of the winning teams will take place at the award ceremony and gala closing festivity in Vienna. All 10 teams are invited to the award ceremony.