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Entrepreneurship

SUNDhub startup incubator (18th June):

The initial Workshop of SUND Hub’s Start-up incubator program was the “Bootcamp Session”, where Peter Birk from Accelerace and Anders Graabæk from Validate (two Start-up acceleration Organisations) introduced us to the Entrepreneurship path. In this workshop we were introduced to the “Five anchors of a good opportunity”, where we were invited to think if our solution was creating significant value for a compelling medical need or problem, if it was a good fit and timing and with a differentiation and sustainable advantage over other solutions, and lastly, whether it would have a profit and return potential. We were also advised to “Love the problem, and not the solution”, to allow for innovative ideas upgrading our solution, avoiding staying static in one solution that does not fit the needs of the patient. Moreover, we did several exercises to learn how to frame our goal in order to articulate it better when presenting it to people outside of the project, through the NABC model (Need, Approach, Benefits and Competition). We felt inspired by this articulation of our purpose and decided to also create a golden circle where we showed first the WHY, then the HOW and in the end the WHAT or our solution. We were also invited to follow the business canvas model and develop our own, updating it every month. Here you can find the last updated version of it.

Best Supporting Entrepreneurship Special Prize

The Best Supporting Entrepreneurship award recognizes exceptional effort to build a business case and commercialize an iGEM project. This award is open to all teams to show that entrepreneurship is something all teams can aspire to do with their project. This award can go to an new project, or to a previous project that a team aimed to commercialize. Have you filed a provisional patent on your project/device/process? Have you raised money to build and ship products? Have you pitched your idea to investors and received money? As always in iGEM, the aim is to impress the judges!

To compete for the Best Supporting Entrepreneurship prize, please describe your work on this page and also fill out the description on the judging form.

Inspiration

You can look at what other teams did to get some inspiration!
Here are a few examples:

Patents and intellectual property

If your team is seriously considering commercializing and looking into building a company after the competition, you may want to look at how you are going to protect your work and secure investment. Investors will usually require some form of intellectual protection, so you may want to investigate how to apply for a patent or provisional patent in your country and region before disclosing your project at iGEM. Remember that you can only be evaluated in iGEM based on what you share on your wiki and at the Jamboree, so any work you don't present can't count towards your project.