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<h1>Entrepreneurship</h1>
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<h3>Best Supporting Entrepreneurship Special Prize</h3>
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<div class="main-page "  >
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In previous years, iGEM had an entrepreneurship track. Teams were encouraged to build projects and focus around commercializing their work. We have now moved to an award as the best work in this area may come from teams who are not solely focused on entrepreneurship.
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<p>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!
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To compete for the <a href="https://2017.igem.org/Judging/Awards">Best Supporting Entrepreneurship prize</a>, please describe your work on this page and also fill out the description on the <a href="https://2017.igem.org/Judging/Judging_Form">judging form</a>.
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You must also delete the message box on the top of this page to be eligible for this prize.
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<h5>Inspiration</h5>
 
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<p>You can look at what other teams did to get some inspiration! <br />
 
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Here are a few examples:</p>
 
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<ul>
 
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<li><a href="https://2016.igem.org/Team:Sydney_Australia">2016 Sydney Australia</a></li>
 
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<li><a href="https://2016.igem.org/Team:Pasteur_Paris">2016 Pasteur Paris</a></li>
 
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<li><a href="https://2014.igem.org/Team:UCC_Ireland">2014 UCC Ireland</a></li>
 
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<li><a href="https://2014.igem.org/Team:Imperial">2014 Imperial College London</a></li>
 
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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. </p>
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<p>This is an area where we are different as we care about sharing, openness and contributing to the community and investors don't always agree with these values. It is up to you and your team to decide what to do. Remember that most universities have a commercialization department and that you can talk to them before coming to a decision.
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<p><span style="color:rgb(0, 0, 0)">The team established a sub group of three Cadets who established a team to develop a business plan based on the current research. One of the Cadets took an Entrepreneurial Management course where he wrote an executive summary, a business model, and marketing strategy to design a competitive advantage given analyzed financial factors. To assist with the development of their plan, the team met and presented their idea to a panel of consultants from Bain and Company in New York City, NY where they were critiqued on their style and knowledge. After working with the consultants to improve their business model, the team presented at the </span><span style="font-weight:bold"><span style="text-decoration-line: underline;"><a dataquery="dGV4dExpbmtfajk5NzEwamg=" data-cke-saved-href="http://www.marist.edu/mhrbpc/2017winners.html" href="http://www.marist.edu/mhrbpc/2017winners.html"><span style="color:#000000;">2017 Mid-Hudson Regional Business Plan Competition</span></a></span></span><span style="color:rgb(0, 0, 0)"> where they took First place in the Advanced Technology section. They proceeded to the New York State Business Plan Competition where they did not place.</span></p>
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Revision as of 03:37, 1 November 2017

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USMA-West_Point

<!DOCTYPE html> Entrepreneurship - USMA-West Point



ENTREPRENEURSHIP



The team established a sub group of three Cadets who established a team to develop a business plan based on the current research. One of the Cadets took an Entrepreneurial Management course where he wrote an executive summary, a business model, and marketing strategy to design a competitive advantage given analyzed financial factors. To assist with the development of their plan, the team met and presented their idea to a panel of consultants from Bain and Company in New York City, NY where they were critiqued on their style and knowledge. After working with the consultants to improve their business model, the team presented at the 2017 Mid-Hudson Regional Business Plan Competition where they took First place in the Advanced Technology section. They proceeded to the New York State Business Plan Competition where they did not place.