- 27 June 2023
- Posted by: Canberra Innovation Network
- Categories: Feature, General News
From bioplastics made from coffee grounds to programs to help with elderly isolation, InnovationACT’s student entrepreneurial competition has been supporting students to evolve their ideas for 15 years!
InnovationACT is not your average competition. It’s a dynamic platform where researchers and tertiary students have an opportunity to dip their toes into the world of entrepreneurship and innovation by crafting and presenting high-impact, scalable business concepts that solve real-world problems.
With a prize pool of $10,000 and in-kind support from the thriving ecosystem, the participating teams are fueled with resources to take their projects to the next level.
Alumni from the program such as SignonSite, OzGuild & Wildlife Drones have gone on to create successful ventures and become champions of innovation. These companies developed through the IACT program and are now changing the way we do things in an easier, safer and more meaningful way.
“I wish my actual lectures were as engaging as this. I feel that the facilitators and mentors are really wanting me to succeed and I’m looking forward to future workshops”. – Previous Participant: Isabella
“Wonderful incubator with great information, tools and mentors if you have an idea for social good you want to make a reality”. – Previous Participant: Jessica
Over two weeks, the teams will dive headfirst, honing their skills and acquiring the knowledge needed to turn their ideas into successful businesses, from ideation to execution.
- Ideation and validation
Learn how to generate multiple ideas so that you can pick the one worth pursuing. Evolve the idea with the team, mentors and potential customers.
- Building business models and market testing
Business models define the way you can make money on delivering your solution to your customers. Learn how to find the one that will fit your business.
Showing is better than telling. Learn how to build minimal viable products by observing how users interact with the prototype of your solution.
- Validating market opportunity
Without customers, there is no business. Learn how to talk to customers before you build anything, to understand the market potential of your solution.
- Craft a winning pitch
Even with customers with a problem, validated pricing and business model, your business can fail, if you do not learn how to tell its story to the key stakeholders.
- Access mentoring and post-competition support
Throughout the program, you will have access to innovation and business mentors. After the program, winners will be offered support from CBRIN.
The next round of InnovationACT is now open for registrations, so if you’re a student, make sure you get a team together!