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INFORMATION ON SUBMISSION
Applicants should read through the below information to help with their submission
HOW TO APPLY & SUBMISSION DEADLINES
Please send your submission document in WORD format to info@cidaukcompetition.co.uk by the deadline of 26 Apr 2024*.
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Please ensure your submission covers all the required details as per the below section on "Requirements on Submission Contents".
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* Subject to change without prior notice
FOR ENQUIRY
Please email info@cidaukcompetition.co.uk if you have any questions about the competition or your submission.
TERMS & CONDITIONS
Click here to view the terms and conditions of the competition.
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1. Personal InformationFull name Contact details (email, phone number) University and department affiliation Current academic status (confirming PhD level or above)
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2. Research and Innovation DetailsExplanation of how the innovation addresses a specific COMMERCIAL pain point in the UK market.
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3. Patent PotentialInformation on any steps taken towards patent application Assessment of the innovation’s patentability (if applicable)
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4. Summary of the Business (300 words)Provide a concise overview of your business idea, highlighting the key aspects of your plan including your mission, the problem you are addressing, your solution, target market, and your business model.
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5. Product or Service Description (200 Words)Describe the product or service your business intends to offer. Include specific features, benefits, and how it addresses the needs of your target market.
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6. Target CustomersIdentify your target customer segments.
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7. Revenue ModelHow Will Your Business Generate Income? Outline your primary revenue streams. Include any relevant financial tables or models that detail pricing strategies, cost structures, and expected revenue.
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8. Competitive LandscapeList key competitors offering similar products/services. Discuss your competitive advantages, such as unique features, pricing, quality, or technology.
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9. Sales Forecast for the Next 5 YearsPricing Strategy: Define the price per unit for your product/service. Sales Volume: Project the quantity of sales over the next five years, with an explanation of how you plan to achieve these targets.
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10. Mentorship and Support NeedsAreas where the applicant seeks mentorship or support (e.g., business development, legal advice, technical expertise)
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11. University Endorsement (if applicable)A letter or statement of endorsement from a university supervisor or department
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12. Additional Supporting DocumentsOption to upload any additional documents that support the application (e.g., research papers, business plan document, letters of support or endorsement)
Requirements
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