The Phillips Innovation award is the largest student-entrepreneur award in The Netherlands. This award is organized for students, by students. We do not believe in “the winner takes it all”-principle. The Philips Innovation Award has become a platform where each participant can profit from. By participating you will get personal feedback, practice important skills, receive coaching and build a network. The Philips innovation awards consists of four stages.
During this stage the ideas will be collected. In this stage the best 10 ideas can receive €100!
During the Developing stage the ideas will be translated to more concrete business plans.
30 Ideas, consisting of 15 Innovators and 15 Rough Diamonds, will be chosen to compete at our semi-final.
The best 8 ideas will be prepared for their final challenge. These 8 ideas consist of 5 innovators and 3 rough diamonds. At the Final, Innovators can win the Phillips Innovation Award worth €50.000 and the Rough Diamonds the Rough Diamond Award worth €10.000.
The Innovator Award is our big league prize worth €50.000 and gives every start-up a kick-start towards success. It consists of cash, assistance in registering patents, creative services, consulting advice and more! This prize will boost your start-up to the next level. However, the Philips Innovation Award is more than just an Award. Every participant will benefit from our platform. We make sure you will get feedback and receive coaching from members of our network. Besides this, you will build a network with several interesting start-ups.
The Rough Diamond League is a separate league for teams who just started working out their idea. The objective of the Philips Innovation Award is making it able for students to develop their idea. The Philips Innovation Award stimulates entrepreneurship and innovation among students. This is the reason why we implemented this league in 2017. We give developers of an idea an opportunity to win a price worth €10.000. This price will boost your business to the next level. So do not be afraid that you can not compete against other start-ups who are already in an advanced stage! This league is only there for teams who are founded after 1 October 2020.
Many people have clever, innovative ideas. You are probably one of them. But only a few have the guts to transform their idea into a successful start-up. It is precisely this group of people who make the difference in our world. Why should not you join these people?
In the idea stage, you have to submit your idea in a one pager. We highly recommend our participants to write an executive summary. This helps you to concretize your idea and think more in dept about your idea. Of course, we help you in this process to make sure that your executive summary is as good as possible.
Our partner ‘De Kleine Consultant’ will give feedback on the 1 page executive summaries and the 10 best executive summaries will win a price of €100,-!
In the developing stage, you will start writing your business plan. The deadline for handing in your business plan is the 13th of January 2021! We have clear guidelines that help you in this process. By handing in your business plan, you will be one step closer to participating in the semi-final! Our top partners from our Business Panel will evaluate your business plans and provide you with personal feedback, whether you make you make it to the semi-final or not.
The start-up is classified as Innovator if it is registered at the Kamer van Koophandel (the Dutch Chamber of Commerce) before the 1st of October 2020
The start-up is classified as Rough Diamond if is is not registered at the Kamer van Koophandel or has been registered at the Kamer van Koophandel after the 1st of October 2020
Participation in the Philips Innovation Award is free of charge
Teams can sign up for participation during the Idea Stage (deadline: 2 December 2020 at 23.59) or the Developing Stage (deadline:13 January 2021 at 23.59). Participation in the Idea Stage is recommended but not obligatory
A team that has reached the Semi-Final in the Innovator League in a previous edition of the Philips Innovation Award is not allowed to enter the competition
A team that has participated in the Rough Diamond League in a previous edition of the Philips Innovation Award, but has not reached the final, is allowed to participate in the Innovator League
At least one of the team members must be the owner of the idea or, if a business based on this idea has already been founded, must be directly in charge of the business (as founder/owner, board member, director or any comparable role)
The team must consist of a minimum of 1 and a maximum of 10 members
The team members must all be younger than 30 on the 1st of October 2020
At least half of the team members (rounded upwards) must; be enrolled at a Dutch University, HBO or MBO, or; be a PhD student at a Dutch University, or; have graduated from one of such institutions within the last three years at any point during the competition
Teams with team members that are not registered in the application to the Philips Innovation Award will be disqualified
You’ve got questions? We’ve got answers!
Welcome to our Frequently Asked Questions section where you will find answers to the most commonly asked questions in relation to the Philips Innovation Award.