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.
Unfortunately, the applications for the Philips Innovation Award 2019 are now closed. The applications for the Philips Innovation Award 2020 will open at December 2019.
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 2019.
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 you business plan. The deadline for handing in your business plan is the 14th of January 2020! 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.
Participation is free of charge.
Participation is open for teams with an innovative idea for a business (Rough Diamond League), and for teams who already have set up a business within the last 3 years (Innovator League).
Teams consist of a minimum of one and a maximum of 7 members
Teams must at all time meet the “Requirements for teams” from the moment of participation until and including the final.
The submitted idea, executive summaries, and business plan must meet the requirements for the idea, executive summaries and business plan.
Teams can sign up for participation during the Idea Stage and Developing Stage. Participation in the Idea Stage is recommended but not obligated.
Teams, competing in the Innovator League, that reached the (semi-)final of the Innovator League in a previous edition of the Philips Innovation Award are not allowed to participate. However, teams that have participated in the Rough Diamond League in a previous edition, are allowed to compete in the Innovator League.
Members of the teams 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 founder of the business either: Currently studies at a Dutch University, University of Applied Sciences/HBO or MBO. Or has completed a study at a Dutch university, HBO, or MBO educational institution within the last 3 years.
At least half of the team members (rounded off upwards) must be a student or recent graduate (within last 3 years).
A team member is considered a student, if he or she meets one of these descriptions: a. He or she is enrolled or admitted at a university, HBO or MBO educational institution based in the Netherlands, or has ended his or her enrolment within the last 3 years. b. He or she is currently a PhD-student at a university.
Maximum age for team members is 28 on 1 October 2018.
The Rough Diamond League is for teams with an innovative idea for a business who have set up their business (registered at the Kamer van Koophandel) after 1 October 2018. Note: it is not required to be registered at the Kamer van Koophandel to enter the Award.
Teams that reached the Refining Stage as one of the Innovators,, are not allowed to compete in the Rough Diamond League, and will not be classified as Rough Diamond.
As a Rough Diamond it is mandatory to attend the coaching day(s). You will otherwise be excluded from participation.
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.