SPARC Innovation Accelerator Award

 

About the Award Program

PJRB SPARC is happy to announce the 1st SPARC Annual Innovation Award & Fund to be given to winning entries on Sep 26, 2022, at PJRB SPARC Campus.

One can enter the Innovation Challenge as individuals or as a team of up to maximum 4 members. The theme / topic for the Innovation Award & Fund is Water Conservation / Safe Drinking Water.

The Process that will be followed for the SPARC Annual Innovation Award & Fund is as follows:

1. Entries to be submitted online at PJRB SPARC by midnight, August 10, 2022. The registration for the entries will open on June 1, 2022.
2. The entries will be scrutinized by the PJRB SPARC team and short-list of eligible entries will be declared by August 16, 2022. The short-listed participants / teams will be intimated by email, as well
3. The short-listed participants will be required to attend the SPARC Innovation Award Boot Camp at PJRB SPARC campus for 2 days in the fourth week of August. The participant will travel to the PJRB SPARC campus for the Boot Camp on their own expense. The boarding and lodging for the Boot Camp at the PJRB SPARC campus, however, will be free.
4. The SPARC Innovation Boot Camp will be a self-learning and networking event for the short-listed participants to enable them to improve their ideas and presentations. The participation at the Boot Camp is mandatory for the participants to compete in the Innovation Award & Fund.
5. After the Boot Camp, the participants will need to submit their final ideas / working models / prototypes by September 10, 2022
6. The participants will make a presentation to the jury about the innovation in the third week of Sep 2022 at the PJRB SPARC Campus.
7. The Awards will be announced and given at a ceremony at the PJRB SPARC Campus on Sep 26, 2022
8. The awards will be in the following categories:
a. Innovative idea / concept
b. Working Model / Prototype based on the Innovative idea / concept
c. Market tested / launched product based on the Innovative idea
9. Prizes will be given for each category 1st Prize – Rs. 2000, 2nd Prize – Rs. 1500, 3rd Prize – Rs. 1000
10. Opportunity for Seed funding support of up to Rs.50,000 to 3rd category winners on mutually agreed terms.
11. Mentoring support to the winners of all categories.

Rules and Regulation for SPARC Accelerator Awards

1. Applicant should be based in Punjab
2. Applicant should not have any complaint registered against him/her especially for the following:

a. Criminal activity
b. Political activism
c. Causing harm to children, women or non-binary genders

3. Innovation should be an original idea or an adaptation of an existing idea in a form that does not exist currently
4. An applicant can apply with a maximum of 2 innovative ideas.
5. Applicant must clearly specify the stage at which his innovation is:

a. Idea stage – Only description and drawing of innovative idea is there. No model has been made
b. Model/Prototype stage – Working model or product/service prototype exists
c. Fully developed stage- Innovation is in usable form and is being tested with actual users

6. The application will go through the following process:

a. Stage 1 shortlisting – based on application form details
b. 2 day residential Innovative and Entrepreneurial thinking bootcamp at PJRB-SPARC for shortlisted candidates
c. Submission of detailed application by shortlisted candidates in required format.
d. Interview with jury panel
e. Declaration of winners based on final submission and interview with jury.

7. Decision of jury will be final and no questions will be entertained.
8. Model/Prototype stage and Field Testing stage
9. Winners from model/porotype and Field-testing stage may also be given the opportunity to present their innovation to seed fund providers, if such opportunities exist.
10. For any queries, please contact: +91-8130070290 / sanjiv@pjrbsparc.org

Important dates:

1. June 1 – Start date for filing of applications
2. August 10 – Last date for filing of applications
3. First shortlist – August 16
4. Bootcamp – Aug 22 and 23
5. Sep 10 – Last date for filing of final submissions
6. Interview with jury – Sep 20
7. SPARC Awards – September 26
8. October 1 onwards – Mentorship and Seed Capital opportunity exposure to selected candidates