The Innovation and Business festival is a three-month length event which has been started with K.N.Toosi University of Technology and the collaborative support of the Mapna group and Vice-presidency for science and technology that emphasizes on two concepts including innovation and innovative businesses. Combination of these two concepts is an indicative of entrepreneurship approach of this festival. The ideas which are being suggested in INNOCUP are capable of wealth production and the rise of value-added. This festival provides the opportunity for presenting technical and investigational achievements of students, professors, alumnus, entrepreneurs and those who have a creative idea for a business. In addition, this festival is a great opportunity for addressing industry needs which ultimately by means of investments of the industry in knowledge-based organizations, the collaboration between universities and industry will be promoted.
The festival which begins at 11th December and is being held until 11th March includes the following programs:
Innovation and business competition: The key parts of the festival are the INNOCUP and the competition that include two main categories: "Innovative Ideas" and "Business models". In this section, the registered ideas and business plans will be examined considering technical and managemental aspects as well as the market. Ultimately, three teams will be selected as the best ones in each category and they will be awarded afterwards. Since this part is tied up with contest and competition, the judging steps are defined as follows:
- First step: The technical investigation of the received documents. In this round, the entrants will be reviewed by the judges and they will be used for preliminary screening of the participants.
- Second step: Judging criteria in this step are managemental and economical aspects. Each team will present their Idea or B-Plan to the judges in person using a powerpoint slideshow.
- Final step: This round is a public event which the accepted teams from previous steps are going to present their ideas to the judges and the audience in 5 minutes. In this section, the capability of raising funds and marketing aspects will be evaluated.
Educating and Empowering
The participant will take part in 6 technical workshops that are necessary for the formation of startups and innovative businesses.
Investing and networking
The final outcomes of the festival are noble plans which will receive support from incubator of the university and other organizations as well as the possibility of investments by ventures and other investors. In this way, commercialization of the business plan and product development will become possible.
1. InnoCafe: the gathering of entrepreneurs, managers of startups and knowledge-based companies with the purpose of networking and exchanging experiences.
2. InnoNama & InnoTalk: This event is held simultaneously with the InnoCafe and the final event wherein the sponsors, volunteer startups and the owners of innovative business plans will take part. Each group of participants will have a counter where they can advertise their products, negotiate and communicate with others and also raise funds.