About

Eligibility & Entry Requirements

The Innovation Challenge is open to all unconditionally accredited and pre-accredited members of the YBI network and there is no limit to the number of applications each member can send.

Members can send individual applications or work together to create joint applications with other eligible members of the network, as long as one of the organisations leads the application and takes full responsibility for the management of the project if their application is successful.

Two or three winners will be selected to implement the project during a period of 6 months.

Participating organisations must be able to implement the project (focused on the development of the MVP – Minimum Viable Product of the new product or service) between November 2019 and May 2020, and be able to report their results in January, April 2020 and June 2020.

Organisations which are not part of the YBI Network as of 30th June 2019 are not eligible to enter the Challenge as either a lead or supporting organisation.

A change in the applicant’s accreditation status during any phase of the Challenge period risks cancellation or disqualification. YBI will also evaluate the feasibility of awarding a prize to the third or fourth place finalist in the case of a project cancellation.

Prizes

Cash Prize

In this edition of the Innovation Challenge, an Innovation Fund of US$ 80,000 will be available for the winning ideas. Each applicant will need to submit a detailed budget as part of their application, limited to US$40,000 per application.

Support Prize

Winners will take part in an acceleration programme, led by Bob Dorf, one of the most knowledgeable Lean Innovation and Customer Development experts in the world.

The Process

Step 1
Expression of interest (17 June 2019 - 14 July 2019)

All eligible members interested in participating in this year’s Innovation Challenge are invited to submit an Expression of interest. You will be required to present the idea you would like to work on, the potential partners and other members involved, and preliminary data/evidence that indicates the problem exists.

Step 2
Application period (31 July 2019 - 30 September 2019)

Projects selected in the previous phase will be invited to submit a full proposal. As part of your application, you need to provide evidence of the problem validation, the proof of concept and present an MVP draft. You will also be asked to submit a video pitch (through a Youtube link) explaining the problem which the proposed project would address, how the applicant has validated the problem and finally the product/service idea.

Step 3
Selection process (23 September 2019 - 3 November 2019)

The selection process consists of three phases:

  • Interview with applicants – all applicants will be interviewed online for up to an hour to explore in more detail each one of the section criteria;
  • Selection panel – a section panel formed by representatives from YBI, Accenture and experts in innovation will meet to discuss the applications in more detail.
  • Member voting – all network members, regardless of whether they have applied for the Innovation Challenge, will be asked to vote for the projects they think will have the most impact and have the most potential to scale across the network.
Step 4
Implementation (18 November 2019 - 15 May 2020)

Winners will sign a grant agreement with YBI and are expected to both develop and test a minimum viable product and produce an alpha version of the product or service. The grant will be allocated in three instalments starting in November upon being named winners, and moving through checkpoints near the end of January and March.

Vote for

In order to vote for this project, please enter your full name, your organisation and the email address you are registered as a primary contact on the YBI community.