Do you have an innovative project or research that can potentially help drive economic growth and improve society? Are you a scholar, entrepreneur, startup, or researcher who needs initial funding to advance your project?
Well, you’ve come to the right page. This year, the Embassy of Switzerland in the Philippines opens the Swiss Innovation Prize Competition—an initiative aimed at fostering the culture of innovation in the Philippines by drawing inspiration from Switzerland and elsewhere. This hopes to provide support for the development of new ideas and showcase the innovative solutions of Swiss companies in the region.
What Can You Get from the Swiss Innovation Prize Competition?
The competition follows three categories: digitalization, sustainability, and prosperity. Winners will receive the following prizes and opportunities:
- First Prize: A financial reward of a hundred thousand pesos (P100,000), mentorship with the possibility of employment (subject to policies of participating Swiss companies), company visits of participating Swiss companies, features in the business journal of the Swiss Chamber of Commerce of the Philippines and the Embassy of Switzerland in the Philippines, and other resources to help bring their innovative ideas to the industry.
- Second Prize: A financial reward of fifty thousand pesos (P50,000), internship opportunities in participating Swiss companies, company visits of participating Swiss companies, features in the business journal of the Swiss Chamber of Commerce of the Philippines and the Embassy of Switzerland in the Philippines, and other resources to help bring their innovative ideas to the industry.
- Third Prize: A financial reward of thirty thousand pesos (P30,000), company visits by participating Swiss companies, features in the business journal of the Swiss Chamber of Commerce of the Philippines and the Embassy of Switzerland in the Philippines, and other resources to help bring their innovative ideas to the industry.
In addition to the prizes and opportunities mentioned, the final round of the competition may also feature special prizes. Moreover, all winners will receive an exclusive invitation to attend a reception hosted by the Swiss Ambassador to the Philippines.
How to Participate in the Swiss Innovation Prize Competition
Geared to support the development of new ideas that have potential benefits to people, the environment, and the economy, the Swiss Innovation Prize Competition is open to undergraduate and graduate students, early researchers, entrepreneurs, and start-ups—ages 18 to 30—who are based in the Philippines.
If you or your team (up to three members) have innovative ideas that can contribute to economic development and societal improvement, then don’t hesitate to join this competition. Since the program was conceptualized to bridge industry and academe in ensuring a steady supply of globally competitive talents for economic development, interested applicants must submit to the following evaluation criteria:
- Potential Impact: The extent to which the proposed solution can address significant societal or environmental issues and the potential for economic growth
- Novelty and Innovation: The extent to which the idea or solution is new and innovative, as opposed to incremental improvements on existing solutions
- Feasibility: Whether the idea or solution can be realistically developed and implemented within a reasonable time frame and budget
- Sustainability: Whether the idea or solution considers environmental, social, and economic sustainability
Now, if you’ve checked all those criteria, then you may send your proposals through the following innovation streams:
- Digitalization. You or your company can focus on driving digital innovation and stay ahead of the curve through digital transformation (leveraging technology to streamline processes, improve customer experiences, and create new revenue streams), the Internet of Things (connecting devices and sensors to the internet to provide real-time data that can be used to optimize operations, reduce costs, and create new products and services), or Artificial Intelligence (transforming the business landscape by providing advanced analytics, automated decision-making, and personalized experiences).
- Sustainability. You or your company highly prioritize addressing environmental and social challenges facing the planet, such as reducing carbon emissions, adopting renewable energy sources, reducing waste, and promoting circular economies and sustainable agriculture and food systems.
- Prosperity. You or your company focuses on economic well-being, including income, employment, education, health, and social well-being by engaging in entrepreneurship, education and skills development, social inclusion, and reducing inequality.
How do I apply for the Swiss Innovation Prize Competition?
Exciting, right? Well, if you’re ready to present your innovative project or idea, here’s how to go about the application process.
- Submit your proposal to the Selection Committee of the Swiss Innovation Prize Competition. While there’s no format to be followed, it is important to note that it should not exceed the 5,000-word limit and must contain the following required elements: (1) executive summary; (2) background/rationale; (3) discussion of the innovative idea/ project addressing (a) potential impact, (b) novelty and innovation, (c) feasibility, and (d) sustainability; (4) action points/ recommendations; and (5) references.
- Entries must be submitted to:
The Selection Committee – Swiss Innovation Prize Competition
Attention: Mr. Kent Marjun Primor, Head of Economic & Trade Advisory
Embassy of Switzerland in the Philippines
24/F BDO Equitable Tower, Paseo de Roxas, Makati City, Philippines
Please be aware that the selection committee responsible for screening and judging all submissions comprises CEOs from Swiss companies in the Philippines. The deadline for entries is September 29, 2023. All those who qualify will be notified on October 16, and the final round will happen on November 8–10 in Manila.
Don’t miss this rare opportunity to showcase your innovative ideas—and get a chance to visit Swiss companies and win amazing prizes. Learn from the distinguished panel of CEOs and take a step forward toward the realization of your projects that have been waiting to be realized.