1 - Participation is free of charge.
2 - Participation is open to teams with an innovative idea for a business, and to teams who already have set up a business within the last 3 years.
3 - Teams consist of a minimum of one and a maximum of 7 members.
4 - Teams must at all time meet the “Requirements for teams” from the moment of participation until and including the final.
5 - The submitted idea and business plan must meet the “Requirements for the idea and business plan”.
6 - Teams can sign up for participation during the Idea Stage (28 September – 23 November).
7 - Teams that have reached the (semi-)final in a previous edition of the Philips Innovation Award are not allowed to participate.
Requirements for teams
1 - 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).
2 - At least half of the team members (round off upwards) must be student. A team member is considered as a student if he or she meets one of these requirements:
a. He or she is enrolled in or admitted to a university, HBO or MBO educational institution (or a comparable institution in another country), or has ended his or her enrollment with above mentioned institutions within the last 3 years.
b. He or she is currently a PhD-student at a university.
3 - Maximum age for team members is 28 throughout the whole cycle of the award
Requirements for the idea and business plan
1 - The idea of the team is original, which means that the idea does not form the basis of another business at the moment of participation unless it meets the description of rule 1 under requirements for teams.
2 - The idea or business plan may not include or use rights that do not belong to the participant.
3 - Plagiarism in the submitted idea and/or business plan leads to immediate exclusion of the Philips Innovation Award.
Philips Innovation Award seminarRegistration website for Philips Innovation Award seminar
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