{"id":2000,"date":"2023-10-30T01:44:07","date_gmt":"2023-10-30T01:44:07","guid":{"rendered":"https:\/\/otagoinnovation.cre8ive.co.nz\/wordpress\/?page_id=2000"},"modified":"2026-07-28T05:16:58","modified_gmt":"2026-07-28T05:16:58","slug":"proof-of-concept-competition","status":"publish","type":"page","link":"https:\/\/otagoinnovation.com\/wordpress\/funding\/proof-of-concept-competition\/","title":{"rendered":"Proof of Concept Competition"},"content":{"rendered":"
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$100,000 Proof of Concept Competition Applications are CLOSED<\/h1>\n\n\n\n

Applications for the 20th Anniversary Proof of Concept Competition are closed. As an established feature of\u00a0the University of Otago\u2019s calendar, the Otago Innovation Proof of Concept is in its 20th year.<\/p>\n\n\n\n

It is an opportunity for academics, post-docs and PhD candidates to test their commercially prospective ideas in front of an expert panel of mainly external judges. <\/p>\n\n\n\n

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Celebrating 20 years, Proof of Concept 2026 offers three main prizes celebrating people and projects solving real-word problems with big, bold, innovative ideas:<\/p>\n\n\n\n

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  1. $100,000 R&D investment to progress an idea toward commercial application<\/li>\n\n\n\n
  2. $100,000 convertible note to accelerate formation of a spin out company<\/li>\n\n\n\n
  3. $6,000 Postgraduate internship with support undertaking planning, market research, customer discovery, competitor analysis and business case development<\/li>\n<\/ol>\n\n\n\n

    Additional prizes on offer:<\/p>\n\n\n\n

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    1. $10,000 (in kind) from Sprout via the Germinate or Accelerator Programme to support a project where the technology has an application in the agrifood value chain or is broadly relevant to the agrifood sector.<\/li>\n\n\n\n
    2. $6,000 Polson Higgs accounting package – the successful start-up concept will receive business advisory services to ensure the start-up has the right commercial foundations for success.<\/li>\n\n\n\n
    3. $7,000 (value) Catalyst Intellectual Property – IP advice and strategy development support to help a project progress towards commercialisation.<\/li>\n\n\n\n
    4. Ministry of Awesome – a Christchurch based applicant will receive access to a hot desk within Ministry of Awesome’s vibrant innovation hub, providing space to work, connect and build momentum towards commercialisation.<\/li>\n<\/ol>\n\n\n\n

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      The judges will see a lot more than one idea worth investing in, and so it will not just be the winner who may benefit from submitting an application. In past years, several entries have been taken forward with Otago Innovation.<\/p>\n\n\n\n

      The University of Otago is strongly embracing the idea of commercialisation as a valuable way to increase research impact.<\/p>\n\n\n\n

      A few years ago, we instigated the idea of inviting potential investors\/partners to the presentations and judging. People often tell us they wish to take a look at projects early. We reasoned that they (investors) may as well take a look at new ideas out of Otago at the same time as we first do, and so each year since, many people come and go throughout the two days of judging.<\/p>\n\n\n\n

      Since 2006, the submissions have included ideas ranging from human therapeutics, biomarkers, software development to improved technology in household devices.<\/p>\n\n\n\n

      If you have a great idea, then feel free to contact any of our Commercialisation Managers<\/a><\/strong>. They will be happy to take a look or you can register your interest at any time of the year.<\/p>\n\n\n\nChat with our Team<\/a>\n\n\n\nRegister Your Interest<\/a>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

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      Meet the Judges<\/h2>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n
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      Meet the expert panel of judges<\/a><\/strong> who makes the decision on who wins the $100,000.<\/p>\n\n\n\nView Judges<\/a>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

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      Past Winners<\/h2>\n\n\n\n

      See who the past winners are and their accomplishments.<\/p>\n<\/div>\n<\/div>\n\n\n\n

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      \n\t\t\n\t\t\n\t \t\t\n\t\t\t\t\t\t\n\t\t\t
      \n\t\t\t\t\n\t\t\t\t\t<\/i>2024 Winner\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\n\t \t\t\n\t\t\t\t\t\t\n\t\t\t
      \n\t\t\t\t\n\t\t\t\t\t<\/i>2023 Winners\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\n\t \t\t\n\t\t\t\t\t\t\n\t\t\t
      \n\t\t\t\t\n\t\t\t\t\t<\/i>2022 Winners\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\n\t \t\t\n\t\t\t\t\t\t\n\t\t\t
      \n\t\t\t\t\n\t\t\t\t\t<\/i>2021 Winners\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\n\t \t\t\n\t\t\t\t\t\t\n\t\t\t
      \n\t\t\t\t\n\t\t\t\t\t<\/i>2020 Winners\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\n\t \t\t\n\t\t\t\t\t\t\n\t\t\t
      \n\t\t\t\t\n\t\t\t\t\t<\/i>2019 Winners\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\n\t \t\t\n\t\t\t\t\t\t\n\t\t\t
      \n\t\t\t\t\n\t\t\t\t\t<\/i>2018 Winners\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\n\t \t\n\t\t\t\n\t