As announced during the Award Ceremony in Imagine Cup 2011 worldwide final at New York, Microsoft will given USD 3M grants for finalist to apply in order to kick start their idea. The detail of the grants is finally announced. the grant only have limited place for finalist, thus 2 round of selection will determine which team won the grant.
The grant will judge base on:
- Problem Definition (10%): How well does the team convey their understanding of the complexities involved in addressing the problem and, how convincing is the argument that the issue they are addressing has broad appeal and relevance
- Impact and Viability of the Solution (40%): To what degree will the solution have an impact on the issue? Is the solution technically and economically viable? Are the timing and conditions right for this solution? Has the solution already been implemented in some way to demonstrate or test that it is viable?
- Solution Design and Innovation (20%): Does the solution provide an innovative approach the problem? How does it surpass previous or current solutions to this problem?
- Team Quality and Motivation (30%): What is the quality of leadership in the team? How solid is the business planning for the solution? What are the obstacles for the team to take the solution to market? How does the team intend to organize itself to accomplish its plan?
It is a great opportunity for finalist to apply and kick start their business using the grant offer by Microsoft. The grant offer the following awards to those who successfully applied the grants:
- A Cash grant amount depending on the grantee team’s business plan and project scope. (Estimated between $75,000 U.S. Dollars and $100,000 U.S. Dollars)
- Software required to support the implementation of their solution. Software offerings will be determined based on the needs of the grantee’s solution and go to market plan.
- Mentorship by a Microsoft representative in their country or region.
- Introductions to potential funders and partners.
- Support from Microsoft local partners.
- Access to Microsoft resources including Microsoft Innovation Centers, premium BizSpark benefits, time and support from Microsoft employees and product groups.
For more information on Imagine Cup Grants visit: http://www.imaginecup.com/CompetitionsContent/ImagineCupGrants.aspx
Every year Microsoft surprise me with how much money and effort their put on students through Imagine Cup. I can’t think of any student competition that can beat Imagine Cup, they give free trip, prize money, news coverage, grant, hardware and many more students to make sure they create something innovative. I’m looking forward the listen to the success story of the students through the grant offer by Microsoft.