If you are over 18 years old and have an innovative business idea, apply for the «Ideias em Caixa» from CRIA – Entrepreneurship and Technology Transfer Division of the University of Algarve (UAlg). This is not, but could even be, the slogan of the competition that the university is launching for the fourth time and which aims to embody good business ideas that are only “on paper”.
The CRIA initiative, carried out for ten years, aims to promote youth entrepreneurship in the Algarve, with a focus on innovation. Here, ideas are worth prizes and strong support for them to be more than that.
The application phase for the 4th “Ideias in Box” is now open and lasts until the 28th of February. Interested parties must fill in the available application form. on the CRIA website, with a brief description of the business idea and send it to [email protected].
Of the applications submitted, 30 will move on to a second phase, one of maturation and acceleration of business ideas. After this process, which lasts between the 10th and 28th of March, the final evaluation is carried out by the competition jury.
Basically, «the model remains the same in relation to the three previous editions, because it has worked very well», he revealed to the Sul Informação the director of CRIA Hugo Barros.
It can even be said that the contest of ideas of the Division of Entrepreneurship and Technology Transfer at UAlg «gained wings» due to the results it has obtained, which translate into the impulse to the creation of several innovative companies, many of which have flourished.
«The big news in this 4th edition is that the project started to benefit from the support of community funds, following an application that we presented to PO Algarve 21, which was approved. This turns out to be a reflection of the success of Ideias em Caixa», considered Hugo Barros.
In this way, the competition is now promoted only by CRIA, with Caixa Geral de Depósitos, co-promoter of the first three editions, to remain «as an institutional partner».
Ideas arise, that CRIA provides the rest
In «Ideias em Caixa», more than the chosen business area, the originality, validity and feasibility of the business idea counts. Whether in the primary sector, manufacturing industry, advanced technology and tourism services, cultural and creative industries, and health and well-being, to give a few examples, all projects are welcome.
It is true that one of the main barriers to entrepreneurship is the ability to plan a business so that it is successful and sustainable. And this is where the awards come in, which are all aimed at helping aspiring entrepreneurs to become entrepreneurs.
In addition to supporting the preparation of a Business Plan, CRIA offers the top 15 basic training in management, accounting support, business coaching and help in creating a corporate image, among other awards. Those with ideas that rank between 16th and 30th place will also be entitled to training in management.
“We could give a thousand euros to the winner and say: go start a company there. But we think it's better to give them a series of instruments and support that will allow them to walk the path in a safer way», illustrated Hugo Barros.
The entire model is based on this logic of encouraging competitors to think about their ideas and develop them themselves, with the help of CRIA and specialized technicians.
“The first phase, the application, is very accessible. Those who pass this stage are already obliged to go through a period of training and consolidate the ideas they presented», illustrated the director of CRIA.
Hugo Barros expects to have at least as many applications as in the last competition, launched in 2010 and extended to 2011. «So far, the number of candidates has increased exponentially, it has doubled with each edition. We have also noticed an evolution in ideas, which have been increasingly entrepreneurial», he said.
After a decade of experience, CRIA is already aiming higher and is focused not only on getting the good ideas hidden in the minds of potential entrepreneurs to see the light of day, but also on «the number of successful companies that succeed maintain the activity for more than three years, be increasingly bigger».
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