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aprile 20, 2021 - Monaco Protection Challenge

Monaco Ocean Protection Challenge 2021 - Rules and Guidelines

Comunicato Stampa disponibile solo in lingua originale. 

The #monaco Ocean Protection Challenge is a business concept pitching competition initiated by the Oceanographic Institute, the Prince Albert II of #monaco Foundation, #monaco Impact, and the International University of #monaco

Its mission is: 

  • To highlight, support, and grow young entrepreneurs and startups that can demonstrate a measurable positive impact on the Oceans.
  • To provide the opportunity to create and develop a #startup company, even if you’re completely new to business.
  • To raise awareness about Ocean Pollution and search for new methods of tackling the situation.

It is open to all undergraduate and graduate students, or recent alumni graduated within the last 5 years from any schools (Business schools, Engineering Schools, Design or Artistic schools …) and open to startups created after June 2020.

Thus the #monaco Ocean Protection Challenge encompasses two categories of competitors

  • A Category "Students"
  • A Category "Start uppers"

The 6 Finalist teams will be brought out to #monaco with travel and accommodation paid, to the finals in the Oceanographic Museum of #monaco, on 16th of June.  

Students and start uppers have to register on the MOPC Website before 30th of April 2021 and submit a Business Plan and make a 1-minute video presenting your business plan and idea by 7th of May 2021.

www.monaco-opc.com 

In May 2021, a first jury, composed by representatives of the 4 organizing institutions and entrepreneurs will select the 3 finalists teams In the category "students" and the 3 finalist teams in the category "start uppers". 

The final jury on the 16th of June, composed by renowned entrepreneurs, investors and experts in Circular Economy, will decide and give the prizes and awards: 

  • The First Prize for the category "Students" is a yearly induction and networking program:

entrepreneurs' club membership, Amis du Musée Oceanographique membership, passes for leading International events (Monaco Ocean Week, Change Now Summit Paris, Dayone Event…)     

  • The First Prize for the category "Start Uppers" is a cheque of 15.000 €, financing a concrete part of company development (IT, database, materials …)  

Monaco Ocean Protection Challenge 2021 - Rules and Guidelines 

Eligibility Criteria

      x      Open to Undergraduates, Post-Bachelor Students, and Students who graduated within the last 5 years.

x Open to all participants that are creating a company or have created one after June 2020, and meet the aforementioned requirements. 

Ground Rules:  

x There is no maximum or minimum number of participants that a group can have. If a group makes the final, we will be able to welcome at least 1 member of the team, to a maximum of 2 team members, depending on the current sanitary guidelines.  x More than 1 team from each school can participate. x Participants can only be members of a single team. x Teams can only make 1 submission. 

      x      Teams must register on the website by Friday, April 30th, 11:59PM (UTC+1) 

For any questions or inquiries, please use this email address: info@monaco-opc.com  

Project Guidelines

      x      Projects must demonstrate a measurable and significant impact on the Ocean

x The business concept may be a new business model/process, or an innovative product or service that can be purchased and implemented by an existing company (corporate innovation).

x The business concept may be a new business model that can be implemented by a new company (a startup), and therefore will require a business plan.

x The business concept may be a communication strategy or plan that can be implemented by a company or organization.  

The MOPC Process  

Step 1 (Optional)  - By April 30th, 2021, you can submit a first Business Plan 

This document will be reviewed by the organizers, with feedback for main improvement areas , thus to make the final document submitted on 7th of May aligned with MOPC requirements. 

Building a Business Plan

  1. Cover Page- Page introducing the team and the project
  2. Index- an Index of contents within the plan
  3. Executive Summary- A short (usually no more than a page) summary of what is detailed within your business plan. Summarize the problem you’re solving for your clients, the target market, the founding team, and financial forecast highlights. Keep it as concise as possible.
  4. Opportunity- The problem that your product, service, or process is looking to solve, and your solution.
  5. Market Analysis Summary- Potential Clients/ Users, competition, and any other variables that affect your target market. Define your target market, and define their needs, where they are, how to reach them, and how to deliver your product to them.
  6. Execution- Development Plan, Timelines, Required Resources, and any other variables in the “doing” part : outline the marketing plan and sales plan, as well as other logistical information pertaining to the running of the business. This should also cover the technology to use, business location and any facilities pertaining to it, special equipment you may need, and a roadmap for getting the business off the ground.
  7. Financial Plan- #startup expenses and Capitalization: a description of what it will cost to launch the business and where you plan to acquire funding, plus a 12-month profit and loss projection along with a 3-year profit and loss projection, a 12 month cash-flow projection and a 3 year cash-flow projection, a projected balance sheet at start-up and as well as at the end of years 1-3, and a break-even calculation. 

Step 2: Your submission   

Finalizing Your Video, Business Plan, and Development Milestones By May 7th, participants must have submitted:  

  • Business Plan- The finalized business plan for each team
  • Video- a 1-minute video presenting your business concept and plan
  • Development Milestones- a timeline of milestones in your project’s development 

Step 3: Grande Finale   

On Wednesday June 16th, 2021, at the Musée Océanographique de Monaco