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      /  Activities / BIT Siberia / Competition structure 

Competition structure

STRUCTURE OF THE “BIT SIBERIA” COMPETITION

The competition is participated by the teams made up of innovative idea developers, marketing specialists, business-plan drafters and other specialists. Each team works with its innovative idea and gradually develops it into a business-plan which can be used in work and in search for investments. The competitors attend free lectures and seminars to learn how to materialize their innovative development. High-grade specialists share with them their experience in marketing innovative projects at markets, tell about the difficulties one meets in this work, and about histories of success. 

  

The teams have to submit a short description of their projects for the semifinal (written in accordance with an established pattern). This description is used for evaluation by the judges (only in the semifinal). The semifinal is off-site, i.e. every judge studies an electronic version of a project description, gives estimation to it and renders a verdict: if he believes the project should qualify for the final or not. All judges work independently. Fifteen of the projects which have gained most votes qualify for the final. Representatives of these fifteen projects continue their participation in the competition. They attend the second part of the educational program where the teams can refine their idea into an actual business plan and get expert recommendations concerning some questions. A very significant part of preparation to the final is a development of a project presentation to be presented to potential investors. The first prize goes to the team which presents its project best during the on-site final (as decided by the judges). Aside from the first prize, the teams can be awarded special prizes from sponsors and organizers (portable computers, business literature, software and other presents). The winner team qualifies for the final of the Russia-wide “BIT” competition.

 

“BIT Siberia” is not a competition for the sake of competition, but a real opportunity to find investment for an idea. All of the activities within the framework of the competition are free of charge.

 

The competition lasts for 6 months (November 2008 to April 2009) and includes 7 stages:

1. Registration of participants.

2. Stage I of the educational program.

3. Project preparation for the semifinal.

4. Semifinal.

5. Stage II of the educational program.

6. Project preparation for the final.

7. Final.

 

Registration of participants

Participating in the competition requires registration. All participants are divided in two groups: developers (ideas persons, team leaders) and independent participants (non-developers). 

  

            Developers are authors/owners of innovative business-ideas or technologies who want to take them as a basis for their business. Owners of ideas usually take the position of team leaders. When registering, the developer may already have a team (in this case other members of the team should specify their leader’s name in the team affiliation box of the registration form), or not have one (in this case a team will be formed for the developer out of unaffiliated independent participants). A business-idea or technology rights should belong to one of more members of a team (most often – to the leader). Upon registration, a developer (author of an idea) should submit a short summary of his/her innovative idea (1-2 sentences), thus registering the idea as well. 

  

Independent participants. They participate in the competition in order to gain experience of work in an innovative project. Independent participants join teams which need additional members. Their affiliation is assigned by the competition organizer. It may happen so that not all of independent participants find affiliation, but we do our best to ensure participation for all who register. 

  

Aside from innovative projects, independent participants may engage in social projects which follow the same competition structure as commercial ones, but compete in a different category – social category.

           

 

Stage I of the educational program

            Stage I of the educational program is a course of lectures on various aspects of doing business. Lectures and seminars are delivered by active businessmen, managers and owners of successful companies. The educational program gives an informational basis for establishing and promoting a new company into the market with due account for peculiarities of innovative business promotion. The program includes a detailed explanation of first steps and an emphasis on various models of projects financing. 

  

Participation in the first stage of the educational program is free, but requires a preregistration. You can see a detailed timetable and themes of lectures in the “Timetable” section.

 

 

Project preparation for the semifinal

            Following the first stage of the educational program, participants refine their entries to a maximum possible commercially attractive state. Competitors are allowed to prepare their entry on their own and not take classes. The project description can be done any time prior to the semifinal.

 

 

Semifinal

            After the teams have submitted summaries of their projects (without any technical details), the judges choose the projects (and their teams) which would qualify for the final. The semifinal is held off-site, i.e. every judge is given descriptions of the projects assigned to him, gives estimation for each of them and renders a verdict on whether a given project should qualify for the final. Each project is given for estimation to 5-7 judges. 15 teams which receive most positive estimations qualify for the final.

 

 

Stage I of the educational program

Stage II of the educational program is meant for representatives of finalist-teams. The stage deals with acquisition of skills in drawing up business-plans, developing company strategy, drafting presentations and making preliminary project presentations. During the second stage a few members of each team take classes in business-planning with the Project Expert software.

 

 

Project preparation for the final

            The teams prepare business-plans for their projects, short summaries and presentations to be displayed to the judges. The organizers of the “BIT Siberia” competition help the competitors by providing them with expert consultations where the finalists can ask questions on details of business-plans. In addition the finalists are given important recommendations and comments on their presentations.

 

 

Final

            The final is held on-site: all teams present their projects to the judges. One presentation is expected to be no longer than 5-7 minutes. A presentation usually demonstrates specific peculiarities of the project and describes what investment is needed for implementation of the project. Judiciary is made up of representatives of major companies, funds, committees and ministries of municipal and regional administrations, innovation companies. The jury also includes business-angels and venture investors. 

   

The decision is made in a collegial manner. The winner qualifies for the final of the Russia-wide “BIT 2009” competition in Moscow. If a team becomes a runner-up there, it goes to the “IBTEC 2009” competition in Berkley University (California, USA). “Simple Trade Solution”, the winner team of “BIT Siberia 2008” and the authors of the “3D Bazar” project, participated in “IBTEC” last autumn, and on November 18, 2008, presented the project at the “Silicon Valley Open Door” (SVOD) business-plans conference where it ranked fourth. The team-leader received an invitation to receive training within the MBA program in the University of Berkley and he plans to do so in the nearest future.



   
Activities
   BIT Siberia
      Competition structure
      Timetable
      Innovators Lyceum
      Iron entrepreneur
      Finalists
      Sponsors & partners
      Jury
      F.A.Q.
      BIT Siberia 2008
         Timetable
         Jury
      BIT Siberia 2009
         Timetable
         Jury
      BIT Siberia 2010
         Jury
      BIT Siberia 2011
         Jury
      Ideas
         BIT Siberia 2008
         BIT Siberia 2009
         BIT Siberia 2011
   Marchmont Conference
   Strategy Partners
   Tech Tour





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