The 3 phases of the Swiss Innovation Challenge
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Phase 1 - Refining the business idea and creating a short presentation
The first phase of the competition involves refining the business idea and creating a short presentation. The requirement for passing the initial selection presentation, the first pitch, is to detail the innovation idea on two A4 pages. The first pitch lasts three minutes. |
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Phase 2 - Implementing the business idea in a business plan
In the second phase, the business idea is substantiated, a business plan is created and the presentation is developed further. The requirement for passing the second selection presentation, the second pitch, is to detail a professional business plan based on the innovation concept. This business plan should be 15 to 30 pages. The second pitch lasts five minutes. |
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Phase 3 - Implementation plan and creation of a final presentation
In the third phase, the business plan is honed and the presentations finalised. The requirement for passing the third selection presentation, the final pitch, is an implementation concept. The third pitch lasts seven minutes. |
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The pitching events
After three months in phases I and II respectively, the participants stand before a jury and present the results of their developed business plan. Around 50 percent of participants proceed to the next phase at these so-called pitching events. In the third phase, which lasts two months, the innovation ideas are fully developed and underpinned by a state-of-the-art business plan, which focusses on creating top-quality sales documentation. |
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Video pitch
A key element of the sales documentation is a video pitch to present the innovation idea in the best possible light. The final pitch symbolises the closing stage of the competition, whereby the winners and their ranking are announced at a special award ceremony. |
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Award ceremony
In addition to practical experience, networking within the industry, sparring and contact with potential investors, the project also offers prizes for the participants. The winner receives 20,000 francs and the second and third places each receive 5,000 Swiss francs. The award ceremony takes place in front of more than 3,000 spectators on the occasion of the "Tag der Wirtschaft" at the Basel Chamber of Commerce. |
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