01.10.2020 13:41

Showing Life Opportunities – Award Ceremony on October 1st

Today, the winners of the “Develando Ideas” contest are awarded their prizes in a cerenomy. The Ministry of Education of Ecuador will broadcast the cerenomy through Facebook Live - at 17:30 Germany (10:30 Ecuador/ 18:30 UK/11:30 Washington).

INCHER's Showing Life Opportunities project created the “Develando Ideas” contest to support students who have innovative ideas. It provides financial prizes that can be used as start-up capital to get these projects off the ground. Awarded are prizes in three different categories: Traditional Entrepreneurship;  STEM Entrepreneurship; STEM Projects.

The traditional entrepreneurship category aims at ideas with potential to become a business. These ideas will be framed in traditional areas such as tourism, agriculture or food services; however, they will have an innovative value proposition. Thus, they can have high potential to break into the Ecuadorian market.

The STEM entrepreneurship category is characterized by the inclusion of knowledge in Science, Technology, Engineering and Mathematics, for the establishment of a company. STEM knowledge must be part of the value proposition of the company. Nevertheless, it has an additional challenge, being profitable in time.

Finally, the category of STEM projects welcomes ideas using STEM knowledge to solve a problem or meet the needs of their community. However, that do not have enough projection to become a profitable business. For example, the development of a vaccine focused on people of low socioeconomic level.

In each category three prizes are awarded: the winners get US$1000 for the first place, US$ 650 for the second, and US$ 350 for the third. The competition was attended by a jury of high-level Ecuadorian professionals. They were considered outstanding evaluators in the areas of knowledge of the contest. This way, they would have enough experience to properly grade the ideas. Each project received three grades from different evaluators. Thus, an accurate measure is ensured.

The award ceremony will take place online. The Ministry of Education of Ecuador will broadcast it through Facebook Live. The meeting will be on October 1st at 17:30 Germany (10:30 Ecuador/ 18:30 UK/11:30 Washington).