iUP25K – U. Porto’s Business plan Competition

Contact person 
Sónia Pereira
Universiry of Porto
Do you want to share an instrument/policy or a knowledge Transfer practice? 
Knowledge Transfer Practice
What are the following keywords/priorities which better fit the instrument/policy?  
No information provided
Identify the Knowledge Transfer area to which the practice belong 
Spin-off creation & Entrepreneurship
Indicate the country from which the practice is 
What is the title/name of the instrument/policy? 
No information provided
What is the title/name of the practice? 
iUP25K – U. Porto’s Business plan Competition
Indicate the target group/beneficiaries of the practice 
Higher education institutions (education function)
Higher educations institutions research units/centres
What is the aim/objective? 
The aim of iUP25K is to raise entrepreneurial awareness and stimulate U. Porto faculty to spinout new companies.
Give an overview of the practice 
iUP25K – The University of Porto´s Business plan competition revolves around processes of knowledge exploration and innovation, it is a tool to raise entrepreneurial awareness and create new spinout companies. The main objectives of the competition are: • Encourage entrepreneurship and innovation within the academic community; • Facilitate the generation of innovative business ideas in any field of science or technology; identifying and rewarding those who stand by their boldness and creativity, especially when faced with an entrepreneurial project; • Support the implementation of strong business ideas by facilitating access to appropriate funding, as well as strategic business partnerships; • Stimulate learning around the areas of innovation and technology commercialization; • Promote multidisciplinary cooperation and encourage the creation of synergies for the development and / or commercialization of technologies. Two evaluation Stages: • The Main Stage - consisting of a panel of at least 5 (five) experts, who will select ten (10) Projects for the Final Stage; • Final Phase - consisting of a final "iUP25K" event, open to the public, where a jury of five (5) members, chaired by a member of the University of Porto, will decide on a winner (prize €15,000) as well as the 2nd and 3rd prize (€5,000 each). There also exists a fourth prize named the “Audience Award”, as the name suggests voted by the audience, last year the prize for this award was a windows phone, sponsored by Microsoft.
What is the date of creation of this practice? 
Friday, January 1, 2010
Is the practice still active? 
What is the approximate budget needed for implementing this practice? 
What kind of resources is needed for implementing the practice? 
25,000 € (include competition prizes obtained in the form of a sponsorship + 5,000 for Marketing + 5,000 for Operational Costs). This amount excludes organization staff costs. Other resources needed are volunteers (normally associated with the university's entrepreneurship club), a venue equipped with audio-visual equipment, a team of qualified juries to evaluate the ideas, enough contestants for the final event (at least 10) and 2 people dedicated to the organization of the event for a period of 1 months (100% time).
Is this practice linked to an instrument/policy?