Prize Money: €10,500 cash
The CIT Prize for Innovation is open to all registered CIT students.
Can be part of coursework/project
Individuals or groups can apply for the competition and can be from any year of study or discipline
CIT Entrepreneur of the year €4000
Best Business Opportunity €1500
Best Concept €1500
Presidents Award €1000
Best Pitch €500
Best Exhibition Stand €500
Best Design Award €500
Best Prototype Award €500
Social Entrepreneurship Award €500
CLOSING DATE FOR APPLICATIONS: February 12th 2021
Awards Ceremony 5th March 2021
CIT Prize for Innovation
Competition and Requirements and Rules 2020-2021
1. How to enter
All teams/ individuals are expected to abide by the specific rules listed below. The competition organiser's reserve the right to disqualify any team or candidate that violates the rules, regulations or the spirit of the competition. Eligibility is subject to individual review for special circumstances. The adjudicators’ decision is final.
2.1. Undergraduate, postgraduate and part-time students from a course in CIT are eligible to enter the competition. Proof of registration at CIT will be requested from all short-listed candidates.
2.2. Candidates must be actively involved in the project.
2.3. Teams can seek advice from mentors or outside experts, but the project must be entirely student-led.
2.4. All team members listed on the final project/business plan will be considered full team members with equal share of the project, unless otherwise stipulated in the project plan.
2.5. A project or team that has previously entered the CIT Prize for Innovation Competition may not re-enter this year's competition with the same project.
2.6. Team members competing must be principle owners of the project.
2.7. All project/business plans must be written in English
3. Requirements for Team
3.1. A team may consist of CIT students from any faculty or constituent college.
3.2. We encourage students to work with students from other departments and schools in CIT.
3.3. It is encouraged that teams do not exceed more than five members; however larger teams will be accepted. Each team must nominate a maximum of five team members for presentation to the judges on Thursday 4th of March 2021. Please note that each team must also nominate a maximum of five team members to be present on the stand on Innovation Day (Friday 5th of March 2021). All students in the team will be recognized with a certificate and equal credit and share of award.
3.4. Team members must remain the same throughout the competition.
3.5. Students may not participate in more than one team.
4. Submission Guidelines
4.1 Please ensure that your application is finalized before the deadline otherwise it will not be counted.
5. Assessment Criteria
A selection panel, consisting of entrepreneurs and business people along with representatives of the sponsors will shortlist entries on the basis of the business plan submission and the video clip pitch. Short-listed entrants will then proceed to the final stages of the competition.
6. Confidentiality and Intellectual Property Guidelines
6.1. If the product/business has patent potential it is recommended that students seek Intellectual Property advice to ensure their product/business is protected prior to any potential disclosure through presentations and/or display at Innovation Day (awards ceremony).
6.2. Innovation Day and the Awards Ceremony of the competition is open to the public and may be broadcast to interested persons through media, which may include radio, television and the Internet. Any data or information discussed or divulged at the awards ceremony by entrants should be considered information that will likely enter the public realm, and entrants should not assume any right of confidentiality in any data or information discussed, divulged or presented at the awards ceremony.
7. The Final
Short-listed candidates will be required to present their projects in person to a judging panel drawn from the business community, distinguished entrepreneurs and sponsor representatives in the final of the competition. Please note that final presentations will take place on Thursday 4th of March 2021. The coveted title of CIT Entrepreneur(s) of the Year will be announced, together with all the winners, at a high profile awards ceremony on Friday 5th of March 2021. All participants (even those who are not shortlisted) are required to be present for the awards ceremony where the adjudication of best exhibition stand will take place. All participants will be considered for the Best Exhibition Stand Prize Category on Innovation Day.
- Final presentation guidelines will be distributed to short-listed candidates as the competition progresses.
- Exhibition guidelines will be distributed to all participants prior to Innovation Day.
- A media relations campaign will publicise, to the widest public audience, all the projects selected to go forward to the final stage of the CIT Prize for Innovation, which is sponsored by the Cork LEOs(North & West Cork, South Cork and Cork City).
- Note: If there is not a sufficient quantity or quality of projects received under any prize category prizes maybe reallocated to a new category.