Idea stage
The deadline for the first stage, the Idea Stage, is in December. During this stage, you have the option to submit your idea on one page in the format of an executive summary. Our working partner: de Kleine Consultant, will read and evaluate your idea and provide you with feedback. The 10 best executive summaries receive a price of €100! Important to note here is that we make sure your idea remains your idea. Everyone will sign a nondisclosure agreement: we guarantee that your idea is safe with us and will not get stolen.
The next step is to improve certain aspects of your idea (if necessary) and transform your idea into a real Business Plan according to our Guidelines. This will take place during the Second Stage: The Development Stage!
Development stage
In the Developing Stage, you will transform your executive summary into a real business plan. We provide you with clear instructions on how to write a business plan. This stage will bring you one step closer to participating in the Semi-Final.
After submitting your business plan, our Business Panel, consisting of successful entrepreneurs and business(wo)men, will evaluate your idea. You will receive personal feedback based on criteria such as originality, sustainability and degree of innovation. The thirty best startups with the highest scores will make it to the Semi-Final which will take place during the next stage: the Refining Stage!
Refining stage
In the Refining Stage, startups are invited to join workshops, such as Prototype Day and Investor Day. During our Prototype Day you will validate your idea, work on your UX/ UI design, or technical feasibility. Meanwhile Investor Day is there to provide you with network opportunities with our investor partners.
Next, is the Semi-Final in which 18 Innovators and 12 Rough Diamonds will compete for a spot in the Grand Final. Normally, the Semi-Final is organized as a Innovation Market located in Rotterdam. However, this year "The Semi-Final Battles" will be broadcasted online as a series. In each episode the startups will pitch their idea in front of a jury, and by the end of the series, you will know who is going to participate in the final stage; the Grand Final.
Final Stage
During the Final Stage, the Philips Innovation Award will reach its climax. Five Innovators and three Rough Diamonds will battle for a price worth €50.000 and €10.000, respectively. To prepare for this day, a Coaching Day and Pitching Day will be organized.
The coaching day will be held at ABN AMRO and helps you to finetune the last aspects of your business plan. The Pitching Day gives startups the chance to practice and improve your pitch, and to make you feel confident on stage. The Grand Final of the Philips Innovation Award 2022 will be held on May 30th, 2022. It will be an inspiring evening full of great pitches, Innovation and excitement.
