HiT Barcelona, the global Innovation Summit HIT Barcelona‟11 is an international summit that will bring together CEOs, presidents, general directors, directors of innovation, businesspeople, entrepreneurs and investors from around the world in Barcelona on June the 15th and the 16th, 2011. This summit is an initiative of the Spanish Ministry of Industry, Commerce and Tourism, the Autonomous Government of Catalonia, the Barcelona City Council, the Barcelona Chamber of Commerce and La Caixa. It is organised by the Fira de Barcelona and the Barcelona Plà Estrategic. HiT Barcelona‟11 combines top-level plenary sessions with a programme of meetings and sector-specific activities where some of the most innovative business projects worldwide will be presented. The event will also host the international business plan competition for entrepreneurs, The Global Entrepreneurship Competition.
World Nominating Committee Universidad ESAN is one of the 28 “Entrepreneurship Centres” (Business Schools, Incubators, Technological Parks and Universities) worldwide to become a member of the World Nominating Committee. The Committee is responsible for selecting the projects to participate in the final selection rounds of the Global Entrepreneurship Competition and The Growth Company Showcase in Barcelona.
The Global Entreprenurship Competition The Global Entrepreneurship Competition is a unique opportunity for entrepreneurs to present their business plans and compete for capital investment. The selection will be based on innovation, impact, projected growth, projected returns and relevance to the current global situation.
Requirements Applying companies will have the following profile: Ventures from any sector. Must be less than 3 year-old companies. Have had a maximum turnover of 3 million euros. o Existing revenue/turnover amounts will not be important criteria in itself, but can be important as validation of the business model. More important is the potential for significant revenue in the future. Have not received capital financing of more than 3 million euros or, if they have, have made a loss for two consecutive years in the last five years. Have ambitious and capable management teams.
Serious technology with sustainable competitive advantages preferred, but not required. Have potential for growth and impact on the global market. Must have a high innovation component, understanding innovation in the broad sense (product, process, business plan, etc.) Must have representatives with high-level English language skills, as the competition process will take place in English.
Companies selected will travel to Barcelona in order to present their Business Plan at investors. Ventures invited to the competition will receive:
A double room for private use in a four star hotel in Barcelona for 3 nights (arrival on June 14th and departure on June 17th, 2011). The organization will pay for the cost of a double room for private use. If a second representative of the company chosen as a finalist would like to stay in the same room, the organization will cover the additional costs derived from this use.
One round trip plane ticket, tourist class, from their city of residence to Barcelona in order to attend the Global Entrepreneurship Competition 2011. Finalists can send up to four representatives and all will receive free access to HiT Barcelona, but the organization will only pay for travel and accommodation expenses for the first representative. Expenses for any other representatives must be covered by the finalists.
Evaluation criteria
Innovation: extent, uniqueness, proprietary rights, and centrality to the venture Impact: economic and social Scalability / growth potential. Fit: with the team, the initial markets, the resources available Potential for financial return. Potential for global positioning
Benefits The ventures presenting their projects at GEC‟11 will obtain the following benefits: An opportunity to compete for 35,000€ in cash prizes. The competition designates three prizes: - 1st Prize 20,000€ - 2nd Prize 10,000€ - 3rd Prize 5,000€
The biggest boost to their project exposing their business plans / projects / services to the most important figures from the international investment community. Possibility to obtain strategic agreements (technological, commercial). Potential for capital investment. Possibility to triumph in the world competition of business enterprises, in which excellence and innovation are essential. The opportunity to connect with the best global Venture Capitalists. The possibility to connect with local companies. The winners will obtain PR press coverage.
Information to Entrepreneurs Entrepreneurs must send the following information in order to participate in The Global Competition. Company identification
Address, tel., URL Month and Year Founded Contact name, title & email
Business Model Business Summary (one line pitch) Customer problem Our Product/Service/Solution Our customers target and our Sales/Marketing strategies Our revenues model What is your target market? Who are your primary competitors Our competitive advantage Financial information: Describe the source and amount of the external capital you have raised Revenue and Profitability for the last 2 years and 3 years of future projections (please provide revenues, expenses, gross profit, ebitda).
The Growth Company Showcase The Growth Company Showcase chooses growth companies of IT/Media, HealthCare and CleanTech sectors from around the world. The purpose is to create community and opportunities for these ventures that have progressed beyond the start up phase
Benefits
Within each sector, companies will compete for 1,000 euro prizes in three categories: o Biggest Innovation o Providing the greatest social value o Potential for having the biggest impact Free pass to attend Hit Barcelona 2011. All companies are invited to join us in this unique event. Possibility to upload a video with an elevator pitch (1 minute length) in the web of HiT Barcelona. Opportunity to upload the executive summary of the company in the web of HiT Barcelona. In the Trade Show/Marketplace area, the space for connecting investors, entrepreneurs, business leaders and world experts, there will be a special zone where the company videos of the elevator pitches will be continuously projected. That is the principle meeting point of all congress attendees, the perfect location to get exposure and attract team members, advisors, investors and early customers. The executive summary of each company will be included in the HiT Directory 2011, which will gather the most outstanding companies and projects with the highest potential at global level. Companies attending HiT Barcelona will also have an agenda devoted to promote their project and to provide them great visibility: o They will have the opportunity to participate in a „speed dating” event with the members of the Global Judge Committee, the TOP 25 of the major Venture Capital and Corporate Venture funds at a global level. o The attendance at HiT Barcelona offers the possibility to network and connect with other innovation community players worldwide.
Information to entreprenurs Entrepreneurs must send the following information in order to participate in The Global Competition. Company identification
Address, tel., URL Month and Year Founded Contact name, title & email
Business Model Business Summary (one line pitch) Customer problem Our Product/Service/Solution Our customers target and our Sales/Marketing strategies Our revenues model
What is your target market? Who are your primary competitors Our competitive advantage
Financial information: Describe the source and amount of the external capital you have raised Revenue and Profitability for the last 2 years and 3 years of future projections (please provide revenues, expenses, gross profit, ebitda).
Deadline 18 March‟11