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Tuesday, December 6, 2022

Grant Opportunities: NEC Innovation Challenge for Startups from Around the World

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Deadline: 4-Dec-22

Internationally renowned IT and electronics group, NEC, and its Partner companies, are on a quest to find innovative companies worldwide with solutions in Healthcare & Lifesciences, the Metaverse and Carbon neutral. Could you be the perfect fit? If yes, NEC is looking for startups with Healthcare & lifescience, Metaverse and Carbon neutral solutions to collaborate together.

The rewards for the most innovative solutions include funding of up to US$20,000 to develop a full Proof of Concept (PoC), support to enter the Japanese and US markets, and other unrivalled collaboration opportunities with NEC and its Partner companies!

This once in a lifetime opportunity to work alongside a leading global brand is not to be missed! What are you waiting for?

Purpose of the Challenge and Participation
  • Participation in the Challenge must be individual (Individual Participant) or as a Startup.
    • Individuals. Individual Participants must enter the Challenge in their individual capacities
    • Startups. Startup Participants enter the Contest on behalf of their legal business organizations. During the registration process, Startup Participant must designate one individual who is part of the company for contact purposes with the Sponsor. This person will be responsible for registering the Startup at the Challenge and participate in the Challenge on behalf of the Startup. As a Startup participating in this Challenge, you represent and warrant to the Sponsor that such person (i) is an authorized representative of Startup and is participating in the Challenge on behalf of such company, and (ii) has obtained all necessary approvals to enter the Challenge, including all persons qualified to grant any intellectual property rights to Sponsor. Any individual who is employed by a Startup may also submit its participation as an Individual Participant.
  • The goal of the Challenge is for Participants to submit contributions (or projects) meeting the requirements determined by the Sponsor in the Challenge brief, and that are formalized by deliverables. The brief includes information regarding various deadlines, details of the prizes, Sponsor requirements etc. (the “Brief”). The Brief is accessible through the Challenge website.
Themes

NEC’s mission is to bring together the smartest minds on the planet to develop the new unicorn ideas of tomorrow. The NEC Innovation Challenge invites startups and NEC employees to deliver a proof of concept for a new innovative product or technology service, which addresses one of the 3 key themes below.

  • Healthcare & Lifescience.
  • Metaverse.
  • Carbon Neutrality.
Award Prize

4 different types of prizes await their selected startups!

  • NEC Prize
    • Proof of Concept of up to US$20,000.
  • NEC X Prize
    • Access to the NEC X venture studio and travel to Silicon Valley for the kickoff week (flight and hotel expenses covered for 1 person).
  • NOFF Prize
    • Discussions for funding from NOFF
    • NOFF (NEC Orchestrating Future Fund) is a multi-LP corporate venture capital managed by Translink Capital as a GP. NEC is an Anchor LP for the fund.
  • Bird Initiative Prize
    • Access to the BIRD startup studio.

The final of The NEC Innovation Challenge will be attended by the 10 selected finalists. They will have the opportunity to pitch their solution to a panel of senior management from NEC.

Eligibility Criteria
  • This Challenge is open and offered solely to:
    • Individual Participant. Individuals aged eighteen (18) years and/or with full legal capacity at the time of registration. Each Individual Participant may only participate once in each Challenge.
    • Startups. A business entity, regardless of its business area. Startups may be required, in Sponsor’s sole discretion, to provide proof of
      • Company registration by submitting a registration certificate issued within the last three (3) months, or ongoing company registration, or any trade registry and proof ensuring the registration of the entity in the relevant country, and
      • A valid professional insurance policy subscription.
  • All the documents that may confirm the Participant’s eligibility may be required prior to awarding any prizes (e.g. identity document, registration certificate, student card etc.).
  • This Challenge is not open to employees and representatives of the Agorize and the members of their families. On the other hand, this Challenge is open to employees of the Sponsor. Such employees may take part in the Challenge as a member of a group representing the Sponsor, or independently from the Sponsor.
  • This Challenge is void in countries where it is prohibited or restricted by law.

For more information, visit https://nec.agorize.com/en/challenges/nec-innovation-challenge

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