Based on the concept of “open innovation,” Philips believes that everyone has the potential to change the way we live our lives – for the better. That’s why we are calling on you to submit the next big idea to address the gaps recently identified in their North American Innovation Report.
According our research, nearly two-thirds of North Americans consider themselves innovators, and the majority of which believe they are sitting on an idea for “the next big thing,” and just need money and know-how to develop it. And, the top two items innovations felt were the key to achieving successful innovation was financial support from big companies and mentor relationships.
Respondents also said successful innovation improves lives, makes daily life easier, and meets an unmet societal need. In other words, people are not as interested in technologies that are created for technology’s sake, but those that are meaningful.
As a result, Philips is calling on you to submit your ideas for products and services that will help change the way we live. Competition entries should focus on the three areas of living well, being healthy, and enjoying life.
What could you win?
Ultimately, the grand-prize winner will receive a $60,000 contribution from Philips, as well as mentoring with Philips executives throughout the year. The remaining four finalists will also receive a $10,000 prize contribution from Philips.
Additionally, all contestants who launch a campaign through Indiegogo and raise funds will keep any support raised during campaign.
Register and submit your idea to www.philips.com/
innovationfellows. If your idea is selected, you will receive an e-mail confirmation about how to move onto Phase 2 of the competition, which will be to start your crowdfunding campaign.
If you already have a campaign live on Indiegogo.com that is not already connected to another partner page, be sure to include a link to that campaign in your entry.
- Competition Organizer
Philips North America
- *International Event*
- *Available in all states*
- Submission Date
- Business Plan Submission Date
- Awards Date
- Competition Category
- Graduate - All U.S.
- Undergraduate - Canada
- Undergraduate - All U.S.
- Business - Canada
- Business - All U.S.
- Graduate - Canada
- Social Entrepreneurship
- Technology - Green
- Technology - Other
- Women or Minority-owned
- Specialized Industries
- Who's Eligible
Each Sponsor reserves the right to permit or deny your eligibility to participate in this Competition and, at any time until the winner is announced, may disqualify you from entering or participating in the Competition for any reason or no reason at all, without liability. All decisions made by a Sponsor or the Judging Panel are final and binding and you agree to abide with all such decisions.
- Important Dates
August 22, 2014 - Submit your idea to Philips at www.philips.com/innovationfellows
August 31, 2014 - All campaigns must be live on Indiegogo.com
- Competition Prizes
Five finalists will each receive a $10,000 cash prize.
One grand-prize winner will receive an additional $50,000 cash prize and mentoring from Philips executives and relevant business line leaders.