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STORM idea contest's Rules 2018

1. PURPOSE

STORM is a contest targeted at new business ideas promoting entrepreneurship. The goal is to find business ideas which are based on competence and have commercial potential. The contest is primarily targeted at students and staff at universities of applied sciences in the Päijät-Häme region (LAMK, LUT, HY, Haaga-Helia Vierumäki unit, Salpaus Further Education).

2. REWARDS

All participants will take part in a raffle for:
• 2 Ipad Pros.
The finalists will receive:
• pitching training; pitching for the audience in the STORM finals
The winning team will receive:
• Tickets to Slush
• Consultation about immaterial rights / Berggren Oy
• Support in developing their business idea in spring 2019 (guidance and an opportunity to pitch the idea to investors) / Green Campus Open Accelerator

3. ORGANISER

Lahti University of Applied Sciences
LAMK StartUp Accelerator project
Mukkulankatu 19, 15210 Lahti
LAMK Entrepreneurship Society (LAMKES)
Kirkkokatu 27, 15140 Lahti

4. PARTICIPATION

Fill in the electronic entry form on www.stormideacontest.fi. By filling in the form and submitting it, the contestant accepts the competition rules and data protection policies. Entries are accepted in Finnish and in English.
The entry form can include one small attachment, such as a piece of text, image or a graph on one A4-sized PDF or a video with the maximum length of one (1) minute presenting your idea to the jury. The form has to be filled in for each entry.
The jury selects five (5) ideas for the finals from all entries. The finalists take part in training during week 46 in order to refine their presentation. The list of finalists will be published on 5 November 2018. The finalists will pitch their idea to the jury at the finishing event in Lahti on 22 November 2018.
The results will be published at the finale on 22 November 2018. A right to publish the winner’s name and entry is a prerequisite for receiving a reward.

5. ENTRY PERIOD

Entry forms are accepted from 24 September 2018 until 22 October 2018.

6. JURY

The jury will be announced one month before the finale. The jury will consist of business experts and LAMK’s cooperative partners. The organiser reserves the right to change the jury without a separate announcement.

7. ASSESSMENT CRITERIA

A fundamental prerequisite is that the entry is feasible and has technological and/or commercial potential. The further the implementation plans have progressed, the better the chances are for the entry to succeed. The idea’s novelty value and business potential are of crucial importance. Moreover, the team’s diverse competence and experience will also be of advantage.
When assessing the business ideas, the criteria are as follows:
• The idea’s feasibility
• The idea’s innovativeness
• The idea’s growth potential

8. PUBLICITY

• The business ideas will be treated confidentially by the organisers and the jury.
• The participants are responsible for protecting their own ideas the way they see fit (for instance, by patents).
• The finalists will pitch their ideas to the jury at an open pitching event on 22 November 2018. Media representatives will also be invited.
• The winning business ideas will be published. (If a contestant wants to limit the rights to publish his/her idea, s/he has to mention it in the entry form. The final pitching takes place at a public event.)

9. PUBLISHING THE RESULTS

The results of the contest will be published and the rewards presented in Lahti on 22 November 2018.

10. OTHER TERMS AND CONDITIONS

• The same contestant may submit various ideas, but each idea has to be presented on a separate entry form.
• The contestants can either take part individually or in a team of maximum 6 members.
• The jury or members of their family are not allowed to take part in the contest.
• If the entry if submitted by an employee of a business, the contestant ensures s/he is following the rules of the Act on the Right in Employee Inventions.
• If the entry is submitted by an employee of an educational institution, the contestant ensures s/he is following the rules of the Act on the Right in Inventions Made at Higher Education Institutions.
• The contestant certifies that the idea is his/her own, and does not infringe on other people's immaterial rights.
• The rewards will be presented to the contact person listed on the entry form or the team as a whole.
• The contestants accept the competition terms when submitting their idea.
• The decisions made by the jury are final, and cannot be appealed against.

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Lahti University of Applied Sciences
FellmanniCampus
Kirkkokatu 27
15140 Lahti
FINLAND
EMAIL: info@stormideacontest.fi