With this new youth contest Jump Chile and its motto “Boosting your idea”, EmprendeUC made a huge leap!
After 5 successful versions of this contest, the Pontificia Universidad Católica of Chile, in cooperation with EmprendeUC and SURA Chile and presented by the newspaper El Mercurio, organized the contest “Jump Chile”, which aims at motivating all the young entrepreneurs (pre and post graduates) to apply their business ideas, thesis, researches and projects in categories such as applications and mobile, products and services, health, education and social entrepreneurship.
Last Monday Jump Chile was launched, among others with the presence of the Minister of Economy, Pablo Longueira, who in his speech stressed the necessity of competitions like that for our country and that this step towards innovation is so significant and necessary to achieve development.
Why and how
Moreover, the authority reported that currently there are around 1.500.000 entrepreneurs who develop their ideas with lots of talent and this number is even estimated to increase with the motivation that Jump Chile will create.
“With the realization of Jump Chile we are being consistent with the mission that the Universidad Católico has proposed in the sense of promoting the entrepreneurial spirit in the student community and elsewhere in higher education”,
reflected Ignacio Sánchez, rector of the Pontifical Catholic University of Chile.
Cristóbal García, director of EmprendeUC, also explained during the event the methodology of the contest. Jump Chile basically adopts the methodology of the Business Model Competition (BMC) and that is to encourage young students to test if their hypotheses work “outside”, in the real world, speaking with consumers face to face in order to then change their assumptions.
Development of customer development, pivot, lean startup, design thinking and business modeling,among other tools.
Procedure and prices
This year, Jump Chile will distribute a total of $40 million among the 3 winners in each category and additionally, there are other awards, such as consulting so that entrepreneurs can implement their ideas in a practical way. The first winner of each category will receive $5 million, the second $3 million and the third $2 million.
Quite a lot of cash, it is worth it!
To apply, students must register online in groups of 3 to 5 people until September 28th.
Then 100 ideas will be selected for each region of the country (North, Center and South), so 300 ideas in total will continue competing in this contest.
SURA Asset Management’s president Andrés Castro, for his part, encouraged the new generation to get started on innovating, this instance being a great opportunity of doing it. The consumers, the clients and the public opinion in general require companies that are assertive in many areas, but also they expect completely new ideas, products and services every day.
During the development of the content the entrepreneurs will receive training workshops in order to learn how to create a prototype and a respective elevator pitch. This elements will be evaluated to then decide on the semi finalists. The winners will be announced during an awards ceremony taking place in december.
The finalists will have to present their elevator pitch in front of the judges who will evaluate them right at that moment, determining the 1st, 2nd and 3rd winner in each category.