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Six reasons why you should participate in the UT Challenge

The first edition of the University of Twente Entrepreneurial Challenge (UT Challenge for short) has begun. Here are six reasons why you should participate!

The challenge is a collaborative venture between the University of Twente and over 20 leading companies and organizations in the Twente region. University of Twente students will be challenged to further develop their innovative ideas, prototypes, business plans or research projects in partnership with organizations in the UT Challenge network. Students can register via the online platform www.utchallenge.nl. Registration closes on 7 April.  

1. First of all, the UT Challenge offers great prizes

During the final event, we will be giving away various prizes for winners in the categories of ideation (€4,000) and prototyping (€6,000). In addition to these prizes, the ASML Makers Award (€2,500 + 100 hours of multidisciplinary support) and the Audience Prize (€2,000) will also be handed out.

2. The UT Challenge offers the opportunity to build a great network

Networking is an important part of the UT Challenge: it’s the initial step to making it through the first selection. You will be creating an ‘online support platform’ for your project by collecting votes and comments. The total number of votes will have a weight of 20% in the assessment. Note that the votes will also be taken into consideration during the final event, which makes your chance of winning the UT Challenge Audience Prize even greater.

3. The UT Challenge offers the Golden Egg Check and online coaching to create the best business plan

The remaining 80% of your score depends on the quality of the business plan, which you can create using a special software program called the Golden Egg Check. A Golden Egg Check is required to continue to the next round. The coaches are from leading companies in Twente. They will have access to your business plan through a secure login. These coaches will also be selecting the top 50 contestants.

4. The UT Challenge offers a great module for the workshops at the NIKOS Centre

The workshops will take place between 4 April and 30 May in The Gallery. All participants can attend these workshops. Every workshop is focused on preparing for the final event.

5. The UT Challenge offers speed dates with company coaches

While the workshops are open to all participants, the speed dates will only be available to the top 50 projects. These speed dates will take place on 2 May, when all of the company coaches will be at The Gallery. This is an opportunity to join the speed date sessions with them, pitch your innovation and receive feedback directly!

6. The UT Challenge offers the opportunity to pitch your idea to a broader audience at the final event

Based on the assessment of the Golden Egg Check, a top 20 will be selected. These 20 contestants will proceed to the final event on 13 June. The final of the UT Challenge consists of two parts and will be part of the UT Entrepreneurial Day.

Check www.utchallenge.nl