From learning what appeals to investors and increasing the public’s awareness of your products, there are huge benefits to be gained from winning competitions such as Bright SCIdea. So, how can you benefit from entering and what’s in store from this year’s shortlisted teams?
There was a fine article recently in Nature that crystallised the many benefits of entering science competitions, which extend far beyond the coveted prize money.
Winning the competition can take your product from obscurity into the eyes and minds of the public. Importantly, winning immediately gives your innovation credibility as your product (and your vision for it) will inevitably have been vetted by a team of expert judges.
You will also gain valuable publicity. Not only will the organisers promote these innovations, the new-found exposure will increase traffic to your own website and social channels.
Another really important facet of these competitions is that they help develop business sense in line with scientific innovation. In the aforementioned Nature piece, Ulrich Betz, Vice-president of Innovation at Merck, said: ‘Joining competitions can be a useful way for researcher-entrepreneurs to learn what appeals to investors and companies — training that many academic researchers lack… Participants have told me they’ve become more confident working in science and business after taking part.’
Indeed, this tallies with the experiences of last year’s BrightSCIdea winners, Metallogen. The team developed a novel nanoparticle spray that assists the natural process of phytoremediation to extract rare metals from mining. These metals can be sold on the market while decontaminating land next to mining sites at the same time.
Last year’s Bright SCIdea winners used a novel approach to boost metal recovery on old mining sites and decontaminate the land.
However, having an ingenious idea is one thing. Bringing it to market is another. And this is where the training for all the shortlisted teams helped. Metallogen’s John O’Sullivan and Rafael Hunt-Stokes said: ‘The competition has also taught us how to carry out market research and put together a cogent business plan, with the pitching training giving us the ability to convey our business idea in a compelling manner to investors and other stakeholders.’
>> Inspired by Metallogen’s success at Bright SCIdea? Read more about them in our news article.
So, from network building to training and advice on key areas such as intellectual property, these competitions can sharpen your innovations and bring them to that all-important next stage. That’s exactly what the shortlisted teams for this year’s BrightSCIdea plan to do.
This year’s entrants have certainly taken it upon themselves to tackle some of society’s grandest challenges. The Eolic Wall team, hailing all the way from the National University of Engineering in Peru and Universidade Estadual Paulista in Brazil, has created a wind energy system to help in our low-carbon energy transition. The Unmasked team (from the University of Durham) is also seeking to address the UK energy crisis while tackling waste by producing insulation materials from disposable face masks.
In health, the BioTech Inov (University of Coimbra, Portugal) team has entered a ‘highly efficient and versatile nanotechnological subcutaneous biomedical device with a high lifespan’, and the Hatton Cross team (from University of Warwick, QMUL, and Imperial College, London) has also submitted a wearable device that aims to enhance the wearer’s quality of life.
In an effort to address mental wellbeing, the Happy BioPatch team (from Oxford University and Manchester University) has created ‘a wearable gadget which continuously monitors cortisol levels aiming to prevent serious consequences as a result of stress’. Finally, the CardiaTec team (from the University of Cambridge) is specialising in tackling cardiovascular disease.
There’s so much to be gained from being part of competitions such as BrightSCIdea. We can’t wait to hear from the leaders of tomorrow.
Who knows? Maybe this will be the first you hear from a future Nobel prize winner?
>> Keep an eye out on Twitter for all of the wonderful innovations in this year’s BrightSCIdea competition at: @SCIupdate.