COSTECH

TECHNOLOGY INCUBATION BUSINESS PLAN COMPETITION FOR GRADUATES, INNOVATORS AND INVENTORS

1.0    Background

Tanzania Commission for Science and Technology is launching a Technology Incubation Business Plan competition for young graduates from higher learning institutions, innovators and inventors. The aim of the competition is to support entrepreneurship and innovation through incubation process as one of the steps towards commercialization of viable inventions, innovations and proven technologies. The competition requires a team of multi-displinary young graduates to prepare a viable technology business plan which they could implement. It further requires that the team should identify a location for implementation of their business plan. Winners of the competition will be awarded TZS 50,000,000/= (Fifty million TZS) as a seed money to implement their business plan.

2.0    The Technology Business Concept

The competing team is required to submit a technology business concept which will introduce the team members, business idea, the technology to be incubated, the potential market and the financial analysis. This should be a 2-3 page document.

3.0    The Business Plan

For the selected technology business concepts, the competing teams will be required to prepare full business plans which could be implemented. The business plan should be based on innovative new ideas or high tech. acquired elsewhere or R&D results which are ready for commercialisation. The plan should be socially, environmentally and economically viable. It should indicate how many jobs will be created and its contributions to the improvement of the livelihood and poverty reduction. It should also have a clear financial projection indicating financial sustainability by showing break even period.

4.0    Criteria

The criteria for participation are as follows:
•    A team of young graduates, innovators or inventors with multi-disciplinary specialities (Agriculture, Commerce, ICT, Economics, Engineering, Marketing, Medicine, Science, Sociology, Veterinary etc.).
•     Applicants must be nationals of the United Republic of Tanzania
•    Willingness to sign Participation Letter of Agreement and if selected, a Letter of Agreement.

Basic criteria/rules for submitting and assessing technology business concepts:

•     All technology business concepts must be for-profit enterprises.
•    The technology business concept/ idea should be potentially viable and legal.
•    Technology business concept proposed should be in a technology–oriented sector e.g, agriculture, processing and manufacturing, programming and software development, high tech. assembling, extension services, etc,
•    Counselling, marketing, consultancy and other services with no value addition will not be considered.
•    A team should present not more than one technology business plan in this competition. A team presenting more than one technology business concept shall be disqualified.
•    The innovation or technology around the technology business concept/idea must be original and/or innovative work of the participating team.
•    The Technology Business Concept MUST be typed in Microsoft Word in English using Times New Roman font size 12 and should not exceed 5 pages with 1.5 line spacing. Hand written applications will NOT be considered.
•    Applications must be submitted in time, during the application period. Late applications shall not be considered.  
•    No application fee is payable.  
•    The judges and the organizers will take the utmost care in handling entries with confidence.
•    Entries remain the property of the legal team owner.  
•    Competition prizes are non-transferable, non-routable and non-extendable.
•    Prizes are subject to the laws of Tanzania, including tax regulations, as may be applicable to certain participants.
•    Confidentiality: Your technology business concept/idea and technology business plan will be treated in the strictest confidence. All organizers and sponsors/judges are highly respected professionals who regularly deal with confidential information in the course of their work. The protection of intellectual property rights will be observed.
•    Short listed applicants may be called to present their submission in front of a panel in order to get the winner.
•    A team should have a Patron and a Leader.

5.0    Application Submission

Applications alongside the curriculum vitae of team members should be submitted before JANUARY 31, 2010 to:

The Director General
Tanzania Commission for Science and Technology (COSTECH)
Ali Hassan Mwinyi Road-Kijitonyama
P.O. Box 4302 Dar es Salaam
Tel. 2700745/6
Fax 22 2775313
E-Mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it or This e-mail address is being protected from spambots. You need JavaScript enabled to view it

6.0    Evaluation of the Business Plans

The Tanzania Award for Science and Technology Advancement (TASTA) Committee will be responsible for handling of the competition and getting the winner. The intellectual property rights of the submitted plans will be strictly observed by the Commission.