AUTEL INNOVATION CHALLENGE APPLICATION
At AUT Enterprises Ltd. we take every new idea/concept/service proposition presented to us seriously
as a potential “winner”! To help us evaluate your idea, this application form attempts to tease out
important components of your idea that inform our decision. The application form covers four essential
steps to judging a “winning” idea.
These four steps are required of anyone seeking to validate their venture idea or business concept.
They can be used as a filter for your ideas. Once you have completed these steps, if you find your idea
is NOT “ready for prime time” (it has already been done, has already been commercialised, or just
“doesn’t have a market”) – don’t be discouraged! Keep thinking about possible derivations – changes in
your concept – or think of something else, and run it through the process again!
Four step application process:
1. For a new product that you believe does not exist, you MUST check with Google Patent Database
and do a "quick search" at least to see if someone has already patented/filed a pending patent on
your idea, or part of your idea? An existing or pending patent that is the same or similar enough to
your concept/idea can prohibit you from selling/using/manufacturing your invention to the public.
The results from the patent search will also indicate the level of competition of your targeted
market.
2. You MUST be able to describe how this idea "solves a problem" that is out in the market (in other
words, is it a solution to a problem, or a problem in search of a solution?). In addition, you need to
explain why existing solutions, if there are any, fail to solve the same problem as your idea. Finish
with a brief description of the company and products or services you envision. If your business is a
service or involves products/components that already exist, indicate whether your idea is free to be
commercialised (i.e. intellectual property infringement issues and regulatory/certification hurdles).
3. You should do some desktop Internet research on everything related to your idea to see if anyone
else is doing something like it? For example, if you had invented the “Frisbee”, you would search
on “flying discs”, “flying toys”, “outdoor games/activities”, and any other related terms. This is to let
you know if anyone else has already had a product or service similar to yours.
4. Consider:
a. Who would buy this product or service?
b. What is the geographic market you plan to serve?
c. Why would they buy from you as opposed to other existing product or service?
d. What are some key risks that will stop you from developing your idea i.e. missing key
skills/expertise and regulatory/certification hurdles
e. How will the product or service be delivered to your target market?
f. What are the price points for the product or service?
Please submit completed application to: enterprises@aut.ac.nz
AUTEL INNOVATION CHALLENGE APPLICATION FORM
Title: Give your application a title relating to your idea/product/business/service.
Applicant Details
Applicant Name:
Department:
Phone:
Mobile:
Email:
Other contributing inventors:
Innovation Concept
Description:
(200 words max)
Briefly describe your concept/technology/product/service/business. What does it do/provide? What
is the area of commercial application(s)?
Stage of Development:
(100 words max)
E.g. Concept development, concept testing, prototype, proof-of-concept…
Novelty/Uniqueness:
(200 words max)
In what ways is your idea novel? What features make it unique? Have you done any patent search
to test the novelty and uniqueness?
Market Validation
Market need:
(200 words max)
Have you identified a need for your concept – motive for purchase? What market need is your
proposed idea trying to solve? What is its value? How did you validate the market need?
Target market:
(150 words max)
Who is your customer, what do they think about your concept, how badly do they want it? (The
party that is likely to purchase the concept), what is the size of the market? What are the related
market trends?
User focus:
(150 words max)
Who is the user and what do they think about it? (the person who makes use of the technology or
applies it)
Current solutions / competition:
(200 words max)
What competing concepts have you identified? What are their weaknesses and strengths
Competitive advantages:
(150 words max)
What differentiates your product/technology from the competition? How can these differentiations
be sustained and protected?
Path to market:
(250 words max)
How is your concept going to get into the hands of your target market? How will you find your
customers and promote your concept to them?
Commercial Development
Objective
(150 words max)
If you won the AUTEL Innovation Challenge what do you think the money should be used for?
Clearly identify the objective (intended outcome) of future commercial development
Scope:
(100 words max)
What further commercial development is necessary to achieve the above?
Methodology:
(150 words max)
Briefly outline the approach that will be undertaken to develop the technology concept from its
current status to the end point of this project.
Time to completion:
(50 words max)
When do you estimate having completed the project?
Key skills/capability:
(100 words max)
What key skills/capability is required to develop this concept? Do you have what is required or is
this missing?
Key risks to completion:
Risk:
(max 10 words each)
Proposed mitigation:
(max 50 words each)
Please submit completed application to: enterprises@aut.ac.nz
Key personnel:
List key people to be involved in the development and describe what work they would carry out.
Name
Track record:
(max 50 words each)
Contributed skills to this project:
(50 words each)
Budget (ex GST)
E.g. Materials and consumables
$
E.g. Salaries/stipends
$
E.g. Prototyping
$
$
$
…add required number of rows
$
Total:
$
Business Model
Description:
(200 words max)
Describe how you will monetise your concept?
Cost Structure and Revenue
Streams
(300 words max)
Provide information around Cost Structure (manufacture, IP protection, customer acquisition,
distribution etc.) and Revenue Streams (revenue model, price, gross margin, royalty rate etc.),
whatever is applicable for each.
Diligence
Yes
No
Are you interested in and able to commit time to the commercial development of this idea, taking your current
workload into consideration?
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Have you read and understood the AUT Intellectual Property Policy that can be found on The Wire?
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Are there any other parties that could claim ownership of your concept?
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Have you used anyone else’s knowledge, products or intellectual property? (Student thesis, software code etc.)
If ‘YES’, please provide details.
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Have you considered the need for contracts with students or third parties?
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Have there been other organisations involved in the development or funding of this project?
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Have you published, publicised, or offer for sell any aspect of this application in any way which might
compromise its protectable status?
If ‘YES’, please provide details.
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Have you engaged with a commercial partner?
If ‘YES’, please provide details.
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If ‘YES’, please provide details.
Please submit completed application to: enterprises@aut.ac.nz