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NIBM Vishwa Paasala

NEOTERIC 2020 Business Innovation Competition

Introduction

NEOTERIC – A Business Innovation Competition was initiated in 2018 in celebration of the 50th anniversary of the National Institute of Business Management. The competition was held in encompassing youth talent nationwide. The competition focuses on identifying innovative, cost-effective and marketable products and services.

This is a National Innovative Competition held with the objective of providing a platform to exhibit the Hidden Talents & Innovative Skills of the Future Generation. The output is a solution provided to fill an existing gap that has been identified in the present society.

The competition broadly aims at school children who have novel futuristic ideas that could bring about a positive change. The participants of age 14 to 19 years representing all provinces are eligible to take part in the competi- tion. The participants are given the opportunity to present in all three (Sinhala, Tamil, English) languages.

The competition will be held in three rounds. Upon calling the applications, initial screening will take place as of round one. Those who qualify from the first round will have to present a prototype of their idea in front of a panel of judges in the second round. Those who qualify for the final round from all districts will be competing in the grand finale.

Scope

The NEOTERIC Business Innovation Competition will be covering all provinces of Sri Lanka. Schools interested in taking part in the competition can coordinate with the respective Regional Campuses of National Institute of Busi- ness Management (NIBM) as follows:

Special Notes:

Area of coverage: Regional Campus – 25 schools & Colombo Main Campus 50 schools

Competition Details

We are looking for innovative, cost-effective and marketable products, services and ideas that would thrive in today’s competitive market.

Round 1: NEOTERIC Screening

Location: National Institute of Business Management, Vidya Mawatha, Colombo 07
At this stage, applications will be shortlisted, and the most innovative ideas will be selected by a panel of esteemed judges. Application form should be properly filled and authorized by the Principal of the school and sent back by mail on or before the stipulated deadline.

Round 2: NEOTERIC Showcase

Location: National Institute of Business Management, Vidya Mawatha, Colombo 07
The applicants who qualify from the initial screening will have to present their idea with a prototype to a panel of judges. The selection criteria will be shared among the participants upon the initial screening.

Round 3: NEOTERIC Finale

Location: National Institute of Business Management, Vidya Mawatha, Colombo 07
At this stage the participants of all districts will present in detail their improved products in front of a Panel of judges that consist of industry experts.

Proportionate Selection

Round 1: NEOTERIC Screening

As the total number of interested applications are to be indeterminate, the number of qualified applications from the initial screening will be subjected to the final decision of the judges in considering the total number of applica- tions received

Round 2: NEOTERIC Showcase

Out of the total number of qualified applications screened, most successful three contestants will be finalized to present at the grand finale as follows.

Round 3: NEOTERIC Finale

Out of the final 15 successful contestants the top three will be selected and awarded as winners accordingly.

Neoteric Layout

Additional Information

NEOTERIC Teachers’ Seminar:

The teachers’ seminar is organized in order to create awareness among the school teachers about the competi- tion and the importance of bringing the innovative students to the spotlight which empower them to carry forward their innovation.

NEOTERIC ENERGIZER – ‘Workshop for competitors’:

This workshop is organized in order to help the competitors to further improve their products. This will provide the student with the opportunity to meet industry experts and innovative entrepreneurs and receive advice on enhancing their prototype.

Neoteric Timeline