RESEARCH 2 REVENUE COMPETITION
Research2Revenue, or simply R2R, is a specific stream in the Laurier Entreprenuership Competition (www.laurierentrepreneur.ca/lec). Participants are conceptualizing/developing a business model and go-to-market strategy for technologies that are based on the research carried out at Laurier.
Who should participate?
Faculty members and graduate students that are interested in creating start-up companies as a conduit for converting their research findings into marketable products. For the purposes of the 2016 competition, Laurier staff members are also welcomed to participate.
What is the format of the competition?
Refer toLaurierentrepreneur.ca/lecfor deadlines, dates, and supporting materials.
What’s at stake?
A combination of cash prizes, in-kind services and entry into the LaunchPad program for winning teams. Participants also benefit from raising the profile of their venture, as the competition is covered by local media. And last but not least, it is an invaluable learning experience for researchers beyond their academic degrees!
What resources exist to help prepare for the competition?
Refer to LEC Official Handbook available at http://laurierentrepreneur.ca/lec for general resources related to business strategy and planning, preparing winning pitches, and financing.
Free online course related to Entrepreneurship in general (recordings of the past lectures are also available) http://www.marsdd.com/entrepreneurship-101/
How the cash prizes can be used
The prize money will be made accessible in the form of a research account hosted by Office of Research Services and can only be used to advance your business idea.
Eligible expenses: legal services (incorporation documents, shareholder agreements, IP protection, etc.), reasonable travel expenses for meeting with prospective investors and customers, consumable materials for creating prototypes, service fees for testing products, purchases of software licenses, etc.
Non-eligible expenses: compensation of time for team members, items for personal use, equipment that does not clearly contribute towards advancement of the business idea, etc.
Expenses need to be incurred by the dedicated team member and will be reimbursed against original receipts.
The Office of Research Services provides consulting services related to translation of the research into marketplace. Contact Dr. Oleg Stukalov, University-Industry Liasion Officer, firstname.lastname@example.org, tel.: 519-884-0710 ext 3138 to help your team.