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Shuqi Su, Zauza Matai, Bibi alisha sanam Talpur and others are enlisted in the challenge
CAREC University Startup Generator 2024
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CAREC University Startup Generator 2024
CAREC University Startup Generator 2024 is calling all full-time university students from CAREC member countries to be part of CAREC region startup revolution! Join us to develop practical, entrepreneurial and soft skills while creating innovative solutions to tackle real-world social and corporate issues in the region. The event is supported by the Asian Development Bank and Republic of Korea e-Asia and Knowledge Partnership Fund.
groups
Teams of
3 - 4 people
Questions and Answers
All questions and answers will be published here. If you cannot find an answer to your question here, please submit a question by sending a message via the platform messaging (On your Participant's Dashboard, click "My Messages" > "Message to Admin")
Since questions and answers will be published in the Q&A section, please do not share any confidential information or information which could indicate your identity in your question.
1. How can I participate in the Challenge?
Register an account to ADB Challenge portal, and click on Participate to this challenge, and follow the guidance to complete your profile.
2. Eligibility
All participants must be full-time students who are currently enrolled in a Bachelor, Master, PhD program, or a technical and vocational education and training (TVET) program at a university or institution in a CAREC member country. Eligible countries: Azerbaijan, People’s Republic of China, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, Uzbekistan.
International students studying in any CAREC member country are welcome to apply.
3. Are there any restrictions on the discipline/subject field of the projects entered?
All discipline/subject field are welcome. The goal of USG2024 is to equip university students with the knowledge and skills to address local developmental challenges using innovative solutions and entrepreneurship spirit.
4. How will the competitions be held?
The competition will be held online with multiple tasks to be released week by week.
5. Team Formation: How can I form a team on the challenge page?
You will form a team among your university colleagues, create a team on the challenge page, and add other team members as coordinators.
7. Team Formation: Can a team include members from more than one college/ university?
No, all members in a team should come from the same college/university.
6. Team Formation: How many people can I have on my team?
Minimum 3 members, maximum 4 members in a team.
8. Team Formation: Can I join even if I do not have a team yet?
No, please join as a team of 3-4 members.
9. Can projects that have been awarded in previous years be resubmitted?
Projects that have been awarded in this competition previously are not eligible to be resubmitted this year.
10. Can we submit proposals addressing any issues and themes?
Your proposal should address issues related to the guiding question described in the category of your selection (Sustainable Development, Digital Innovation).
11. Can I participate in multiple categories? Can I submit more than one proposal?
Each team will participate in only one category and can only submit one proposal.
12. How many rounds of selection are there?
In short, 3 rounds.
- Complete training and submit a pitch deck: Teams are expected to complete all training and submit a pitch deck on the platform;
- National Finals: Based on your submitted pitch deck, 5-10 finalist teams* each country will be selected to participate in the National Final. (* Number of finalists varied by country);
- Regional Final: 1 team each country will be selected to represent the country in the Regional Final round.
13. Are there any restrictions on the discipline/subject field of the projects entered?
The CAREC University Startup Generator Competition does not set any restrictions on the discipline/subject field of the participants.
14. How will the winners be selected?
A board of judges will evaluate them using the following criteria:
- Innovativeness (20%): How innovative is the idea? Has the team proposed a significantly improved or entirely new solution for the selected problem?
- Sustainability and Social Impact (20%): Does it address social or environmental challenges effectively? Would this solution contribute to the community and sustainability?
- Market Potential (20%): Is the solution scalable? Is there potential for widespread impact? Can it be replicated and adapted to another market?
- Presentation Quality (20%): Are the problem and solution clearly articulated? Is the presentation compelling and engaging?
- Team Coordination (20%): Does the team possess the necessary skillset and capacity? Is the team diverse in terms of gender and expertise?
15. Will there be 3 winners amongst all categories OR will each category have 3 winners?
We will select only 3 winners amongst the two categories.
16. What will I gain from participating in the competition?
- Acquire practical skills through generating business-oriented solutions to real-world challenges.
- Connect with entrepreneurs, investors, trainers, and other startup ecosystem stakeholders.
- Win prizes and potential financial support to bring your idea to reality.
- Receive mentorship and training from international startup experts.
- Gain international experience by collaborating with students from ten CAREC countries.
17. What kind of materials are needed to prepare for the competition?
Please submit every task in English, in PDF format.
To get a chance to be selected to present during the Demo Day, all teams need to submit a pitch deck (PDF format). The team can also submit a business plan (Word format) or a one-minute video as an optional supplement. All documents submitted should be in English.
18. What language should I use in the competition?
All entry materials should be in English. During the Demo Day presentation, all finalist teams are required to present their project and do the question & answer with the judges in English.
19. What kind of tasks should I expect during the challenge?
Practical tasks based on the training provided will be given to the participants to guide them in developing their ideas step by step.
20. How will I receive tasks and where to submit my deliverables?
The organizing committee will send announcements by email and messages on the platform. To submit your deliverables, please login to the Challenge page and submit it on the designated area as guided in the announcement.
21. How to access the weekly Tasks & Deliverables?
The organizing committee will send announcements by email and messages on the platform.
22.Will my intellectual property rights be protected?
All entry materials will be accessible only to authorized staffs of the competition and the judges we invite, all of whom will sign a confidentiality agreement with us. We will not disclose anything about your project without your consent.
23. I am having issues registering/submitting my application. What should I do? ?
Please take a screenshot and message the Admin using the messaging platform on your Participant’s dashboard. If you cannot access the system, please send the screenshot with the question description to ssu1.consultant@adb.org.