iPARK Business Plan Competition
iPARK Background iPARK Technology Hub (iPARK) has been at the forefront of national efforts to develop entrepreneurship and innovation through various support programs. Established in 2003, iPARK operations have included a technology incubator (iPARK), the Intellectual Property Commercialization Office (IPCO), Queen Rania Center for Entrepreneurship (QRCE), and Bedaya Business Angel Network (Bedaya). Today, iPARK is uniquely positioned as the first and only technology incubator and incubation management service provider, as well as the center of the Jordan Technology Transfer Network and the only provider of services related to the innovation in Jordan aimed at economic development, job creation, and entrepreneurship support. In 2015, iPARK sought to expand incubation operations inside the capital and nationwide, while providing the innovation ecosystem with the knowhow and network needed to generate tangible outcomes from innovation. iPARK has successfully expanded its operations to the King Hussein Business Park - Grow Building (iPARK@KHBP) and is currently incubating 14 companies simultaneously with 8 graduated. Beyond the expansion of incubation operations iPARK was able to develop and cement its work as a provider of incubation services; hence, enabling a rapid growth of the iPARK through partnerships. The first of these partnerships enabled iPARK to launch an incubation program in Irbid, serving the economically stressed areas of Irbid and Mafraq (iPARK@ShamalStart). Finally, with its successful approach so far, iPARK has now expanded its services and operations to the southern part of Jordan, Aqaba (iPARK@Aqaba). Aqaba has the potential of hosting a business and technical incubator for startups in the sectors of tourism, recreational services, professional services, multi-modal transportation, and other value-added industries. The incubator will aim to improve the entrepreneurship ecosystem among youth, engage the local community in the economic development, and enhance the opportunities for scalability and sustainability of small businesses. Business Plan Competition iPARK will launch a business plan competition for ventures based in Aqaba. This competition will incentivize the entrepreneurial community in Aqaba and across Jordan to view Aqaba as a suitable business environment and the incubator as a viable launch-pad.
WHO CAN APPLY?
• Anyone above 18 years old
• Registered companies serving Aqaba
• New ventures serving Aqaba-Jordan that are not yet registered
i. Participating university students or graduates who intend to use their university graduation or research projects must provide supervisor’s consent. Faculty members may be included in the team.
ii. Only teams will be accepted in the competition (no fewer than 2 team members). Individuals may apply but will not continue to participate and progress without adding team members during the initial stages.
1. The three top business ideas will be awarded, depending on their abilities to continue their business.
2. Awardees will be companies that will execute their winning business plan under the supervision of iPARK.
3. All winning teams will be invited to be pre-incubated at iPARK to further grow their ventures and become the future success stories of Jordan.
4. iPARK has the right to cancel any of the awards if the winning teams fail to show interest in starting the business and executing the business plan.
5. iPARK will set the awarding criteria, which will be informed to the applicants and judging panel.
6. iPARK may withhold all awards if no applicant achieves awarding level (criteria).