Frequently Asked Questions
Q: What industries does this competition encompass?
A: Cymothoe Initiative BlueTech Competition is a business skills acceleration challenge that focuses on technology startups. We welcome applications from ventures in various sectors, including Software, Computer & Electronics, Internet & Web, Nanotechnology & Materials, Machinery, Biotechnology, Energy, Telecommunications, Transportation, and other Technologies, with solutions that can be marketable in industries such as
- Shipping / Ports
- Marine transport
- Marine construction
- Offshore oil / gas
- Marine / Coastal tourism
- Seabed mining
- Offshore renewables
- Business services
- Hightech marine services
- Marine R&D
- Safety & Surveillance
Q: Who serve as judges for the Cymothoe Initiative BlueTech Competition?
A: Judges for the competition are meticulously chosen individuals, both local and international, possessing relevant experience and expertise. This diverse panel includes venture capitalists, angel investors, lawyers, entrepreneurs, business executives, academics, and other accomplished and knowledgeable business leaders.
Q: How many judges evaluate my application?
A: Each application is reviewed by three judges selected from a pool of experts whose knowledge aligns with the specific field of interest in the application. Judges are tasked with providing impartial feedback to determine the teams advancing to the second round.
Q: What are the key judging criteria for application reviews?
A: Judges evaluate applications based on various criteria, including the effectiveness of technology utilization, proof of concept (working prototype or service), level of innovation, market knowledge, market fit, team background, expertise, and the company’s growth potential in the global market. Each judge’s score carries equal weight, and the final selection hinges on the business’s viability and likely success.
Q: Must all team members be scientists or researchers?
A: Building a successful startup requires diverse skills and disciplines. It is strongly recommended to form a well-rounded team with members covering multiple backgrounds. Including individuals with business expertise (marketing, economics, sales, etc.) on your team or Advisory Board significantly enhances your application.
Q: Who are the mentors, and when can I access them?
A: In the second round, each semifinalist will be paired with three mentors from the business or academic community to enhance team performance before the final judging round. These mentors, with expertise in various disciplines such as finance, legal, business operations, communication, and marketing, guide semifinalists in refining aspects of their ventures.
Q: What topics do the workshops cover, and is attendance mandatory?
A: Semifinalists have the opportunity to engage in diverse online meetings and/or workshops that aid in developing and refining various aspects of their ventures. Topics focus on business skills, covering areas such as legal matters, finance, tax considerations, pitching, human resources, communication, and marketing. At least one team member is required to participate in each workshop.
Q: How is Confidentiality & Intellectual Property addressed?
A: Participants should thoroughly review the Rules & Terms of Participation before entering the competition. Judges and mentors do not sign non-disclosure agreements, so it is crucial to assume that any information submitted is not protected. Participants should present information without compromising their intellectual property protection strategy, understanding that judges and mentors are experienced professionals who respect the confidential nature of the information.
Q: How will I be informed of my application status?
A: All applicants will receive electronic feedback. Semifinalists will receive direct notifications and be publicly announced on the competition platform and Cymothoe Initiative website, cymothoe.gr.
Q: How can I stay updated on the competition or Cymothoe Initiative?
A: Eligible teams can regularly visit cymothoe.gr for updates on the competition. For additional inquiries, please contact Mr. Nicholas Argyros at email@example.com.