{"id":104441,"date":"2019-11-26T17:54:45","date_gmt":"2019-11-26T17:54:45","guid":{"rendered":"https:\/\/news.microsoft.com\/?p=435424"},"modified":"2019-11-26T17:54:45","modified_gmt":"2019-11-26T17:54:45","slug":"preparing-to-compete-in-the-2020-imagine-cup-check-out-these-business-and-innovation-tips","status":"publish","type":"post","link":"https:\/\/sickgaming.net\/blog\/2019\/11\/26\/preparing-to-compete-in-the-2020-imagine-cup-check-out-these-business-and-innovation-tips\/","title":{"rendered":"Preparing to compete in the 2020 Imagine Cup? Check out these business and innovation tips"},"content":{"rendered":"

\"GIST<\/span><\/span><\/i><\/p>\n

Editor\u2019s note: This blog was contributed by the U.S. Department of Global Innovation through Science and Technology (GIST)<\/span><\/i>. <\/span><\/i>GIST<\/span><\/i><\/a> is led by the U.S. Department of State and implemented by <\/span><\/i>VentureWell<\/span><\/i><\/a>. <\/span><\/i> <\/span><\/p>\n

Microsoft\u2019s Imagine Cup empowers student\u202fdevelopers and aspiring entrepreneurs from all academic backgrounds to bring an idea to life with technology. Through\u202fcompetition and collaboration,\u202fit provides an opportunity to develop an\u202fapplication, create a business plan,\u202fand gain a keen understanding of what<\/span>\u2019<\/span>s needed to bring a\u202fconcept to market\u202fto make an impact.<\/span>\u202f<\/span>We\u2019ve partnered with<\/span> <\/span>GIST<\/span><\/a> <\/span>to <\/span>provid<\/span>e<\/span> <\/span>some <\/span>top tips for turning <\/span>your<\/span> idea into a marketable business solution<\/span> <\/span>and prepare you to<\/span> <\/span>present it effectively on a global stage.<\/span> <\/span><\/p>\n

Key things to <\/span><\/strong>consider <\/span><\/strong>when developing a business idea<\/span><\/strong><\/span><\/p>\n

1. Assess whether your product is truly novel<\/span><\/strong> <\/span><\/p>\n

In <\/span>the<\/span> early development stages of a new idea, it\u2019s important to assess whether your <\/span>idea<\/span> already exists in the current market and if so, what <\/span>unique solution your application can provide.<\/span> <\/span><\/p>\n

In the world of intellectual property law, \u201cprior art\u201d is the term used for relevant information that was publicly available before a patent claim. For example, if your company is working on a new type of football helmet, but another company has already given an interview about their own plans to invent such a helmet, that constitutes prior art \u2013 and it means your patent claim is likely to face a steep uphill battle. Start by asking yourself<\/span> <\/span>if your project is truly novel<\/span><\/a>. <\/span>What problem does your application solve?  Are there similar solutions already on the market? I<\/span>f necessary, work with your university to establish if a patent already exists. <\/span><\/p>\n

2.<\/strong> <\/span>Learn to take feedback <\/span><\/strong> <\/span><\/p>\n

It\u2019s easy to get attached to an invention. However, being too lovestruck with your technology can prevent you from absorbing vital feedback from customers, professors, mentors, even teammates. \u201cFeedback is learning,\u201d says<\/span> <\/span>Dr. Lawrence Neeley<\/span><\/a>, Associate Professor of Design and Entrepreneurship at Olin College of Engineering<\/span>. <\/span>\u201cSure, feedback can hurt, but understand that you can\u2019t improve your invention without learning what\u2019s wrong with it. Feedback is a mechanism for growth.\u201d<\/span> <\/span>In addition, don\u2019t lose sight of the passion that originally drove you to <\/span>developing a <\/span>solution<\/span>, as it<\/span> can put you in the right mindset to listen to feedback. By keeping <\/span>the core problem <\/span>at the forefront, <\/span>you<\/span> can<\/span> more effectively pivot your technology and business model to better address market demands. <\/span>Read more<\/span><\/a> about how to balance your passion with real-life data to make your project shine.<\/span><\/p>\n

3. Incorporate d<\/span><\/strong>iversity & <\/span><\/strong>i<\/span><\/strong>nclusion<\/span><\/strong> <\/span><\/p>\n

Empower everyone to benefit from your solution by considering diversity and inclusion in your project early on. <\/span>\u201cWhen accessibility is at the heart of inclusive design, we not only make technology that is accessible for people with disabilities, we invest in the future of natural user interface design and improved usability for everyone,\u201d says<\/span> <\/span><\/i>Megan Lawrence, an Accessibility Technical Evangelist at Microsoft. Check out some resources to help you build inclusion into your innovation: <\/p>\n