IDDEA Award 2021: registrations now open!

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The particularity of the IDDEA Award is that it is intended for any person with an idea and who wishes to develop a sustainable and innovative business in the Canton of Geneva. No specific business administration knowledge is required. Applications are submitted by means of a short online questionnaire. Only the criteria of sustainability and viability are required to be selected. “The application process is extremely simple as it does not require a formal business model or plan, which can often represent an obstacle for candidates with no economic training,” explains Christophe Barman, Chairman of the Organisation Committee.

Six months’ training offered to the candidates selected

Of the applications received, 15 will be selected and the successful candidates will be given 6 months’ fully-funded training, thanks to the support of the Awards partners. This training programme will enable them to transform their idea into a genuine business plan. The topics addressed during this training include choosing a business model, studying the market and preparing a financial plan or communication strategy. The applicants will also have the opportunity to participate in three “speed-mentoring” evenings which will enable them to discuss very specific problems with experts in the field and to grow their network while sharing their experience with other entrepreneurs just starting out. “The strength of the IDDEA Award lies in its ability to bring candidates from different backgrounds together around the same values of sustainable entrepreneurship,” adds Christophe Barman.

Four awards to help launch your business

At the end of this training, the candidates are required to submit a business plan. A jury then selects the three projects with the best social and ecological impact while promising good economic potential. These three projects will be awarded the following prizes: a 1st prize of CHF 20,000 offered by the City of Geneva; a 2nd prize of CHF 10,000 offered by FER Genève and a 3rd prize of CHF 5,000 offered by the SIG. The public will award a fourth prize of CHF 2,500, offered by Ecoservices, on the occasion of a gala evening to be held at the end of November.

A special “Geneva, City of Taste” prize

In addition to the four traditional prizes awarded every year, a special “Geneva, City of Taste” award will be presented to the best project in the field of sustainable agriculture and/or food. Over the coming months, particular emphasis will be placed on “healthy eating”, as Geneva has been named “City of Taste” in 2021 by the Foundation for the Promotion of Taste. According to Alfonso Gomez, Administrative Councillor in the City of Geneva responsible for sustainable development, “It is an excellent opportunity to foster the creation of projects in the field of sustainable food. It is an essential aspect of the ecological and social transition that we must implement as quickly as possible”.