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WHAT IS THE INNOVA PRIZE?

The Colombian Award for Business Innovation for Micro, Small and Medium Enterprises (Innova Prize) is a strategy of the Ministry of Commerce, Industry and Tourism to foster a culture towards innovation, which leads to greater productivity and competitiveness in the economic sectors of the country.

Likewise, it seeks to recognize and stimulate talent, applied research and entrepreneurial attitudes that allow the introduction of new processes and/or products, or the   modification thereof, within companies.

WHAT IS INNOVATION?

Innovation is understood to be the conception and implementation of significant changes in the product, process, marketing or organization of a company for the purpose of transforming them, gaining access to new markets, being more competitive and, in general, improving the results of the company (value generation). Innovative changes are made through the application of new knowledge and technology that can be developed internally, in external collaboration or acquired through advisory services.

WHO CAN PARTICIPATE IN THE INNOVA PRIZE?

Micro, Small and Medium Enterprises may participate, classified according to Decree 957 of 2019, under the items annual revenue items, as follows:

Microenterprise

• Manufacturing: from 0 to 23,563 UVT
• Services:  from 0 to 32,988 UVT
• Trade:  from 0 to 44,769 UVT

Small Business

• Manufacturing: from 23,564 to 204,995 UVT
• Services:  from 32,989 to 131,951 UVT
• Trade:  from 44,770 to 431,196 UVT

• from 204,996 to 1′ 736.565 UVT
• Services:  from 131,952 to 483.034 UVT
• Trade:  from 431,197 to 2 ‘ 160.692 UVT

Additionally natural or legal persons constituted legally in Colombia, of any economic sector that:

1. Tengan at least two (2) years of constitution to the date of filing of the application; or foreign companies that are in an international technological cooperation agreement.
2. They are generating sales from the innovation postulated.
3. They have not been subject to sanction by some authority, in administrative, fiscal, labor or environmental matters in the year preceding that of this call and in the course of their participation.
4. Cumplan with the profile defined in the category a
5. You will not be able to participate in companies that are in idea or prototyping stage.

Note: Entrepreneurs who have won the Innova Prize in previous editions will be able to participate again as long as the innovation they are running with is new.

HOW IS THE PROCESS?

REGISTRATION/APPLICATION

To participate in the Innova Prize, companies will register, through their legal or proxy representative, by completing the application form in their entirety and attaching the documents as indicated in the call. The bid will be made through the official call page: www.premioinnova.gov.co.

ASSESSMENT

• FASE 1 -Validation of minimum requirements: Once the date of the call is closed, the compliance of the specified in “will be assessed”WHO CAN PARTICIPATE IN THE INNOVA PRIZE? “, requirements for the application contained in this document and defined criteria.
• PHASE 2 -Field visits: Based on the results of the validation of the phase 1 compliance, the MiPymes that meet the requirements, can be chosen by the Technical Committee of the prize to be visited by a technical evaluator, who will perform the validation of the information completed on the application form, checking and evaluating the impact of the innovation postulated.
• FASE 3 –  The finalists they must present their innovation to a group of jurors, who will recommend the winning companies for each of the categories.  
• PHASE 4 –  Grant: The award will be awarded by executive decree, by the president of the Republic and the Minister of Commerce, Industry and Tourism.

Note: The registration and evaluation processes will be performed in a virtual and/or in-person manner, this in consideration with the conditions caused by the public health situation of the COVID-19.

No postulations will be received in physical media, email or different channels to the official registration form of www.premioinnova.gov.co

FOR YOUR PARTICIPATION IT IS IMPORTANT TO UNDERSTAND

DIFFERENCE BETWEEN INNOVATION AND INVENTION:An invention is the creation of something new that does not reach the market. Innovation is the introduction of something novel in the market, generating value for companies and consumers, meeting the needs of the latter and/or society.

CATEGORIES AWARD INNOVA

  The definitions of the categories correspond to those outlined in the Oslo Manual.    

INNOVATION IN PRODUCT: Premia companies that, by introducing a new or significantly improved good in terms of its characteristics or in terms of its intended use, have allowed the company to grow in terms of sales. This definition includes the significant improvement of the technical characteristics, components and materials, integrated computing, ease of use or other functional characteristics, and with commercial validation in terms of sales.

innovation in services:Premia companies that, by introducing a new service, or significantly improved in terms of its characteristics or in terms of its intended use, have allowed the company to grow in terms of sales. This definition includes the significant improvement in the way these services are delivered (in terms of efficiency or speed, for example), the addition of new functions or features to existing services, or the introduction of entirely new services.

INNOVATION IN PRODUCTIVE PROCESSES: Premia companies that, by introducing a new, or significantly improved, production, distribution or logistics process, (developed within the company), has enabled the company to grow in terms of sales. This implies significant changes in the techniques, materials and/or software. This in order to increase their productivity, be it by decreasing production costs, less time use, greater flexibility and/or compliance with more demanding quality levels.

COMMERCIAL INNOVATION: Premia companies that, by introducing new methods for the marketing of their products or services, different from the traditionally used ones, that has allowed the growth of the company in terms of sales, new markets or position in the current market. This category does not include strengthening the corporate image or promotions of products or services.

INNOVATION: Premia companies that have sales from a new or significantly improved product or service. Likewise, that they are positively impacting in terms of one or more goals for sustainable development (SDG) of the United Nations Development Program (UNDP).

Clarification note: Understand sales as a transactional process of goods and services between a plaintiff and an offeror in exchange for a monetary resource, such that donations are not included as a sale.  

open innovation: Premia companies that have collaborative projects aligned with their corporate strategy (or with plans and objectives). strategic), which arise from the articulation with actors outside the company, such as universities, research centers, consumers, suppliers or any other that generate value to the organization or entity’s proposal.

SPECIAL ACKNOWLEDGEMENTS  

RECOGNITION OF EXTRAORDINARY BUSINESS GROWTH:  Premises the company that has grown rapidly, profitably and sustained over the last two years and above the sector to which it belongs. Recognition will be awarded to one of the winning companies in the categories listed above.  

RECOGNITION OF MENTALITY AND CULTURE: This recognition is given to companies that demonstrate how innovation has generated a continuous growth dynamic in both the company, its workers and its relationship with the environment, thus generating a culture and a mindset for innovation.

BENEFITS

The winners of the Innova Prize will receive the following benefits:

• National Government as one of the companies generating change towards competitiveness from innovation.
• Public recognition through means of communication as visibility mechanisms for your brand and company.
• Support to receive national and/or international technical assistance, aimed at strengthening its strategic, operational, technological, commercial or technical management, that facilitates its successful insertion and positioning in the national and international markets.
• Support for specialized training, sought with it strengthening of the capacidades competitive and in general the human talent of companies.
• Support to receive technical assistance in the management of intellectual property, aimed at protecting assets resulting from innovation.
• Support for the realization of strategic commercial and/or business and/or technological projects, which contribute to a greater positioning of the product or service in the national and/or international markets.

The benefits enunciated in this numeral will be in kind and in no case will be delivered in cash.