$100k Challenge for Researchers

Frequently asked questions

Below you will find answers to various frequently asked questions regarding entering the Velocity $100k Challenge as a researcher.

For any further questions please contact Velocity Programme Coordinator, Kirsten Beckman, at kirsten.beckman@auckland.ac.nz

Can I enter as a team?

Absolutely. Some people enter the Velocity $100k Challenge on their own, however it is easier to start a business as part of a team. Some PhD candidates have entered with their supervisor, peers or people from outside of the University. Velocity teams must have at least one staff member or student on board to be eligible to enter.

Does entering the $100k Challenge with my research mean I lose the opportunity to patent it?

Entering into the $100k Challenge does count as public disclosure, so it is essential that you submit your idea to UniServices (the University’s not-for-profit company) for free, non-obligation advice before entering. UniServices are strong supporters of the Velocity programme and will work with you to get you to a place where you can enter your idea into the competition, while protecting your idea. Email your questions to ip@uniservices.co.nz.

Learn about Intellectual Property.

Does the University get a share of my venture, if it is based on my University research?

For postgraduate students, researchers and staff – if you venture idea was created using your university research you will be invited to share in the revenue created from your invention. The revenues are usually shared with UniServices and the staff’s University Department. For non-obligation advice before entering you can email your questions to ip@uniservices.co.nz

I am a busy person - why also do this?

Most researchers want to see their research used for good and shared with a wide audience. Entering into the $100k Challenge makes that a real possibility. Previous participants have made connections with other academics, both in New Zealand and internationally, benefitting their research. You will learn a whole host of new skills around articulating your research and giving it a practical application. In addition, the winners of the competition receive publicity, leading to more visibility of the research.

$100k Challenge Workshop

Take your entry to the next level