The Massey Innovation Prize:
The Massey Innovation Prize (MIP) is a competition run by Massey Ventures Ltd.
Applications are open to Massey University academic and general staff to submit their commercially prospective ideas, innovation or technologies.
Applications close on 22nd of August 2021, at 11:59 PM. Submissions received after this time are ineligible.
Successful applications will be invited to present their idea at the Massey Innovation Prize finals to a panel of judges.
The judges will assess ideas based on their commercial potential and select a winner.
The winner will receive $50,000 of seed funding from MVL in line with the Massey University Intellectual Property Policy and the Massey Ventures' Staff or Student commercialisation agreement to research and develop their idea, innovation, or technology further.
At least one applicant must be employed at Massey University as academic or general staff or enrolled as a Massey University Student.
There is no limit on the number of applicants per application.
Applicants can submit multiple applications, providing that each idea is materially different.
Applications relating to a technology that has already received investment from Massey Ventures Limited are not eligible to enter the MIP unless there is a materially different application or aspect presented.
Award of the grant money:
$50,000 in seed investment will be made available to the winning participant(s) as research funding to be used against mutually agreed development milestones in line with the Massey University Intellectual Property Policy.
Access to additional investment is available through Massey Ventures via the PreSeed Accelerator fund of up to $250,000 provided the project has made satisfactory progress.
Funding may be amended, withheld, or withdrawn, at Massey Ventures Ltd’s sole discretion for any of the following reasons:
- The idea, innovation, or technology no longer shows commercial potential.
- The project team has not made satisfactory progress toward the agreed upon milestones.
All applications are confidential and will not be shared with other competitors or third parties without prior consent from the applicants. Judges will be bound by confidentiality, as will potential invited observers.