KGCCI INNOVATION AWARDS FAQ
What are the KGCCI Innovation Awards?
The Korean-German Chamber of Commerce and Industry is the representative of German Business in Korea and promotes trade and investment between Korea and Germany. Since 1981, we have worked to connect German and Korean companies and expand the level & fields of cooperation. We have about 500 members.
In 2015, KGCCI started the Innovation Awards to make great innovations made in Korea or for the Korean market known and to connect Korean and German innovators with each other.
What are the benefits of participating in the KGCCI Innovation Awards?
#Receive the award at the festive event
#Get media attention and public recognition
#Be introduced to KGCCI member companies and partners
#Leverage the KGCCI network towards Germany
#Enjoy one year of free KGCCI membership as a non-member company
Who is eligible to apply their products/services/processes?
All companies located in the Republic of Korea are qualified to apply for the award with an innovation for the Korean market.
Innovations made in the German headquarters, which are of special importance for the Korean market and have received a local touch, can be submitted for the awards as well via their subsidiaries in Korea.
Who will be evaluating the applications?
A high-ranking Korean-German jury made up of representatives from companies, research institutes and academia will evaluate the applications and come to a joint decision on the final winners.
What are the criteria for evaluation of the applications?
The jury will make their evaluation based on the following four criteria:
Degree of innovation
Novelty of the idea, creativity of the concept (e.g. breakthrough/radical versus line extension/incremental)
Proven in the market
Tangible market success, e.g. license fees, joint-development-activity, orders, sales
Influence on company
E.g. savings/synergies, better positioning of the company in the market, strategic move towards future markets; improved public image
Benefit for society
E.g. benefit for people’s health, education, the environment
And if you apply for the category “Women in Innovation”, the applicant needs to be a female entrepreneur or innovator.
What are the general conditions for participation?
Application is free of charge.
Your application has to be completed by the due date in order to be considered by the Jury.
The standards for and method of selecting winners are determined by KGCCI / KGCCI DEinternational Ltd.
– KGCCI / KGCCI DEinternational Ltd. may not select winners if there are no suitable candidates.
– Grant of an award may be cancelled if a winner is found to be disqualified because the materials submitted by the winner is not true and correct or by other reasons.
– KGCCI / KGCCI DEinternational Ltd. protect information of participants (including their executives and employees) and process the information to the extent of being necessary for evaluating participating companies and selecting winners for innovation awards in accordance with the Personal Information Protection Act and other applicable laws and regulations.
– KGCCI / KGCCI DEinternational Ltd. may use the company names and trademarks of the finalists and winners to promote KGCCI / KGCCI DEinternational Ltd. and the innovation awards with the consent of the finalists and winners.
For all questions please contact us by email: innovation(at)kgcci.com