Amazon Launchpad Innovation Awards, given the success of the 2021 edition, is hosting the contest again this year. Thanks to the €100.000 first place prize money , it will allow the winning ‘Startup of the year’ to accelerate the pace of its business development and growth. The initiative is reserved to companies that develop innovative products capable of improving the quality of daily life and who dream of gaining greater visibility on the international scenario. Let’s take a look at the prizes and how to apply for the contest.
What do you win: Prizes
The winner of the contest gets 100,000 euros to invest in the company’s research and development activities. They are also granted free access to Amazon Launchpad for one year. Furthermore, they get the same prizes that are also provided for the top 20 finalists. Namely, they obtain the customized Seller Spotlight placement on the Amazon Launchpad landing page as well as the right to use the Awards logo and the Amazon Launchpad Innovation Awards trophy. The same prizes reserved for the top 20 will also be granted to the best local startups.
What you need to participate: Requirements
The requirements to participate are quite easy to verify and comply with. All you need to do is make sure that:
- your company is registered in an EEA (European Economic Area) country, the United Kingdom or Switzerland
- you sell a physical product directly to consumers and not to other companies. (Therefore, companies offering B2B products cannot participate).
- your company is the brand owner of the candidate product
- your company is an SME with less than 250 employees and a total annual turnover of less than €50 million and/or a total annual balance sheet not exceeding €43 million at the time of application.
What are the deadlines: Dates to mark on your calendar
Applications for the contest are already open and will remain so until May 29, 2022. The winner and finalists will be announced on September 8, 2022.
How to participate: Tender procedure
Participating is very simple. After making sure that you meet all the requirements set by the contest rules, you can click on this button to apply. In case you are one of the finalists, you will be notified before June 7, 2022. You will then need to submit two samples of your product within July 12, 2022.
Keep in mind that your product does not necessarily have to be on Amazon and Amazon Launchpad to participate. However, in order to have the free one-year access to the initiative and obtain a Seller Spotlight placement you will eventually need to register as an Amazon seller and consent to the Amazon Services Europe Business Solutions agreement.
How products are judged: Selection criteria
The products are judged by a panel of experts on the basis of certain criteria. They will evaluate elements such as the aesthetics and the design of the product, the aspects of social, ecological and economic sustainability of the product as well as its uniqueness and differentiation.
So, if you think your product has what it takes to participate, and maybe even win the €100.000, hurry up and don’t miss this great opportunity for your business!