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£30k prize for new business ideas

Press release issued: 8 December 2003

RED has now launched the University's 2004 New Enterprise Competition.

RED has now launched the University's 2004 new Enterprise Competition.  If you have a great business idea you could win a share of the prize fund worth over £30,000 to help make your idea a commercial success.

All business ideas are eligible (not just science and technology-based ideas), but the judges will be looking for growth potential.  The competition is open to University students, researchers, staff and recent alumni and is designed to inspire entrepreneurial talent and to stimulate new high-growth businesses. The total prize fund is worth over £30,000 and there will be a special cash prize for the best entry led by an undergraduate student. The student prize is a reward for demonstrating entrepreneurial potential and comes with no strings attached, however, cash prizes awarded in the main competition are intended for business use*.  Participation across the University is encouraged and multidisciplinary teams are welcomed.

To enter the competition, you must submit an official entry form outlining your business idea, by 30 January 2004. The best entries, as judged by the sponsors, will then be invited to submit full business plans by 28 April 2004. At this stage you will have access to the invaluable expertise of our sponsors to help you prepare your full business plan. Competition winners will be announced at the prestigious Enterprise Dinner in July 2004.

If you would like help now in developing your idea you can book a Business Advice Surgery appointment by sending an email to Surgeries are free and provide confidential, one-to-one expert advice.

The New Enterprise Competition is sponsored by: Bankside, Fortis Bank, STMicroelectronics, Osborne Clarke, Deloitte & Touche and Sulis Innovation.

* Cash prizes, other than the undergraduate prize, will be audited to ensure funds are put to business use.
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