The competition is open to all University staff and students as well as graduates from the past five years. The emphasis of the competition is on great ideas that create real commercial and/or social value. Winners get expert advice, mentoring and a share of a prize fund in excess of £35,000. The 2009 winners included both staff and student teams, and commercial as well as social enterprises.

Entrants must submit an outline of their business idea by 23 February 2010. The best entries, as judged by a panel of experts, will then be invited to submit full business plans. The winners, to be announced at the prestigious Enterprise Dinner in the summer of 2010, will be awarded cash prizes and support to help bring their ideas to the marketplace.

Further information, including details of the free launch event to be held on Thursday 19 November, can be found on the RED website.