The Royal Academy of Engineering invites applications for its launchpad competition. Funding aims to encourage young entrepreneurs to start a new business based on their innovation in engineering or technology, with engineering defined in its broadest sense. The competition aims to:
•improve the skills of the awardee:
•develop role models of entrepreneurship;
•bring engineering innovations to market for a wider public benefit.
Applications are open to individuals or small teams. The lead applicant must be UK-based and aged between 16 and 25. They should have a viable and commercial business proposition with a large market opportunity, and be planning to set up a business within the 18 months following the application deadline. The feasibility of the initial product or service must have been proven preferably with a basic prototype.
The winner receives the JG Gammon award, which includes a cash prize of £15,000 and a year’s membership of the enterprise hub. This provides mentoring, training and networking opportunities with UK entrepreneurs and investors. Up to two other individuals or teams may be chosen as runners up.
Click here for more information on support for entrepreneurs.
Click here for more information on the launchpad competition – now live !