The University of Queensland (UQ) is offering a $100,000 prize to the emerging Australian entrepreneur that delivers the most innovative business plan.
UQ Academic Dean and Head of Business Professor Iain Watson expects Enterprize 2011 to draw a record number of entries, as interest in the competition grows.
“We’ve had an extraordinary and diverse range of smart ideas and business models put forward over the years, and we are proud to reward the best with $100,000 in seed capital,” he said.
Since its inception in 2001, the UQ Business School Enterprize competition has showcased dozens of innovative ideas and products to potential investors and provided seed capital to promising start-up ventures, including:
- 2010 winner, Melbourne-based Southern Innovation, which hopes to see its revolutionary digital pulse processing technology SI-TORO used in X-rays. CT scanners and drug detection equipment before the year’s end.
- 2009 winner CoolMe, a disposable, lightweight vest which creates an intense cooling effect, to ease heat stress suffered by firefighters and others working in extreme conditions.
Enterprize 2011 entrants must submit their concept plans by 22 July, with finalists to be announced in August.
Finalists will be given the opportunity to impress the judges, venture capitalists and angel investors at a ‘Pitch Day’ in October, when the winner will be chosen.
The five judges this year are: Manager of Venture Capital Attraction, Invest Queensland, Department of State Development & Trade, Stewart Gow; NBC Capital Managing Director & Chief Investment Officer Bruce Scott; OneVentures General Partner Anne-Marie Birkill; Southern Cross Venture Partners Founding Manager Bob Christiansen; and Chief Executive Officer of i.lab, Colin Kinner.
To enter or find out more information about the Enterprize competition, visit: www.business.uq.edu.au/enterprize