Royal Academy of Engineering Launchpad Competition 2019/2020 (£15,000 equity-free cash prize)
Deadline: September 2, 2019
Are you aged 18-25 and have a winning business idea? The Royal Academy of Engineering’s Enterprise Hub helps aspiring engineering entrepreneurs turn their ideas into reality. Apply to the Launchpad Competition 2019/2020 now for a chance to win £15,000 cash and expert advice.
Each year the Royal Academy of Engineering helps one budding engineering entrepreneur to start a business based on their engineering innovation. Over the 12 month programme RaEng focuses on equipping the awardee with the confidence, skills, experience and network of expert advisors necessary to enable them to develop their innovation. The most successful awardees will then serve as role models to inspire the next generation of aspiring entrepreneurs, passing on the skills they have gained.
The winner will receive
- The JC Gammon Award
- £15,000 equity-free cash prize
- Lifetime membership of the Enterprise Hub
- Applications are invited from individuals or small teams demonstrating entrepreneurial promise
- They encourage applications from women and other groups who are underrepresented in the engineering and startup community
- The lead applicant must be UK-based and between the ages of 18 to 25 on 24 October 2019
- The lead applicant should intend to play the leading role in the development of the business, such as CEO or CTO
- You do not need to have a degree
- The proposed technology/service must be an innovation or invention in engineering and/or technology. Engineering is defined broadly, including, but not limited to software, design, energy, cleantech, materials and medical devices
- It can be a social enterprise, although this is not essential and you should intend for it to become self-sustaining
- You should have identified a viable and commercial business proposition with a large market opportunity. You may not yet know how to realise it – they can help with that
- You should be aiming to set up a business within the next 12 months
- The initial product or service idea must have reached at least the ‘proof of concept’ stage – i.e. it has been shown to work under test conditions, for example with a basic prototype. So you know it works and is not just a theory
- You do not need to have received investment, funding or orders already
- The Academy is committed to diversity and welcomes applications from women and other groups currently underrepresented across engineering and the startup community
- The applicant must have been directly involved in the development of the invention or innovation, and may be a gadget they designed.