Record prize fund to help start-ups get down to business

A record-high prize fund is on offer to help budding entrepreneurs at the University of Dundee launch their own business.

A pot of £31,000 is available to the winners of Venture 2020, a competition to support the best start-up business ideas from University students, staff and recent graduates.

Organised by the University’s Centre for Entrepreneurship, submissions will be judged by some of the city’s leading business minds, with seven funding awards up for grabs.

Brian McNicoll, Head of the Centre for Entrepreneurship, said, “The University is a creative and dynamic environment for creating new business, which is highlighted every year by the quality of submissions that we receive for this competition.

“Many people aspire to start a business of their own and winning Venture can allow these dreams to be turned into a reality. An innovative idea is all that it takes to get started, and if our expert panel of judges like what they hear then you too can join our list of previous winners who are beginning to fulfil their own career goals.”

Entrants are asked to submit an initial online application, outlining their business idea. Those selected to proceed to the Venture final will then be asked to enter a second, detailed submission ahead of the live final, where competitors will make a pitch before the judging panel and public.

This year’s prize fund is the largest in the history of the competition, with entrants competing for cash prizes across six categories. A further £5,000 prize, courtesy of sponsors DC Thomson and Elevator, will also be awarded at the discretion of the judging panel, based on performance at the live final. Category winners will be offered three-month placements on Elevator’s Dundee Accelerator Programme, while further prizes include memberships of the Entrepreneurial Scotland network and Apple iPads.

Further details are available via the Venture competition website. The deadline for submissions is Tuesday 4 February.