Engineering entrepreneurs have the opportunity to apply for £15,000 plus the training required to help them develop the skills to turn their engineering innovation into a business.
The Launchpad Competition at the Royal Academy of Engineering’s Enterprise Hub is now open for applications.
The winner of the competition will also gain membership to the Academy’s Enterprise Hub where they will receive advice and mentoring from a network of specialists.
- Applications should be individuals who demonstrate entrepreneurial ability and aspirations within engineering innovation
- They must be UK-based and between the ages of 18-25 on the date of the submission deadline (10 September)
- Candidates should intend to play the leading role in the development of the business
Candidates project proposals
- Applicants should have a viable and commercial business proposition with a large market opportunity
- The proposed technology or service must be an innovation or invention in engineering and/or technology
- Applicants should be aiming to set up a business within the next 12 months
- The feasibility of the initial product or service idea must have reached proof of concept level or above, and so have been proven – i.e. it has been shown to work under test conditions
- The applicant must have been directly involved in the development of the invention or innovation
Over the 12-month programme, the Enterprise Hub focuses on equipping the young entrepreneur with the confidence, skills, experience and network of expert advisers necessary to enable them to develop their engineering innovation.
The most successful winners will then serve as role models to inspire the next generation of aspiring entrepreneurs, passing on the skills they have gained.