Applications are now open for the Young Entrepreneurs Challenge, the challenge brought to you by Unloc and Verizon is an online entrepreneurship competition looking for people aged 16 to 25, with fresh and innovative technology-led business ideas.
Young Entrepreneurs Challenge is reaching out to a Pan-European audience in search for a great new start-up business.
To enter the Challenge, all you need to do is submit a 60-second pitch video on the competition website. Five finalists are selected for the Grand Final based on the key competition criteria; viability, technology innovation and sustainability.
Applicants will compete to win the overall prize at the grand final:
- £10,000/€11,000* of funding for their start-up business;
- A mentorship package to accelerate their idea;
- Finalist runners up will receive £1,000 of funding for their start-up business.
- Applications will only be accepted from:
- Individuals between the ages of 16 and 25 years on the 1st February 2021.
- Residents and/or citizens of a mainland European country.
- Immediate family members of the judging panel are not eligible to apply.
- Previous entrants who attended the Grand Final are not eligible to apply.
- Business proposals must meet the following criteria:
- Be legal in all mainland European countries.
- Be either a pre-start (not yet trading); or not have been trading for more than 3 years and have an annual turnover of less than £100,000 on 1st February 2021.
- Not have the purpose of political lobbying.
- Be the applicant’s own idea and not infringe on the copyright, patent or intellectual property of others.
- Can the plan achieve what it states it will do?
- Does it operate within the budget/resources currently held or will Acquire?
- Is the idea investment-ready? How will you use the funding if successful?
- Technology innovation
- Is the idea unique?
- Does it have a clear unique selling point?
- Is technology solving the problem in a creative way or fulfilling a gap in the market?
- Sustainability: Will the venture:
- Improve people’s lives in some way?
- Meet social or community needs in a new way?
- Does it meet or sustain a UN SDG in some way?
For more information, visit https://unloc.org.uk/unloc-and-verizon-announce-return-of-european-entrepreneurship-competition/