Thinking Caps On!
Entry to this year's competition has now closed.
The New Ideas Competition gives you the chance to win £1500 for your idea for a new product, business or social enterprise, and take your idea from concept to creation.
All you need to enter is an idea. It doesn’t need to be well developed and you don’t need a plan for starting up.
What you do need is an idea for a real business opportunity, and the commitment to take it to the next stage in starting-up and turning it into a real venture.
Don’t worry if you don’t know a lot about business. That’s what we’re here for. If you have an idea for a great product, service, or a way to make the world a better place and the determination to succeed, we will help you develop your business know-how and show you how to turn a good idea into a brilliant business.
Download the complete New Ideas Competition Guidelines here (pdf).
The New Ideas Competition is sponsored by:
New: Six Categories
For the first time SIE has introduced six categories into the competition. Your idea will be judged according to specific category criteria, with more opportunities to win cash prizes:
- Arts &Cultural Enterprise: A business that’s primary product/offering is related to artistic, musical, theatrical, dramatic or cultural endeavour.
- E-Commerce & Retail Business: A business whose focus is on the sale of products or goods through either a physical or online environment or direct to the customer. This would also include cafés, restaurants and other food outlets.
- Product Based Business: A business that is based around a the commercialisation of a new product or products developed by the founders of the business.
- Science, Technology, Engineering Business (including Software): A business that has a significant level of scientific/technological know-how at the heart of its’ offering. This is likely to come from academic research or an area or expertise of the founder or team.
- Service Business: A business that provides a distinct service offering to either the public or other businesses. This service is likely to make use of the knowledge and/or expertise of the team. This would include web development, web design, product design and any kinds of consultancy.
- Social Enterprise: a sustainable enterprise which employs at least its main staff, and is operated on sound business principles in order to benefit a social or environmental causes with the main goal of reinvesting some or all of its profits for the benefit of the cause, rather than for the purpose of wealth generation. The business might be any of the above types of business but should be included in this category if the primary reason for the business is to create profit and donate a significant portion or all of it to long term social or environmental benefits.