Business Plan Competition has €16,000 in cash prizes up for grabs

7 Jun 2017

Image: igorstevanovic/Shutterstock

Young entrepreneurs have less than a week to submit tech proposals at pre-investment stage for NDRC and the Ireland Funds’ Business Plan Competition.

NDRC and the Ireland Funds are offering a top cash prize of €10,000 for the overall winner of a Business Plan Competition designed to nurture young entrepreneurs under 35.

The second prize is €5,000 and the third prize is €1,000.

‘Ireland boasts a thriving start up scene, with initiatives popping up across the country’

Future Human

Now in its sixth year, the Business Plan Competition is offering funding and mentoring to emerging entrepreneurs under 35.

The competition is accepting pre-investment stage tech proposals until 13 June. To take part, applications can be made online here.

Process and precedence

Up to 10 individuals or teams will be selected to take part in three days of workshops to bring their ideas from concept to pitch. Throughout the process, they will receive mentoring and feedback.

“Growing a culture of digital entrepreneurship is a key goal of NDRC and a competiton like this is a great way to start stimulating those individuals and teams who may have a good idea but are not sure of its potential,” said NDRC commercial director Gary Leyden.

The competition aims to nurture creativity and hone entrepreneurial skills among emerging and early stage entrepreneurs.

It has precedence in establishing young entrepreneurs.

2016 winner Sothic BioScience has been travelling around Europe meeting investors. It is currently submitting a proposal for Horizon 2020 SME instrument funding.

Second runner up GlowDx is working towards a 2019 launch in Latin America. Its goal is to revolutionise how infectious diseases are treated in developing countries, with modern molecular diagnostics.

Unituition, which came third in 2016, now has hundreds of tutors across Ireland, and it is growing month-on-month.

“Ireland boasts a thriving start up scene, with initiatives popping up across the country,” said Bill McKiernan, president at WSM Capital and founder of CyberSource.

“The Business Plan Competition aims to hone skills amongst budding young entrepreneurs who play a crucial role in developing local industries, attracting investors and creating jobs in Ireland.”

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years