If you‘ve been sitting on an incredible, innovative idea for a startup company, then this should inspire you to finally turn it into a reality.
An operation based in the UK, is offering a startup company a chance to win a whopping £1 million – or R15.05 million.
Not only will the winning company get the large cash prize, but they will also be given a “œsupport package“ with the intention of helping the winner grow their business into a £100 million net worth enterprise within the next five years.
The competition, called “˜Million Pound Startup‘ is being labelled as the the world‘s largest startup competition. The competition officially launched in May of this year and has already, over it‘s three month existence, attracted 303 entries.
These entries hail from 123 different cities in 43 different countries.
All entries will be viewed and then, in round two, only 200 will be selected for further assessment. In round two, the 200 applicants will need to provide the partners and investors with further details concerning their company, and then the finalists are decided.The eventual winner of the competition together with Digital Shoreditch, will gain support from prominent businesses and companies in the UK. These include: City University London, The City of London, London and Partners, London First, School for Startups, KPMG, Ketchum, Taylor Wessing and more.
An eventual winner is planned to be announced in December. But don‘t think the winner will be chosen lightly – Digital Shoreditch has said:
“œThe team involved in selecting the criteria and deciding are the investors and respected industry figures. The partners and investors, whom represent years‘ worth of expertise, experience and industry know-how, are looking for more than just financial return. They are pooling resources of creativity and innovation, industry expertise and contacts to accelerate the success of the winning business.“
Entrants will also need to be prepared to move their business headquarters to London – an opportunity any driven startup can only dream of.
Kim Star, the leader of the competition and founder of Digital Shoreditch said: “œNo matter where they are in the world, the competition will help the winning company to establish their headquarters in London and give them the support they need to grow exponentially“
If you are thinking of entering, you might want to check out your South African competition. There has thus far been 3 entries from South Africa:
The first, “˜HowZit‘, is a social beeper “œthat shifts business and consumer to interact“
Secondly, “˜Blue Republic Artesian Water‘, is artesian water designed for the earth conscious opulence seeker.
And your last competition is called “˜Cloud Canteen‘. This is an online service that provides a collaborative platform for people who find themselves in organized clusters like schools, organizations, companies and such to buy, rent, sell, swap and donate stuff by leveraging on a system that empowers and rewards the customers.
If you feel that your idea will change the world and you have what it takes to make it in a cut-throat business world, then send in your entry today!
The deadline for all entries is 31 August, so hurry, you might become a multi-millionaire living in luxurious London!
You can enter online and check out their website at www.millionpoundstartup.com
Source: Businesstech.co.za
