If you think you have a brilliant idea for creating a business from your research, here’s your opportunity to get it off the ground.
For the past few years Cambridge Enterprise and the Entrepreneurial Postdocs of Cambridge (EPOC) have joined forces to run an annual business plan competition for University of Cambridge postdocs. Today the competition opens for entry and we hope you’ll take part.
The competition gives postdocs the chance to win early stage funding for their business ideas. There are three prizes: £20,000 investment for the first place winner, £10,000 investment for the second and £5,000 for the third.
It’s not just about the prizes. Entering the competition teaches you about academic entrepreneurship. You’ll receive expert advice on shaping and refining your business plan. Semi-finalists are coached on how to pitch to investors and matched with a seasoned mentor from Cambridge Enterprise’s wide network.
To enter, postdocs submit a business plan outlining their idea. The details are all in the competition handbook and further information can be found on the competition webpage. Projects must be led by a current postdoc of the University or have a majority of team members who are current postdocs of the University.
If you’re unfamiliar with how to write a business plan or would like help to talk through your idea, please come along to one of our workshops on how to write a business plan with Adelina Chalmers, and then later, an introduction to business modelling with Ludo Chapman.
Cambridge Enterprise shall also be hosting weekly informal surgeries at the Hauser Forum (West Cambridge), The Office of Postdoctoral Affairs (OPdA) on Mill Lane and the School of Clinical Medicine (click here for a full timetable). During the competition, if you would like to talk through your business idea, you can drop by any of these locations to discuss your queries with our colleagues.
The deadline for all entries is 14 July 2019 and the semi-finalists will be announced 29 July.
The semi-final judging round is 23 September to Friday 4 October. Finalists will be announced 7 October.
On 16 October the finalists will pitch to the judges in preparation for the Grand Finale on 31 October 2019 at Downing College. The Grand Finale gives contestants the experience of pitching before the judges and an audience.
Launch your business idea today.