Bright Ideas Awards
The Bright Ideas Awards help fledgling UCL student companies get the key funding that they need to grow.
Are you an entrepreneur with a great idea or fledgling company and looking for start-up capital? If so, the Bright Ideas Awards might be right up your street.
Are you a new company searching for your first round of funding? The Bright Ideas Awards might be just what you’re looking for.
Launched in 2008, The Bright Ideas Awards aim to bridge the gap many new companies find themselves in when they search for their first funding. This can be a problem in the university context, where businesses might have a seed of an idea or emerge from unconventional beginnings, but are not yet ready for venture capital investment.
A total of £100,000 in funding is available to share between new businesses. It’s specifically allocated to businesses that can show they can reach the next crucial milestone in their development through this funding, whether it’s creating a prototype or using it to land their first customer.
Along with the prize money, winners gain access to intensive 1-to-1 mentoring, space in the UCL Hatchery and the chance for further training opportunities through UCL Advances.
Bright Ideas Awards 2015 winners
“Winning a UCL Bright Ideas Award has been a transformative experience for bio- bean. It has acted as a huge booster, accelerating bio-bean from an idea, to a business, beyond what we thought would be possible. We were pitching for substantial financial support, but the assistance that we received through mentoring from the UCL Advances Team, along with legal advice, office space and introductions to the people we needed to meet, has helped us build a social enterprise which will create both environmental and economic value”.
2013 Bright Ideas Winner Arthur Kay, Director, bio- bean Ltd
bio-bean recycle coffee grounds into biodiesel and biomass pellets, using a unique combination of three existing ideas: waste collection, biomass pellet production and biodiesel production.
"The UCL Bright Ideas Award has given Medefer that crucial start, every seed startup desires, allowing us to grow and reach our milestones. The uniqueness of the award is in the breadth of opportunities it delivers, from the provision of support and mentoring, to the funding. Medefer gained the skills that enabled us to develop our product, securing our first client. The award has given us the opportunity to grow in the digital healthcare industry, creating and delivering the invaluable and innovative solutions we are passionate about."
2014 UCL Bright Ideas Winner, Bahman Nedjat-Shokouhi, Founder, Medefer
Medefer has developed a ground-breaking, user-friendly technology, which enables GPs to liaise directly with Consultants regarding patient referrals.
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