Bright Ideas Awards 2016
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.
2016 UCL Bright Ideas Awards - How to Enter and Eligibility
APPLICATION DEADLINE: 9AM, MONDAY 29th FEBRUARY 2016
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 £75,000 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.
How to Enter and Eligibility
2016 UCL Bright Ideas Awards: ‘How to write a business plan’ workshop
3rd February 2016
Time: 10am - 1pm
Venue: Anatomy G04 Gavin de Beer Lecture Theatre, Medical Sciences and Anatomy, Gower Street, London, WC1E 6BT
This workshop is only for current UCL students who intend to apply for the Bright Ideas Award
A credible business plan is essential if your business is seeking external funding. But that’s not the only reason why you need one – writing the plan will ensure that you’ve thoroughly explored all the key elements of your proposed business.
“Writing a Business Plan forces you into disciplined thinking, if you do an intellectually honest job. An idea may sound great, but when you put down all the details and numbers, it may fall apart”
Eugene Kleiner, Venture Capitalist
A business plan describes the business opportunity that you wish to exploit, identifies your target market, and explains how you plan to pursue it. This workshop will go through all the elements required, including defining the key drivers for success, explaining the business model and future financial projections, defining your differentiators, and providing the team members’ credentials.
You are strongly advised to attend this session, even if you already have a business plan.
There is no need to register, just simply turn up.
Bright Ideas Awards 2015 winners
“Winning a UCL Bright Ideas Award has been an invaluable part of making Afrocenchix a success. The support and mentoring we receive, to guide us in making the most out of the funding, is helping us to overcome obstacles and scale up our business. The guidance, advice, support and office space we gained through the competition are helping us to change our industry for the better. I would wholeheartedly recommend the Bright Ideas Award to any UCL student with a business idea; even the competition process and feedback from the judges were a huge help in developing our business plan."
2015 UCL Bright Ideas Winner, Rachael Corson, Co-Founding Director, Afrocenchix
Afrocenchix manufacture and sell scientifically formulated natural hair care products for afro and curly hair.
"Winning a UCL Bright Ideas Award transformed Greenseed from an idea to a viable business. The validation gave us a crucial boost and reinforced our belief; it has also helped us gain further traction and led to other opportunities since. As well as the much needed financial support, we have benefitted greatly from the further support and mentoring, and the office space - priceless resources. All in all, the UCL Bright Ideas Award has enabled us to push forward with developing the business, and has been an invaluable experience for us."
2015 UCL Bright Ideas Winner, Naomi Poyser, Co-Founder, Greenseed
Greenseed is a social app and marketplace for those who love or have an interest in gardening
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