The nation’s most valuable ticket to business commercialisation is now taking entries for its 2004 business plan competition.
With up to $125,000 in prizes for business commercialisation, the UQ Business School’s Enterprize competition is again on the lookout for groundbreaking ideas.
Over the past three years, Enterprize has provided nearly 200 business ideas with networking facilities, skills support and the opportunity to launch with significant seed capital.
Business ideas as varied as vaccine technologies through to automated cocktail makers have benefited from the Enterprize experience, which aims to foster networking with venture capitalists and angels, and give participants the experience of drafting a professional business plan for review by potential investors.
The Enterprize competition comprises two categories: the UQ Business School $100,000 Open Category; and the i.lab Student Category of $25,000 in value, which offers the winners one year’s occupancy at i.lab incubator for two people, and access to all i.lab programs including mentoring and business development programs, CEO lunches, networking events and training programs.
2003 winners of the $100,000 Open Category, Fusion Sport, developed a groundbreaking electronic coaching tool with the capacity to create a new breed of the world’s elite and most capable athletes.
The coaching system, named SmartspeedTM, consists of coloured, flashing remote field sensors that track athletes during training and competition, providing them with real-time visual and audio feedback on their performance.
Winners of the 2003 i.lab Student Category, J-Team, identified a market opportunity for downloadable animated action and adventure games for mobile phones.
J-Team envisage their business concept will see friends engaging in multiplayer action through wireless technology. The utilisation of mobile phone technology to enable portable gaming on demand is the key to this product`s success.
The Enterprize competition is open to all members of the community; teams must have however at least one member who is a University of Queensland student. Student category teams must all be tertiary students.
Enterprize has also attracted the involvement of several high profile members of Australia’s venture capital community.
Bob Christiansen, CEO of Australia’s largest venture capitalist firm Allen and Buckeridge, and Bruce Scott, Managing Director of NBC Capital, join The University of Queensland’s Deputy Vice Chancellor Professor Paul Greenfield to form the 2004 judging panel.
Head of UQ Business School Professor Tim Brailsford said Enterprize was an open invitation to entrepreneurs within the community to turn their great ideas into reality.
“The prize money is just one component of the competition; all entrants can further their links with industry and benefit from the valuable learning experience of the competition process,” he said.
The UQ Business School will run a business plan writing workshop to assist entrants who have no previous experience preparing business plans on June 25.
Enterprize entrants are required to submit business concept plans to the UQ Business School by July 26. Finalists will present their full business plans to the panel of Enterprize judges on October 21.
Further information about the Enterprize competition is available on the official website, www.enterprize.uq.edu.au
For further information, contact Karissa Douglass on 07 3365 6179 or email. enterprize@business.uq.edu.au
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