The Open University 2016 Entrepreneurship Competition

The Open University (OU) is pleased to announce the launch of the university’s 2016 Entrepreneurship Competition which officially opened on Tuesday 1 December 2015. The competition will help students and recent graduates take their business ideas forward by securing cash prizes to invest in their ventures.

There are two distinct awards – the ‘New Business Challenge’ and the ‘Innovation Award’.

New Business Challenge

For venture proposals that have been, or will be, developed into a full business plan. Simply submit your business plan via email to be reviewed by the shortlisting panel. Winners in this category will also be the OU’s submission to the Santander Universities Entrepreneurship Awards.

The cash prizes are Postgraduate £7,500 and Undergraduate £5,000.

Innovation award

For business ideas that are at an early stage of development. Submit a two minute video pitch along with a brief outline of your concept.

The cash prizes are Postgraduate £3,000 and Undergraduate £1,500.

Entrants selected for the final round will also be expected to present their business ideas to the judging panel.

Who can enter

OU students are eligible to enter the competition if they are resident in the UK and currently studying at undergraduate or postgraduate level, or have graduated on or after 18 March 2014 at undergraduate level or above.

Please note that employees of The Open University are not eligible to enter.

Guidance

Guidance has been produced that you can watch via YouTube. This will help you decide if the competition is right for you.

• Watch New Business Challenge guidance Watch Innovation Award guidance

How to register

To register for the competition, email either new-business-challenge@open.ac.uk or innovation-award@open.ac.uk confirming your full name and Personal Identifier number. You will receive further details including the full terms and conditions at time of registration.

The submission deadline is 17:00 (GMT) on Friday 15 January 2016.

This could be your first step towards something amazing… register now!