win £10,000 / €11,000* & mentorship to get your business idea off the ground.
The Unloc Enterprise Challenge brought to you by Verizon is an online entrepreneurship competition looking for people aged 16-25 with fresh, new and innovative technology led business ideas. We are reaching out to a Pan-European audience in our search for a great new start-up business.
about the competition
The Unloc Enterprise Challenge brought to you by Verizon is now in its 2nd year.
The Challenge is an online entrepreneurship competition looking for people aged 16-25 with fresh, new and innovative technology led business ideas. We are reaching out to a Pan-European audience in our search for a great new start-up business.
Applicants will compete to win the overall prize at the London grand final:
● £10,000/€11,000* of funding for their start-up business
● A mentorship package to accelerate their idea
● Finalist runners up will also receive £1,000/€1,100* of funding for their start-up business
● VIABILITY: Can the plan achieve what it states it will do? Does it operate within the budget/resources currently held or will acquire?
● TECHNOLOGY INNOVATION: Is the idea unique? Does it have a clear unique selling point? Is the technology solving the problem in a creative way or fulfilling a gap in the market?
● SUSTAINABILITY: Will the venture… improve people’s lives in some way? Meet social or community needs in a new way? Does it meet or sustain a UN Sustainable Development Goal in some way?
APPLICATIONS WILL ONLY BE ACCEPTED FROM:
● Individuals between the ages of 16 and 25 years on the 1st January 2020
● Residents and/or citizens of a mainland European country
BUSINESS PROPOSALS MUST:
● Be legal in all mainland European countries
● Be either a pre-start (not yet trading); or not have been trading for more than 3 years and have an annual turnover of less than £100,000 on 1st January 2020
● Not have the purpose of political lobbying
● Be the applicant’s own idea and not infringe on the copyright, patent or intellectual property of others
● Immediate family members of the judging panel are not eligible to apply
How to apply
Alison Wood, Founder of Lilypads
Alison Wood from Edinburgh took the top spot in 2018, receiving funding, a mentorship package and a technology bundle to help get her business ‘Lilypads’ off the ground.
Lilypads makes and sells reusable sanitary products in both the UK and Kenyan markets, with profits from the UK products subsidising the Kenyan equivalent. These products are made from donated second-hand linen, which keeps the cost to the minimum while also helping reduce wastage from laundrettes. 65% of women in Kenya are unable to afford sanitary products, resulting in transactional sex and unhygienic alternatives.
Alison Wood, commenting on her success said “I am simply delighted. The funding and support from the Unloc Enterprise Challenge will make a huge difference in our efforts to launch Lilypads in Kenya.”
*The actual prize fund will be dependent on the exchange rate at time of award.