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Home>Innovation>Funding for knowledge transfer>Business Plan Competition>Business Plan Competition

Business Plan Competition

RCUK Business Plan Competition Logo

Frequently Asked Questions

  1. I run and own a business but I work part-time (unpaid) at a university - am I eligible to enter the competition?
  2. No - participants must be paid by and hold a permanent position at the university or public sector research establishment. (And have an email account at the organisation.)


  1. I am based in a UK HEI - can members of my team be based in overseas universities?
  2. No - all team members must be based in the UK (but could be from different universities)


  1. My business idea is for the provision of a service rather than the development of a technology. Can I apply?
  2. Yes - the competition is open to all subject areas (within the Research Councils research remit) and all business models.


  1. Are there any restrictions on the use of the prize money?
  2. The prize is paid to the team leader and can be used in any way towards the development of the business.


  1. I have a business idea but it is not related to my research area, does this matter?
  2. No - so long as the business idea fits within the remit of one of the Research Councils.


  1. I am a PhD student, am I eligible to apply?
  2. Yes - but before making a submission you should discuss your idea and involvement in the competition with your supervisor and Tech Transfer Office (TTO).


  1. What if my organisation doesn't have a TTO?
  2. Then you should contact the department that deals with Intellectual Property, exploitation and commercialisation within your organisation.


  1. I am a Masters student, am I eligible to apply?
  2. No - the competition is only open to PhD students.

 

  1. I have entered the RC Business Plan Competition before, am I eligible to apply again?
  2. Yes - you may enter again providing that the business idea is a new one.


  1. Can I enter the competition if I have already entered the same plan to another competition?
  2. Yes - as long as you meet the other eligibility criteria.


  1. What are the stages of the Business Plan competition?
  2. Initially submit your business idea by the 4th December 2009, to enter the competition. As there are a limited number of spaces available on the Business Plan and Commercialisation Training, all entries will be vetted with the best teams and ideas offered places at the training workshops. The training workshops will take place in various locations around the UK in January 2010. You (and team) will then submit a 5 page business plan by 31st March 2010. Should your business plan progress to the next round of the competition, you will have the opportunity to attend a further seminar in May 2010, after which you will continue to develop your full Business Plan for submission during August/Sept 2010 (date tbc). The final event to announce the winner(s) will be in November 2010.


  1. Do I need to enter a Business Plan when I apply?
  2. No, you just need to submit your business idea and completed confidentiality agreements at this point.

 

  1. What is the Prize Fund?
  2. £25,000 for the winning team (£10,000 for the runners up).


  1. How do I submit my idea?
  2. Once you have completed the necessary forms please ask your Technology Transfer Officer (TTO) to confirm your eligibility and submit your completed forms and proposal to us via our email address RCBPComp@rcuk.ac.uk


  1. My idea isn’t necessarily commercial, i.e. sustainability of social impact/quality of life, can I apply?
  2. Absolutely, all ideas that fall into the Research Councils research remit will be accepted and considered.
  
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