UQ competition boosts budding entrepreneurs

Entrepreneurs with promising business proposals can win $100,000 towards realising their dream through a groundbreaking competition launched this week.

The University of Queensland Business School’s second annual ENTERPRIZE contest will encourage business ideas and innovation.

UQ Business, Economic and Law Faculty Executive Dean Professor Ian Zimmer said the inaugural ENTERPRIZE in 2001 had revealed the depth of talent, creativity and skill among the State’s emerging small businesses.

“The contest not only helped the winners progress their businesses but gave all the entrants the chance to articulate and demonstrate their ideas,” Professor Zimmer said.

“We are confident the competition will continue to build in stature and will become an important showcase for business investors and venture capitalists.”

The competition is open to anyone who has a business proposal ready or almost ready to launch.

To enter, each team must also contain a University of Queensland student as an active member.

Professor Zimmer said the 2002 competition would include for the first time a separate $25,000 prize open only to tertiary students.

The new contest mirrors the main event and is sponsored by i.lab, the Queensland Government’s technology incubator.

For both contests, business concept plans must be lodged by 6 September this year.

Last year ENTERPRIZE was won jointly by Tank IP, the developer of the Bioforce game controller and Elvin Pty Ltd, a company established to commercialise seven years’ research into next-generation technology.

More information is available at http://www.enterprize.uq.edu.au/ or from Robyn Humphreyes-Reid on 3346 9247.