18 November 2015 | The Brewery, London, UK
Entries to the IET Start-up Innovation Award are welcomed from engineering start-ups which can demonstrate that they have solved a worthwhile problem and achieved early commercial traction.
We want to hear about the problem that you have addressed the technical novelty and innovation of your solution, and how this will significantly change the world for the better.
Please describe how your market is evolving, who your competitors are, significant technical challenges that you have overcome, and how your innovative start-up stands out from the crowd.
The judges particularly want to see evidence that you have got beyond the “idea” stage and have evidence demonstrating that the rest of the world sees value in what you are doing.
What’s a Start-up?
For this competition the key criteria are that the company:
- Thinks of itself as a start-up
- Is pursuing a business model which should be highly scalable, i.e. to grow fast
- Is disruptive of the status-quo
- Is still developing very rapidly - and probably its market is too
- Is less than five years from inception
- May or may not be profitable
New for 2015
In conjunction with the Innovation Warehouse, the winner of the Start-up category will be offered 8 hours of mentoring with one of their mentors and angel investors, to be used over the course of two months.
These 8 hours of support include email, mobile calls, Skype and meetings at Innovation Warehouse. (Value of £1,000)
There are three simple steps to entering the awards
Prepare your entry form and any supporting evidence (if appropriate) along with a high res photo (min. 300dpi) of your innovation. You’ll need a succinct title and a brief description (50 words max), we also ask for a PR contact (if relevant).
Register as a new user on the online submission system and submit your entry form, evidence and photo following the on-screen instructions.
Put 18 November 2015 in your diary. You’ll need to attend the ceremony if you’re shortlisted!
Handy hints for completing your entry form
- The title of your entry should describe the content and not include the name of your company or organisation with no more than 15 words
- You may enter up to three categories with each innovation but will require a separate entry form for each
- Ensure you actually describe how your innovation works (simple, but not always the case!)
- No sales jargon please
- Be specific to the questions posed
- Remember to refer back to the judging criteria
- Please remember that it is quality over quantity. Pay attention to the guideline words lengths
- The description in question five may be used to describe your innovation in any general marketing and publicity that the institution does on your behalf should your entry reach finalist stage of the awards. This marketing will reach a very broad audience and needs to be constructed in non-technical terms. It should not simply repeat the entry title as the two will usually be listed together