The competition process
How complicated is the form to fill in?
It is a simple online application with a few initial questions.
What is the initial procedure for being assessed?
Once we receive your online application, it will be put forward for initial assessment. It will then be reviewed in the next available slot at the Sponsor's monthly board meetings. You may be contacted by one of the Sponsors in order for them to learn more about your product or service so that they can present to the board on your behalf. If you are a successful monthly winner we will then arrange to meet you and to present you with your bubbly and certificate and hopefully arrange some press coverage!
How long does the process take?
Upon receipt of your application, it is put forward for initial assessment and then reviewed at the next available monthly sponsor meeting so this process could be as short as a week or as long as six weeks depending on when we receive the application in the cycle. After monthly review you will be notified if you are a monthly winner within the week. Those selected for the final in July will be notified at least three weeks prior to the event in order to have time to prepare.
What is the criteria for assessment?
The applications are assessed on a point scoring basis based on 'Degree of Innovation', 'Commercial Potential', and 'Impact on Merseyside' see Rules and Conditions.
Will my innovation remain confidential?
During assessment your idea will remain confidential to the members of the board of sponsors who take their responsibility to do so very seriously. However, if you do get through to the final you will need to present your innovation to the external judges and some members of the public in such a way as to convince them of its innovation without giving away information that you are not comfortable disclosing. If you do not think this is feasible please let us know when you first apply – you may still gain benefit from being able to discuss your innovation with the sponsors and from whatever limited publicity you approve. Some information will also be published in the press if you are a monthly winner or a finalist.
If I win, how much do I get?
£10,000 and up to £4,000 free consultancy.
What is the 'free consultancy'?
Think of it like a voucher for advice from some of the sponsors to help take your idea/business forward – eg: patent advice, fund raising, marketing.
If I am a monthly winner, does it mean I'm through to the final?
No, however it does mean that you may well be short-listed. Because applications are reviewed generally on the month in which they apply, some candidates in one month may be stronger than the winner in a different month.
I wasn't a monthly winner, do I still have a chance of getting to the final?
Yes, all applications are reviewed again before the short-list is drawn up and you may get through to the final.
Help! I'm through to the final what do I have to do now?
Pat yourself on the back! The Sponsors will contact you and explain the next stage in more detail and help you through the process of preparation. At the final, which is during the first week in July, you will need to present your innovation to the external judges and to an audience of about one hundred guests invited from the business sector across the region. The judges will spend time with you first to gain a more in-depth appreciation and you will have the opportunity to show your innovation to the guests. It's a vibrant atmosphere with good food and the odd glass of champagne so we hope you enjoy it too!
What are the benefits of applying?
Apart from possibly winning the £10,000 prize, you have the chance to have your innovation evaluated by the Sponsors, who are experienced in assessing new opportunities, and also to benefit from any advice they might be able to give. In addition, your application can be featured on this web-site and generate some interest with members of the public and potential investors.