Competition launched to find the innovators of tomorrow

The search is on to find the North East’s innovators of tomorrow with the launch of a competition to bring scientific ideas to life.

Newcastle Science City has thrown down the gauntlet to businesses and individuals across the region to put forward their innovative ideas for the chance to win £20,000 of specialist support and take their ideas to market.

The competition is aimed at developing innovative ideas that can be launched within 12 months, have potential to be high-growth and target unmet needs in one of Newcastle Science City’s theme areas: ageing & health, sustainability or regenerative medicine.

Up to six businesses have a chance of scooping the prize, which will provide a tailored package of expertise, mentoring and support to commercialise the winning idea. Depending on the needs of the business, support services could include market research, prototyping, design work, marketing, sales lead generation, software development, legal support, financial modelling and intellectual property protection.

Simon Green, project manager at Newcastle Science City, said: “The competition presents a phenomenal opportunity to businesses and individuals to develop their ideas and realise their potential – especially in the current economic climate when investment can be difficult to secure.

“At Newcastle Science City we have the right expertise and the connections to create innovate, high-growth businesses and this competition will help accelerate that.”

Newcastle Science City is a partnership between Newcastle University, Newcastle City Council and One North East to help the region realise the full economic potential of its science-based industries.

Key to its work is the creation of innovative, high-growth businesses and it has developed the Newcastle Innovation Machine – a systematic method of identifying unmet needs, finding solutions to those needs and creating businesses. Winners of the competition will use the expertise of the Newcastle Innovation Machine to ensure they develop to reach their potential.

The completion is open to businesses or individuals based in, or planning to be based in, the North East of England.

Applications can be made online by following this link http://www.newcastlesciencecity.com/science-city-activities/supporting-business-and-entrepreneurs and the competition closing date is Friday, February 11, 2011 at 5pm.