Brief and Roles

• Address an existing challenge faced by your local community, using new technology or finding different ways to use existing technology  

• Either be entirely new or add an extra dimension to something that already exists

• Be readily understood and attractive to the market 

• Be commercially viable and offer a genuine return to investors

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You must assign roles among your team to research, develop and launch your product or service and:

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• Demonstrate how you intend to manage and grow your product or service successfully from development to five years after launch.

• Produce a business plan for your product or service and show five-year annual projections for income, costs, and profits.

• Explain what will be projected financial returns on that investment after 5 years showing an understanding both of expenses and realistic income projections.

• Explain the technology that you intend to use.

• You do not need to pitch for the full £2,000,000. But be realistic about your expense assumptions – labour, technology, market research and programming all cost more than you may think.

• Please note that sustainability is not just about climate protection – it includes protection of your local environment, use or reuse of existing tools that do not generate more waste, ability to address a long-term need etc etc.