Young entrepreneurs with innovative ideas for new businesses are encouraged to enter the University of Adelaide's 2010 Entrepreneurs' Challenge (eChallenge) competition.
The eChallenge aims to foster the successful development of new ideas into investment-ready, start-up companies, creating genuine commercial prospects that benefit the state.
The eChallenge is open to teams of two to six people, one of whom must be a current South Australian tertiary student (university and TAFE). Their challenge is to develop a business plan for a new, previously unfunded concept.
Each semi-finalist team is offered invaluable help through a series of workshops and the support of a mentor from the business community. The business plans are also judged by high-profile executives from business and government.
Run by the University of Adelaide's Entrepreneurship Commercialisation and Innovation Centre (ECIC), eChallenge has kick-started some innovative local companies since its inception in 2002, such as:
- 2004 finalist team Microbric, an electronic construction set company which went on to launch the highly popular i-bot, Ai2 and viper products;
- Track to Track, a glossy magazine targeted at the thoroughbred racing industry in Australia and New Zealand;
- 2008 winner, Proscales, who have achieved sales and are exploring opportunities in new markets.
"The eChallenge helps build entrepreneurial culture and is an effective way of creating employment opportunities and stimulating the local economy," said ECIC Deputy Director Antonio Dottore.
The first introductory workshop is on Thursday 13 May, to be held at Piper Alderman, 167 Flinders St, Adelaide.
The deadline for registration to compete in eChallenge is Wednesday 2 June.