About the Challenge

The University of Adelaide Entrepreneurs' Challenge echallenge is an initiative of The University of Adelaide which aims to foster the successful development of new ideas into investment-ready early-stage companies. The echallenge is a business planning competition based on the Massachusetts Institute of Technology's 'MIT $50K' Competition.

The echallenge aims to stimulate innovation and entrepreneurship and create genuine commercial prospects for the benefit of South Australia. The competition also educates entrants about the process of getting a viable business idea off the ground. And with $50,000 in cash and prizes, it is certainly more than an exercise in writing a good business plan!

The echallenge aims to foster a broad spectrum of ideas.

The echallenge requires teams of up to six people, which must include at least one student from any tertiary institution in South Australia, to develop a business plan for a new, previously unfunded concept.

Each semi-finalist team will be given the opportunity to be paired with an experienced business person to act as their mentor and to assist in the development of an appropriate business model. Teams will also be involved in a structured workshop program to assist in the preparation of a successful business plan. The plans will then be presented to, and judged by, panels of high profile business executives. Five teams will progress through to the final round.