Challenge to young SA entrepreneurs

Monday, 9 July 2007

Young entrepreneurs with innovative ideas are encouraged to enter the University of Adelaide's 2007 echallenge competition which starts this month.

The Entrepreneurs' Challenge aims to foster the successful development of new ideas into investment-ready, start-up companies, creating genuine commercial prospects that benefit the State.

Targeted at all South Australian tertiary students (university and TAFE), the echallenge is open to teams of up to six students who must develop a business plan for a new, previously unfunded concept.

Run within the University of Adelaide's Education Centre for Innovation and Commercialisation (ECIC), echallenge has kick-started some innovative local companies since its inception in 2002.

Examples include:

• 2004 finalist Microbric, an electronic construction set company which has gone on to launch the hugely popular i-bot, Ai2 and viper products;
  
• Adelaide organic clothing store, The Purely Cotton Company, which sells environmentally friendly underwear;
  
• Track to Track, a glossy magazine targeted at the thoroughbred racing industry in Australia and New Zealand; and
  
• 2006 winner Vinetology, a robotic grape vine pruner.
  

"Cutting-edge, blue-sky technologies are run through some pretty rigorous grilling from the judges," according to ECIC Deputy Director Antonio Dottore.

"The echallenge helps build entrepreneurial culture and is an effective way of creating employment opportunities and stimulating the business community," he said.

Each semi-finalist team is offered an experienced business person as mentor and the final plans are judged by a panel of high-profile executives from business and government.

For more information on the competition, visit www.adelaide.edu.au/echallenge/

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