Middlesex University and Barnet Council are launching an exciting new initiative to support new local and student entrepreneurs who have just started a business or have an idea for a start-up and reward them with a cash prize to help it grow.
What’s Your Big Idea? launches during Global Entrepreneurship Week from 18 to 24 November and targets early-stage entrepreneurs whose businesses are less than one year old and those who are interested in starting their own business. The competition is generously supported by Santander Universities, Brent Cross Shopping Centre and Barnet Council.
With a £20,000 prize fund, What’s Your Big Idea? is designed to equip MDX students, recent graduates, Barnet and Southgate College students, and Barnet residents with the resources, guidance and community they need to bring their innovative ideas to life. The new competition combines the previous MDXcelerator and Entrepreneurial Barnet initiatives into a huge new programme.
What’s Your Big Idea? offers the opportunity for contestants to showcase their ideas, attend workshops and masterclasses, receive expert advice to help develop their ideas and win funding to put towards their businesses.
Participants will submit a 90-second video pitch to outline their background, skills and aspirations and those selected will be invited to attend hands-on training sessions covering the core pillars of launching a successful business. These workshops will explore topics such as value proposition and validation, operational planning, financial forecasting, and market research, providing valuable, real-world insights that participants can directly apply to their business models.
The programme culminates with a final pitching event on May 15 next year where selected finalists will present their ideas to a judging panel of seasoned entrepreneurs and industry experts. This grand finale event will offer a real-world experience similar to investor pitch sessions, providing participants with invaluable feedback while they compete for a share of the £20,000 prize pot.
Commenting on the competition Middlesex Vice-Chancellor, Professor Shân Wareing said:
“We are always keen to champion entrepreneurial spirit and create an environment in which students and graduates can develop and grow their business ideas. So it’s fantastic to be involved in a project that provides such a great platform for entrepreneurs in the local Barnet and North London community.”
Cllr Barry Rawlings, Leader of the Council and Cabinet Member for Strategic Partnerships, Economy, and Effective Council, said:
“Barnet is a buzzing hub for entrepreneurs, with thousands of small businesses trading in the borough. We’re proud to partner with Middlesex University to support the next generation of entrepreneurs. I encourage all budding business owners to apply, take advantage of the coaching and mentoring and pitch for a share of £20,000 in start-up funding. Forget Dragon’s Den or The Apprentice – this will help our local, young and ambitious talent turn their drawing board ideas into actual businesses.”
Matt Hutnell, Head of Santander Education & Social Impact, said: “At Santander, we recognise the crucial role that startups, scaleups and small businesses play in building and strengthening the UK economy. We support the innovators of the future at every stage of their journey, connecting them to the funding, training, exposure, and networks they need to grow their business ideas.”
The competition is open to current Middlesex University students, alumni (up to two years post-graduation), residents of the London Borough of Barnet and Barnet and Southgate College students. Applicants can apply as individuals or in teams, provided they are at least 17-years-old, eligible to work in the UK and if they have a business venture it must be less than one year old.
The programme is open for applications between Monday 18 November and 26 January 2025.
