Holloway Prize
Competition General Guidelines
- The competition emphasizes the innovation and its marketability rather than developing a complete business plan.
- The innovation can be, but does not need to be, brand new or necessarily "high tech" -- can use existing technology, modifications of existing technologies or new business models to bring products or services to markets profitably.
- High-potential, high-impact lifestyle businesses will be given the same consideration as high-growth, technology-based ventures.
- You do not have to assume that the team can or will be the ones to take the innovation to market.
- If the team's entry is just in the early "idea" stage then the team must be able to assure the judges that the innovative idea is viable and marketable.
- It should be reasonable to assume that the product could be built and sold at enough of a profit to the target customers to sustain a business longer term. The product or service does not necessarily need to be "Venture Capital Fundable."
- A presentation made by the inventor or developer will be scored more highly than one by those only peripherally involved in the birth of the invention or innovation.
- The innovation or business entity must address a social, environmental, quality of life or economic "pain" or problem.
- A welll-developed business plan is not required, but would help to attract wider interest and financial support from the investment community.
- Interdisciplinary teams are encouraged.