A new entrepreneurship competition to transform business ideas from students and early-stage researchers at UCD into business plans and commercial enterprises was launched by NovaUCD today. Winning entries in the team-based SUSSED! Competition will share a €10,000 prize fund, receive 6-months free incubation space in NovaUCD and obtain professional support in forming their new ventures. The overall winner will also represent UCD in the Europe-wide UNICA Entrepreneurship Competition for Students and Young Researchers which takes place later in 2009.

NovaUCD is responsible for the commercialisation of intellectual property arising from UCD research. NovaUCD also provides entrepreneurs and knowledge-based start-up companies with a comprehensive business support programme and incubation facilities to assist them in bringing their innovative ideas to fully developed commercial enterprises.

Speaking at the launch of the SUSSED! Competition, Professor Mark Keane, UCD Vice-President for Innovation said, “This competition, which is being organised by NovaUCD, is designed to encourage UCD students and early-stage researchers to translate their energy, novel business ideas and technologies emerging from UCD into new indigenous commercial ventures. The development of such ventures form the backbone of the Government’s vision for Ireland’s economic future and the building of a Smart Economy.”  He added, “The SUSSED! Competition also aims to further develop a culture of entrepreneurship among the students and researchers at UCD and to enhance their entrepreneurial skills.”

The SUSSED! Competition will be run in two stages. Participating teams will be asked to submit their business plans setting out their business ideas. These business plans will then be reviewed by a Judging Panel which will contain a mixture of experienced entrepreneurs, academics and industry representatives from diverse sectors.

The Judging Panel will then short-list the teams which will go forward to the “Dragons’ Den” stage of the competition. These teams will then make presentations to the Judging Panel who will select the top three prize-winners.

To enter this competition prospective teams need to register their interest with NovaUCD by 6th April. The final deadline for the submission of application forms and business plans is 15th May.

Details of the SUSSED! Competition, including, timelines, rules, assessment criteria and other related information are available.

ENDS

19 March 2009

For further information contact Micéal Whelan, NovaUCD, e-mail: miceal.whelan@ucd.ie, tel: (01) 716 3712.

Editors Notes

SUSSED! is UCD’s €10K Entrepreneurship Competition designed to showcase the energy and ideas emerging from UCD. It is open to all UCD undergraduate and postgraduate students and early-stage researchers. The SUSSED! Competition will be judged by a panel of judges on the basis of submitted business plan and presentations from participating teams. The winners of SUSSED! will receive prizes totalling €10,000, free accommodation in NovaUCD’s desk space facility for 6-months and professional support in forming a new venture. The overall winner will also go forward to represent UCD in the Europe-wide UNICA Entrepreneurship Competition for Students and Young Researchers later this year. 

NovaUCD is University College Dublin’s Innovation and Technology Transfer Centre.  NovaUCD is responsible for the commercialisation of intellectual property arising from UCD research and for the development of co-operation with industry and business. NovaUCD provides entrepreneurs and knowledge-based start-up companies with a comprehensive business support programme comprising advice, seminars, consultancy, workshops and individual training. NovaUCD also provides incubation and other related facilities for entrepreneurs, campus companies and knowledge-based ventures. NovaUCD has been funded through a unique public-private partnership that includes AIB Bank, Arthur Cox, Deloitte, Enterprise Ireland, Ericsson, Goodbody Stockbrokers, UCD and Xilinx.