Applications open for Converge Challenges Program – UK

Benefits

• Business training
  • Delivered by entrepreneurs and investors, the world-class training covers the essentials of starting a business. And it won’t cost you a penny.
• Cash prizes
  • You could be in the running to win generous cash prizes and in-kind business support to springboard your business into the world.
• 1-2-1 support
  • The friendly, experienced, hands-on team is here to guide you right from the get go. Whether you need application support, meaningful introductions or even just a sounding board, they’ve got your back.
• Professional advice
  • They’ve joined forces with a network of professional advisors – all experts in their fields – to offer you free advice across IP and legal to accounting and more.
• Grow your Network
  • It’s sometimes not what you know, but who you know that counts. Tap into the extensive business and investor connections to accelerate your growth.

Challenges

• The Converge Challenge is for novel business ideas with solid IP foundations, high commercial potential and scalability.
  • What’s in it for you?
    • If you’re looking to take the entrepreneurial leap from academia to business with your breakthrough innovation, then Converge Challenge is for you.
      • Winning the top prize will net you £50,000 in equity-free cash and £20,500 of in-kind business support from the industry partners towards turning your idea into a reality.
      • The runner-up will receive £20,000 in equity-free cash and £9,500 of in-kind business support from the industry partners to help get your business up and running.
      • All successful applicants enjoy a money-can’t-buy package of training and pitch coaching from experts with real-world experience of starting and growing global businesses.
      • Dedicated events, workshops, access to the Converge Enterprise team and opportunities to get involved in future activities and publicity.
  • Who can apply?
    • The Converge Challenge is for high-calibre projects with the potential to become successful, sustainable companies that will have a positive impact in Scotland. They welcome applications across all industry sectors and enterprise types, for both product and service-based ideas.
• The Net Zero Challenge is designed to springboard green entrepreneurs developing sustainable solutions to the planet’s biggest environmental challenges.
  • What’s in it for you?
    • Let them help you fast-track your environmental business idea from concept to reality with cash prizes, intensive business training and support.
      • Winning the top prize will get you £30,000 in equity-free cash and £19,500 of in-kind business support from SSE and the industry partners towards turning your idea into a reality.
      • The runner-up will receive £10,000 in equity-free cash and £9,500 of in-kind business support from the industry partners to help get your business up and running.
      • All successful applicants enjoy a money-can’t-buy package of training and pitch coaching from experts with real-world experience of starting and growing global businesses.
      • Once you’ve been accepted onto the programme, your journey doesn’t end there. As a Converge alumnus, they continue to provide you with access to the network of investors and advisors, business support and publicity and promotion.
  • Who can apply?
    • This challenge welcomes both product and service-based ideas that contribute to environmental conservation, address climate change and promote a more sustainable future.
• The Create Change Challenge is for creative, social and cultural projects looking to become sustainable businesses.
  • What’s in it for you?
    • The Create Change Challenge can be your springboard to success with equity-free cash prizes and bespoke training with a sharp focus on creative and social business needs. At the end of the programme, you will have gained the skills, confidence and network to make your idea a reality.
    • They welcome applications for both product and service-based ideas with the potential to develop into sustainable businesses that deliver either creative, cultural or social impact.
      • Winning the top prize will get you £30,000 in equity-free cash and £10,500 of in-kind business support from the industry partners towards turning your idea into a reality.
      • The runner-up will receive £10,000 in equity-free cash and £5,000 of in-kind business support.
      • All successful applicants enjoy a money-can’t-buy package of training and pitch coaching from experts with real-world experience of starting and growing creative and social businesses.
      • Once you’ve been accepted onto the programme, your journey doesn’t end there. As a Converge alumnus, they continue to provide you with access to the network of investors and advisors, business support and publicity and promotion.
  • Who can apply?
    • This is a broad category for social shakers, creative thinkers and cultural entrepreneurs looking to change the world for the better. Whether it’s a technical solution tackling mental health issues or a new cultural or educational tool bringing people together – and everything in between – then you’ve come to the right place.
• The KickStart Challenge is for aspiring entrepreneurs with innovative business ideas they’d like to test, validate and prepare to launch.
  • What’s in it for you?
    • KickStart Challenge can be your first step towards commercialisation, designed to test the robustness of your idea, equip you for the realities of entrepreneurship and prepare you for the more advanced challenge categories.
      • Winning the top prize will get you £10k in equity-free cash to help progress your business idea plus fast-track entry to the semi-finals of the most relevant advanced challenge category.
      • The runner-up will receive £7.5k in equity-free cash towards developing their idea and preparing to launch their business.
      • All successful applicants enjoy a money-can’t-buy package of training and pitch coaching from experts with real-world experience of starting and growing global businesses.
      • The winner of this year’s KickStart Challenge will be fast tracked to their chosen advanced category without having to apply.
  • Who can apply?
    • The Kickstart Challenge is open to those taking the first steps of their commercialisation journey, designed to help you establish the viability of your idea and prepare for the challenges of entrepreneurship. They welcome applications from across industry sectors and enterprise types, for both product and service-based ideas.

Criteria

• Staff and students at all Scottish Higher Education Institutions are eligible to apply.
• Recent graduates (up to 36 months after graduation from the initial application date) from Scottish Higher Education Institutions are eligible to apply.
• Team and joint applications are accepted, provided one member of the team is a student, recent graduate or member of staff from a Scottish Higher Education Institution.
• Applicants must plan to have their business headquartered in Scotland.
• You must either own or have the right to use and commercially exploit all Intellectual Property Rights related to your business idea.

For more information, visit Converge.