Entries open for Net Zero Challenge (UK)

Funding Information

• Prize fund: £64k
• Winner: £30,000 in equity-free cash and £16,250 of in-kind business support
• Runner-up: £10,000 in equity-free cash and £7,800 of in-kind business support.

Additional Benefits

• By joining their cohort of like-minded innovators, you’ll benefit from expert guidance, invaluable connections and peer-to-peer support.
• All successful applicants benefit from bespoke business training delivered by experts with real-world experience of starting and growing global businesses.
• Once you’ve completed their programme, you’ll join a thriving and diverse community of Converge alumni spearheading breakthrough businesses.

Eligibility Criteria

• Members of staff from all Scottish universities are welcome to apply including early-career researchers, academic and professional staff.
• They welcome applications from postgraduate and undergraduate students from all Scottish universities.
• Recent graduates (up to 36 months after graduation from the initial application date) from all Scottish universities are eligible to apply.
• Team and joint applications are welcome provided one member of the team is a staff member, student or recent graduate from a Scottish university.
• Applicants must plan to have their business headquartered in Scotland.
• Active participation in all training sessions and events is mandatory for the lead applicant.
• You must either own or have the right to use and commercially exploit all Intellectual Property Rights related to your business idea.
• Stage of development:
  • Applicants need to demonstrate validation of their product/service, early customer engagement, a viable route to market and be ready to start operating within twelve months of their annual Awards in October.
  • If you do have an existing company, it must be dormant, non-trading or trading for no longer than 24 months with a secured income not higher than £150,000 (including but not limited to grants, investment, loans, revenue, prizes).
• Technology readiness levels (TRLs) are a scale used to measure the maturity of a technology during its development. To apply for this challenge, they recommend TRL4-7.

Judging Criteria

• They are looking for projects that can demonstrate substantial and sustainable impact towards solving some of their planet’s biggest environmental challenges.
  • Innovation
    • Intellectual property
    • Disruptive potential
    • Competitive advantage
  • Environmental impact
    • Potential of measurable environmental impact
    • Scalability
  • Market validation
    • Customer engagement
    • Viable route to market
    • Market fit
  • Team
    • Relevant experience
    • Planning for future team
  • Resource planning
    • Understanding of market readiness requirements including funding, expertise and operations

For more information, visit Heriot-Watt University.