Fair play to Dublin firm iQ Content. It is giving away €10,000 in cash -- NOT vaguely valued 'services' -- to whoever comes up with the best business plan in an open competition.
It says there are no strings attached and that it does not want a stake in the firm. It even says that the winner can do whatever they want with the money.
It says that it only wants "goodwill" in return. Well, if this is as straightforward as it appears, it will certainly garner that. Anyone interested in entering, go to the site. (It's open for another 48 days.)
Here's some more detail from the firm's press release...
Questions on the iQ Prize
Background
The idea was conceived by Morgan
McKeagney, Managing Director of iQ Content and presented at the Future of Web
Apps (FOWA) Dublin on March 6th.
What is it?
€10,000 to help
turn a good idea into a great internet business.
Why are we doing
it?
The iQ Prize is our small contribution to creating a better Ireland:
a catalyst to tap into Ireland’s talent, to spark innovation, and to help create
the great businesses of the future.
Who’s the prize for?
Anyone
- an individual or company - based permanently in Ireland.
What’s the
prize for?
We’ll award the prize for the best business plan for an
internet start-up.
Can it be an existing idea or web
app?
Certainly. With this prize, iQ Content wants to help exploit a good
idea and turn it into a viable business. It doesn’t matter if the idea is
already out there - quality and business case come first.
What’s the
catch?
We’re not investors. We’re not venture capitalists. We’re not
looking for equity and we don’t want any intellectual property. There’s no
catch. There are no strings. Seriously.
What we’ll get is goodwill,
hopefully. But ultimately, we’re doing this because we can. We think it’s
worthwhile.
What does the winner do with the money?
That’s up
to them.
How do I win it?
Step 1: Submit a 5-page plan
answering the questions below (see judging criteria).
Step 2: We’ll then
whittle down the entries to a shortlist of 10.
Step 3: The shortlisted
candidates will then present their ideas to a panel of external judges
What are the judging criteria?
We’ll measure your 5-page plan
based on the following headings:
1. Problem: What’s the problem you’re
trying to solve?
2. Solution: How are you going to solve it?
3.
Business Model: The business bit - how will you make money from this
idea?
4. Technology: How will you build this?
5. Sales &
marketing: How will you market and sell your solution?
6. Competition:
What’s the market like - who are your competition and how will you better
them?
7. Team: Who’s behind this and why do you think you’ll be
successful?
In addition, we’ll score entries on three broader
criteria:
8. Credibility: Is this plan and team credible? Will they be
able to do what they say they’ll do?
9. Feasibility: Can this plan be
implemented? Is it achievable, workable or possible?
10. Viability: Can
this idea become a sustainable business? Will it make money in the short or
medium term? Can it survive in the long haul?
Who are the
judges?
The names are still to be confirmed, but they will be an external
panel of judges selected by iQ Content.
Comments