STRATEGIC INVESTMENT FUND � INTRODUCTION AND GUIDANCE FOR APPLICANTS by 0O45wd20

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									          QM/Santander Universities ‘Next Step’ Student Enterprise Competition

                                          Application form
Eligibility

Applicants must be registered QM Students or QM Alumni who graduated in 2010 or later. Groups and
partnerships are eligible to apply but must supply a lead contact name. The grant prize is provided to
cover itemised costs which must be detailed on the application form. Funding is available at three levels
of £3.0k, £1.0 and £0.5k. There will be only one prize awarded at the £3.0k level, 2 prizes at the £1.0k
level and 4 prizes at the £0.5k level. Only one level of funding must be applied for by any applicant and
multiple entries will not be accepted. Eligible costs for the ‘Next Step’ in the development of the
enterprise could include: (a) Promotional activities, (b) Materials and equipment (evidence of need must
be demonstrated), (c) Prototype development (service or tangible), (d) Professional or other
development services. Please note travel and subsistence are not eligible costs.

Application Process

Applications must be completed electronically using this form and emailed as an attachment to
k.c.byron@qmul.ac.uk for approval prior to assessment. Applicants for the £3.0k and £1.0k level are also
required to submit a 2-minute ‘business pitch’ video as part of the application.

The deadline for submissions is 5.00pm 19th October’12

Approval Process

Applications (completed form + video for the £3.0k and £1.0k levels) will be assessed by a panel drawn
from The Learning Institute and Queen Mary Innovation, and the awardees will be announced during
Global Entrepreneurship Week (Nov 12-18th’12). All members of the approval panel and university staff
working on the project are covered by confidentiality and non-disclosure agreements.

Conditions of Funding

All recipients of funding will be required to enter in to a written agreement. This will include
requirements to:

       Ensure that business activity undertaken is legal and ethical.
       Provide a report on progress made after three months and supply receipts for expenditure.
       Participate in promotional activity where appropriate.
       Spend the funding on the item(s) listed in the application. QM reserves the right to request
        re-payment of the grant if there is significant deviation from the listed expenditure without
        prior approval from the funding panel.
       All applicants will be invited to attend free skills workshops on enterprise/entrepreneurship.




1                         QM/Santander ‘Next Step’ Student Enterprise Competition                 Jun’12
          QM/Santander Universities ‘Next Step’ Student Enterprise Competition

                                              Application form

Once you have completed all sections of the form below, please save it and email it as an attachment to
Kevin Byron at k.c.byron@qmul.ac.uk and put the subject title: QM/Santander Universities ‘Next Step’
Competition. For further information please contact Kevin Byron on: 020 7882 2798.


Name(s) of Applicant(s)

Name of Business

Home Address


QM e-mail address

Telephone Contact

Course of Study                         Undergraduate                               Graduate
                                 Course name and year of study           Course name and year of graduation


Amount of funding                 Video attached? (only applies                      Date of Application
requested: £............         for £3.0k or £1.0k applications)
                                            (Yes/No) ?

       Summary of Business Idea and current position – What? Where? Who? (300 words max)
       How will you demonstrate the current stage of your business? (eg Website, product sample)




2                          QM/Santander ‘Next Step’ Student Enterprise Competition                         Jun’12
          QM/Santander Universities ‘Next Step’ Student Enterprise Competition

                                           Application form

Market Need – Why? What is the market? How big is the market? What is the gap that your
business idea addresses? Who are your customers? Who are your competitors? (400 words max)




How will the ‘Next Step’ funding help with your plans?- Include a cost break-down of the amount
requested and an outline action plan (300 words max)




Risk Assessment - What are the perceived risks associated with the project and what
                  contingencies are developed to address them? (200 words max)




3                       QM/Santander ‘Next Step’ Student Enterprise Competition             Jun’12

								
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