Great ideas are only great if they can be implemented and brought to the market. The process is monumental for those who are unable to obtain the right guidance to commercialise their ideas. The Limkokwing Innovative Enterprise Award seeks to provide a pathway that will enable young people to test the workability of their ideas.

Our panel of judges

Our panel of judges also act as advisers to provide assistance in a variety of ways to implement an idea into a viable enterprise. They comprise representatives from financial institutions and industry. They will vet a submission to ascertain its viability. Applicants may be required to present their ideas personally and be interviewed.

Ownership of enterprise

The University will become an equity shareholder of all enterprises registered with the Enterprise Acceleration Centre.

How to submit your proposal

You will need to fill in a form that you can download from our website to register your intent and provide a brief outline. This form requires personal information to which you can attach your proposal. If you are not sure how to write your proposal we will conduct special briefings that you can attend. The announcements will be made through the newspaper or posted on this website.

Every entry will be treated with the strictest of confidence. Only short-listed applicants will be called for a presentation to the panel.

Criteria for submission

∙ You will be required to sign a declaration that your submission is original and not
  plagiarised from any other source.
∙ You must be above 18 years of age.
∙ The award is open to all irrespective of nationality.
∙ Your final presentation to the panel must include a detailed business plan and
  financial projections.
∙ The University will not be held responsible for any legal suits brought against the
  University by any third parties for any claims if the Contestants’ entry (ies)
  infringes the copyright or patent of any party (ies).

Funding

The funding for the award is provided and managed by the Limkokwing Foundation For Creative Excellence. This particular award will be managed as a revolving fund to which successful applicants whose businesses have become viable will be required to make a one-time contribution. This is to ensure that the award will continue to serve the needs of future applicants.

Enterprise Acceleration Centre

Successful applicants will be provided with facilities and support to work their ideas into a full-fledged business enterprise within a 12-month period. In the course of their apprenticeship they will be guided through the various processes by industry professionals and counsellors on financial, legal, contractual, procedural and other aspects of operating a business.

Successful applicants will be housed within this centre to carry out their activities. This will be fully equipped with Internet access, fax and secretarial support.