Engineers in Business (EIB) Competition Prize Fund

Engineers in Business Fellowship (EIBF) provides a £3,000 prize fund to individual universities and FE colleges that run business ideas competitions and modules that are open to engineering undergraduates, graduates and postgraduates. EIBF's charitable aim is to increase the participation of this group in business education to increase their knowledge of business and their employability.

How can we use the £3,000?

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Can we use some of the £3,000 to run and promote the competition to engineering students?

Do we have to adapt our competition to apply for the £3,000 prize fund?

Do the winning teams have to comprise only engineering students/graduates/postgraduates?

Can a team that has come up with a brilliant engineering idea, but does not include an engineer be awarded an EIB prize?

Can we award the full £3,000 to one winning team or individual?

We don’t have an existing competition. If we set one up especially, can we apply for the £3,000 funding?

Is there a time limit for running our competition?

Are both FEI/HEI engineering students eligible to participate?

Are engineering postgraduates, researchers and alumni eligible?

Can people from the wider community participate?

Are entrants/winners expected to turn their ideas into a real business?

Can an engineering student who develops a non-engineering product, such as a service or a food product, qualify for the prize?

Can an entrant who is a non-engineering student who develops an engineering concept win a prize?

Can any other faculties/degree disciplines apply for funding?

Do you provide collateral for the awards presentations (eg a giant cheque)

Are first prizewinners entitled to a mentor if they do not turn their idea into a real business?

Will EIBF send a representative to our awards ceremony?

When are the funds paid to the university?/Where do I send the invoice?

The competition prize fund is paid after the university submits its competition report to EIBF.   Invoices should be submitted to:

Cathy Breeze

Director of Communications

Sainsbury Management Fellows

Engineering in Business Fellowship

16 Western Road

Lymington

Hampshire, SO41 9HL

cathy.breeze@smf.org.uk


Please note that Engineers in Business Fellowship (EIBF) is a registered charity – number 1147203 and is a company limited by guarantee: 07807250. EIBF is not a VAT registered organisation.


EIBC GRAND FINAL


How is the prize money to be used by the Grand Final Winners?

EIBF makes no stipulations on the use of the prize fund. Any financial prize won may be used by the winners how they wish, whether that is to develop their innovation or their career, or something else. Prize money won by a team (as opposed to an individual) must be shared between the team members.

Can we submit a different business idea to the one we submitted in our university competition?

Can we person submit more than one entry?