The FINANCIAL -- In its quest to discover and help develop emerging
and early stage technology based start-ups, Cisco has launched the next
stage in its British Innovation Gateway initiative - The Big
Awards – Powered By Cisco I-PRIZE, according to Cisco.
With support from JP Morgan and other partners, the BIG Awards will take the form of an annual open innovation competition to discover and reward the finest examples of the UK's most innovative start-up digital businesses and SMEs. The overall winner will receive a total prize package of approximately $200k, made up of $100k cash, 12 months of mentoring from Cisco and a 12- month support package covering PR, marketing and legal services.
Runners-up and semi-finalists will also receive cash and technology prizes to support and accelerate the development of their brands and businesses.
The BIG Awards is the latest development in Cisco's British Innovation Gateway initiative, a significant five-year investment of cash, technology and human resources, which aims to develop Britain's innovation eco-system and create an environment in which start-up digital businesses and their ideas can flourish.
The Awards are held in partnership with JP Morgan, Bird & Bird, DNX and Octopus Communications and will take place annually throughout the five year duration to help create a community of innovative industry leaders.
The competition will run from 1 February 2012 until September 2012 and involves a four stage judging process. The final of the Awards will take place at a special event on 12 September 2012, where the six finalists will present their business plans live to a judging panel before the winner is chosen.
Open to individuals, groups of individuals and legal entities in the UK, applicants can enter their technology concept or prototype idea into one of five categories which represent some of the most relevant technology challenges and mega trends we are seeing across the globe today. For each category, the entry should showcase how the concept can benefit the public and private sector, utilising the network as the platform to deliver economic, social and environmental sustainability.
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