What are the prizes?
StartUp Idea of the Year will distribute £25,000 to support small businesses and entrepreneurs in the UK with their next business idea, product or service. The grants will go to three winners:
First place: £10,000
Second place: £8,000
Third place: £7,000
Eligible applicants will receive a free six-month subscription to a Monzo Business Pro bank account. This offer is subject to Monzo’s Ts&Cs and eligibility criteria, and is only for new Monzo Personal and Business customers. Enterprise Nation will notify eligible applicants when the offer is ready to be redeemed.
*All applications will be subject to Monzo Business Banking eligibility criteria. Use of account will be subject to T&Cs.
Who is eligible for a StartUp Idea of the Year grant?
To be eligible to apply, your business must:
be based in the UK
have a UK business bank account or be willing to open one if you win
be a registered business or registered as self-employed with proof of UTR
have been trading for at least three months and no longer than 72 months
not be undergoing insolvency, examinership, receivership or any related or similar process, and
if requested, be willing to share its success story of how it used its cash grant (Monzo may use and/or publish these details further for various purposes such as marketing, advertising and PR)
For full conditions of entry, please refer to the T&Cs. Note: The cash grant is taxable and winners are responsible for covering any tax liability.
