1m prize on offer for next generation


Friday is the deadline to enter a new contest worth 1 million.

Launchit 2001 is looking for the next generation of IT entrepreneurs and is hoping to find them in places like Cambridge.

The contest is being put together and funded by Cross Atlantic Capital Partners and Brainspark, an internet and technology incubator, which has offices in the city.

Both finance and mentoring are on offer for the winners, and other backers include Hewlett Packard, McDermott, Will & Emery (London and US-based lawyers), Pearson Education, and Silicon Valley Bank.

The contest is nationwide and the winners will receive between 100,000 and 500,000.

Entries have to be beyond the initial research stage and should be about new enabling technology, internet infrastructure, enterprise software, or e-communications and wireless infrastructures and applications.

Each team has to include a student or member of the academic staff, with outside senior management expertise considered an advantage.

The deadline for a two-page executive summary is Friday. By April 6 selected entrants will be asked to submit a full business plan. The awards dinner will be in June. Try http://www.launchit2001.com