Prize Money: €13,000 cash
The MTU Prize for Innovation is open to all registered MTU students.
Can be part of coursework/project
Individuals or groups can apply for the competition and can be from any year of study or discipline
MTU Entrepreneur of the year (€4,000)
Overall winner(s). Best overall score across all categories, best presentation and Q&A session on the day of final interviews
Best Business / Market Opportunity (€1,500)
Project demonstrates that there is market demand for the product/service, and the project if implemented would provide a commercial sustainable return for the promoter
Best Concept (€1,500)
This prize is for a novel & innovative submission, which demonstrates a solution to a problem which is clever in thinking and deployment. It should prompt the question as to why no one has thought of this idea before.
President’s Award (€1,000)
This prize is awarded to the submission that was not completed as part of a college module / assignment.
Best Design Award (€500)
The prize is for an idea which deploys a high standard of design. This award winner can be, but is not limited to physical products, but can include software, blueprints, creative multi-media, art, app design, music or deployment of a service.
Best Prototype Award (€500)
Awarded to the submission with the best completed / partially completed prototype.
Best live pitch on Innovation Day (€500 on each campus)
Judged on Innovation Day on both Cork and Kerry campuses. 60-90 second pitch. Ability to succinctly explain what the project/ business is all about and ability by team to field questions
Best Exhibition Stand on Innovation Day (€500 on each campus)
Judged on Innovation Day on both Cork and Kerry campuses. Most informative, appealing, effort shown
Best cross campus project (€1,000)
Team must consist of at least one student based in one of the Cork campuses and at least one student based in a Kerry campus
Social Enterprise (€1,000)
A social enterprise is an enterprise whose objective is to achieve a social, societal or environmental impact, rather than maximising profit for its owners or shareholders.
CLOSING DATE FOR APPLICATIONS: February 12th 2022
Awards Ceremony: Innovation Day, Friday 4th March 2022
MTU Prize for Innovation
Competition and Requirements and Rules 2021/22
1. How to enter
All teams/ individuals are expected to abide by the specific rules listed below. The competition organizer's reserve the right to disqualify any team or candidate that violates the rules, regulations or the spirit of the competition. Eligibility is subject to individual review for special circumstances. The adjudicators’ decision is final.
2.1. Undergraduate, postgraduate and part-time students from a course in MTU are eligible to enter the competition. Proof of registration at MTU will be requested from all short-listed candidates.
2.2. Candidates must be actively involved in the project.
2.3. Teams can seek advice from mentors or outside experts, but the project must be entirely student-led.
2.4. All team members listed on the final project/business plan will be considered full team members with equal share of the project, unless otherwise stipulated in the project plan.
2.5. A project or team that has previously entered the MTU Prize for Innovation Competition may not re-enter this year's competition with the same project.
2.6. Team members competing must be principle owners of the project.
2.7. All project/business plans must be written in English
3. Requirements for Team
3.1. A team may consist of MTU students from any faculty or constituent college.
3.2. We encourage students to work with students from other departments and schools in MTU.
3.3. It is encouraged that teams do not exceed more than five members; however larger teams will be accepted. Each team must nominate a maximum of five team members for presentation to the judges in March 2022. Please note that each team must also nominate a maximum of five team members to be present on the stand on Innovation Day Friday 4th of March 2022. All students in the team will be recognized with a certificate and equal credit and share of award.
3.4. Team members must remain the same throughout the competition.
3.5. Students may not participate in more than one team.
4. Submission Guidelines
4.1 Please ensure that your application is finalized before the deadline otherwise it will not be counted.
5. Assessment Criteria
A selection panel, consisting of entrepreneurs and business people along with representatives of the sponsors will shortlist entries on the basis of the business plan submission and the video clip pitch. Short-listed entrants will then proceed to the final stages of the competition.
6. Confidentiality and Intellectual Property Guidelines
6.1. If the product/business has patent potential it is recommended that students seek Intellectual Property advice to ensure their product/business is protected prior to any potential disclosure through presentations and/or display at Innovation Day (awards ceremony).
6.2. Innovation Day and the Awards Ceremony of the competition is open to the public and may be broadcast to interested persons through media, which may include radio, television and the Internet. Any data or information discussed or divulged at the awards ceremony by entrants should be considered information that will likely enter the public realm, and entrants should not assume any right of confidentiality in any data or information discussed, divulged or presented at the awards ceremony.
7. The Final
Short-listed candidates will be required to present their projects in person to a judging panel drawn from the business community, distinguished entrepreneurs and sponsor representatives in the final of the competition. Please note that final presentations will take place on Innovation Day, Friday 4th March 2022. The coveted title of MTU Entrepreneur(s) of the Year will be announced, together with all the winners, at a high profile awards ceremony on Innovation Day, Friday 4th March 2022. All participants (even those who are not shortlisted) are required to be present for the awards ceremony where the adjudication of best exhibition stand will take place. All participants will be considered for the Best Exhibition Stand Prize Category on Innovation Day.
- Final presentation guidelines will be distributed to short-listed candidates as the competition progresses.
- Exhibition guidelines will be distributed to all participants prior to Innovation Day.
- A media relations campaign will publicise, to the widest public audience, all the projects selected to go forward to the final stage of the MTU Prize for Innovation, which is sponsored by the Cork LEOs(North & West Cork, South Cork and Cork City).
- Note: If there is not a sufficient quantity or quality of projects received under any prize category prizes maybe reallocated to a new category.