Prize Money: €14,000 cash
The MTU Prize for Innovation is sponsored by the Cork LEOs (North & West Cork, South Cork and Cork City) and the Kerry LEO.
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
Best Business Opportunity €1,500
Best Concept €1,500
President’s Award €1,000
Best Pitch €500 (Each Campus)
Best Design Award (€500)
Best Promotion of Pitch €500
Best Exhibition Stand €500 (Each Campus)
Best Prototype Award €500
Social Entrepreneurship Award €500
Most Positive Environmental Impact €1,000
CLOSING DATE FOR APPLICATIONS: February 13th 2023
Awards Ceremony: Innovation Day, Friday 3rd March 2023
MTU Prize for Innovation
Competition and Requirements and Rules 2022/23
1. How to enter
Entry to the competition is through an online form and can be acceded by clicking on the link found on http://enterprise.cit.ie
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 2023. Please note that each team must also nominate a maximum of five team members to be present on the stand on Innovation Day Friday 3rd of March 2023. 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 these final presentations will take place on Thursday 2nd March 2023. 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 3rd March 2023. All participants (even those who are not shortlisted) are required to be present at the awards ceremony where the adjudication of best exhibition stand and best live pitch will take place. All entries will be considered for the Best Exhibition Stand Prize Category and Best Live Pitch 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) and the Kerry LEO
- Note: If there is not a sufficient quantity or quality of projects received under any prize category prizes maybe reallocated to a new category.