WorldLabs’ mission is to help ideas develop and grow by providing the funding, tools and connections needed to thrive. Too many promising entrepreneurial projects fall by the wayside due to lack of resources, help or funding. This is why the Elevating Ideas Competition was created; to give you the ability to showcase your idea, find valuable collaborators and gather the supporters you need to elevate your project to the next level.
- No idea is too big or too small.
- Projects can come from any field, and will not be judged based on your level of professional or entrepreneurial experience.
- Our award of £50,000 is designed to give your early-stage entrepreneurial venture an instrumental boost!
The Opportunity – what’s in it for you
The ‘Elevating Ideas’ winner will be awarded the generous amount of £50,000 and the plethora of benefits that come with it. But you don’t need to be awarded the first prize to be a winner. There are benefits in the Elevating Ideas competition for all participants.
- Publicity: Your project will get a publicity boost on WorldLabs and across all other media channels. Whether you are one of the shortlisted candidates or not, if we like your idea, it will be written about, talked about and reach a wide and engaged audience.
- Collaboration: Finding the necessary connections and establishing meaningful collaborations will be easier than ever before. You will get your idea noticed and be part of a network of team-members, co-founders and investors. We’ve also made the team up process smooth and simple, so you can find your ideal collaborator.
- Advancement: Establishing your idea on Worldlabs will help your venture grow beyond the duration of this competition. The same project will keep exposing you to a promising network of collaborators, partners, advisors and investors. You will be ready to enter new competitions and increase your chances of getting funding. We support entrepreneurial growth during and beyond the competition.
WorldLabs will select and invite the 10 shortlisted teams to London (all expenses covered) to pitch in front of a live audience and judges for the start up event of the year tailored to entrepreneurs. The day will culminate with the announcement of the Elevating Ideas Competition Winner.
How to apply
To be considered for the Elevating Ideas Competition, you must:
STEP 1. Complete your Project. Your idea should be outlined in a public Project, containing non-confidential information that showcases the uniqueness of your entrepreneurial venture. Your Project helps you garner public engagement, support and followers to your idea. It is an effective way to keep your startup alive and growing, even after the competition is over. A public, active and updated project will allow you to connect with collaborators, find inspiration, advice and grow sustainably. More information on how to create a project here.
STEP 2. Upload a 60-second video pitch. This is your opportunity to tell the judges why your product and/or service is unique, why it matters, and why they should support it.
STEP 3. Click on ‘Apply’ to submit your completed project and to answer our Competition Questionnaire. This is where you get a chance to explain your idea in more detail. Our questionnaire is utterly confidential, and the space to describe the feasibility of your idea, your business plans, and potential to scale.
STEP 4. Engage on WorldLabs. How proactive you are on the platform will reflect how committed you are to making your idea grow by finding collaborators, keeping track of your progress, and building a network of supporters. We encourage you to post regular updates on your feed, connect with people that can help you, share your venture across social media and even create team up posts if you are looking for someone to join your team.
Eligibility and requirements
We accept applications from candidates worldwide, regardless of the type of idea and the professional/educational background of the applicant.
For your project to be considered for the 2018 Elevating Ideas Competition, you must:
- Submit a completed application
- Be 18+ years old
- Have at least one representative of your team available to travel to London for Elevating Ideas 2018, 24th of November 2018.
Travel expenses for one member of your team will be covered by WorldLabs.
Applications (project, video pitch, and questionnaire) will be judged on the following criteria:
- 20% Clarity. Submissions should clearly describe the envisioned product or service. The benefits, as well as the technical details, of the idea should be emphasized. You may use images and videos in your Project to supplement your descriptions.
- 30% Innovation. Submissions should clearly state what is innovative and unique about the envisioned product or service.
- 40% Feasibility & Scalability. The ideas should be realistic, viable and scalable. Users should clarify the current state of the product/service idea, and outline the necessary research and development required for the next stage of commercialisation.
- 10% Engagement. We believe that digital proactivity reflects a commitment to developing your idea through the use of the platform’s tools. Therefore, projects will be partly judged according to the number of connections, likes, and followers they receive during the competition period. We encourage regular posts, sharing and showcasing of the idea.
Read more on World Labs Elevating Ideas Competition website