Have a good internet idea? Here’s €10,000
An Irish firm is offering €10,000 for a good business idea – and there’s no catch!
That’s the deal from internet experts iQ Content who have established the iQ Prize, for the country’s best new tech idea.
“iQ Content was born in the last great tech recession of 2000, so we know how hard it is for startups. But we also think recessions are a great time for creativity, good ideas and starting sustainable businesses,” says Morgan McKeagney, co-founder and managing director of iQ Content.
And, Dragon’s Den fans, these business mentors aren’t even looking for a slice of your business – they don’t want any equity stake, nor will they invest, they just want to stimulate growth in the industry, when it most needs it.
“We're doing this because we can, and because we think it's timely and worthwhile,” says Morgan. “Ireland really needs this right now. And yes, it is altruistic. Our company has been very successful, and we wanted to give something back.”
The iQ Prize, which the organisers hope will create a catalyst to tap into Ireland’s tech talent, is open to any individual or company, permanently based in Ireland.
The money will go to the entry judged as the best business plan for an internet start-up. It can already be an existing idea or web application, iQ Content will help you turn it into a viable business.
“We're not investors. We're not venture capitalists. We're not looking for equity and we don't want any intellectual property. There's no catch. There are no strings. What we'll get is goodwill, hopefully,” adds Morgan. “We wanted to keep the barriers as low as possible, and get as many people as possible engaged. If the winner wants us to get involved at a later stage, that’s no problem, and whether people win or not, we think it’s a great thing for them to have gone through.”
The six judges, to be announced in the coming weeks, will be representatives of large multinationals based in Ireland (two), from indigenous internet companies (two), and one representative from a large international internet firm, along with Morgan McKeagney.
The idea itself can be anything that’s internet-based, from a new application to a novel e-communications plan, or a new way of distributing content. Ireland is at the cutting edge of internet ideas, says Morgan, and now is a great time to tap into that.
What’s more, it’s totally up to the winner what you do with the €10,000, so get your techie thinking caps on, and get more details from www.iqprize.ie.
The final date for completed entries is May 12th and the shortlist will be announced on June 10th, with the winner unveiled on June 25th.
iQ Content was founded in July 2001 and since then has become one of Europe's leading internet consultancies, averaging year-on-year revenue growth in excess of 200pc.
The company has an impressive client-base, including several government departments, the Office of the Attorney General, Bupa, Vodafone, AIB, Deloitte, and Permanent TSB.
This is the first year of the iQ Prize, but Morgan McKeagney doesn’t rule out it becoming an annual event in the Irish techie calendar, either. “We will see how it goes, it’s ‘suck it and see’ time first.”
