Got a great business idea or concept? If you’re 16-25 and have a fresh and innovative technology-led idea for a business, or have started one already – then apply for the Verizon/Unloc Young Entrepreneurs Challenge 2022!

The Young Entrepreneurs Challenge brought to you by Verizon Business and Unloc is an annual event that seeks the best young minds from across Europe, young people with vision, social awareness, and the ambition to achieve. Now in its 4th year, there’s never been a better time to put your ideas into action and reach for success!

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Prize from Young Entrepreneurs Challenge

• £10,000/€11,000* of funding for your start-up business
• A mentorship package to accelerate your idea
• Finalist runners-up will receive £1,000 of funding for your start-up business
• Ticket to the Global One Young World 2022 Tokyo Summit in Japan

*The actual prize fund will be dependent on the exchange rate at the time of the award.

Eligibility Required for Young Entrepreneurs Challenge

• Firstly, Open to individuals between the ages of 16 and 25 years on February 1, 2022.
• Secondly, Residents and/or citizens of a mainland European country.
• Thirdly, Business proposals must meet the following criteria:
  • Firstly, Be legal in all mainland European countries.
  • Secondly, Be either a pre-start (not yet trading); or not have been trading for more than 3 years and have an annual turnover of less than £100,000 on February 1, 2022.
  • Thirdly, Not have no purpose for political lobbying.
  • Be the applicant’s own idea and not infringe on the copyright, patent, or intellectual property of others.
  • Immediate family members of the judging panel are not eligible to apply.
  • Previous entrants who attended the Grand Final are not eligible to apply.

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Judging Criteria

Applications will be judged on three key factors:

• Viability
  • Can the plan achieve what it states it will do?
  • Does it operate within the budget/resources currently held or will acquired?
  • Is the idea investment-ready? How will you use the funding if successful?
• Tech innovation
  • Is the idea unique?
  • Does it have a clear unique selling point?
  • Is the technology solving the problem in a creative way or filling a gap in the market?
• Sustainability
  • Will the venture improve people’s lives?
  • Will it meet social or community needs in a new way?
  • Does it meet or sustain a UN Sustainable Development Goal (SDG)?

Application Details of Young Entrepreneurs Challenge

• Simply record a short video of yourself that’s at least 60 seconds and a maximum of 90 seconds long – remember to explain how your idea meets the three criteria!
• Hit the apply button
• Fill out the application form and submit your video
• Sit tight and wait to hear from the judges: finalists are announced on February 1, 2022.

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Lastly, It is important to visit the official website link found below to access the application form.

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