IDEAS WITH IMPACT
Win up to £100k to turn your early-stage idea into a real venture.
  • £300k in prize funds available
  • Mentoring and expert support from founders and innovators who’ve been in your position
  • Networking opportunities to help you build connections to help your ideas flourish
  • Open to all disciplines

Read about our finalists

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The University’s Ideas with Impact Awards is looking to distribute up to £300,000 to student and staff entrepreneurs helping to solve the world’s most pressing issues.
Through this scheme we will offer individual awards of £100k, £50k and £20k to help turn bright ideas into social and economic enterprises of the future. Award winners will also receive support to translate their research and ideas into business ventures, access to experienced mentors, and support in building networks to accelerate impact.
All approaches to innovation are welcome, from engineering to health, from policy to creative.
Eligibility
The Ideas with Impact Awards are open for applications from any students, staff or alumni (within 3 years) from across the University who are working on solutions to global challenges. You must have ambition to translate your research solution into a social or economic enterprise and you must be at an early stage of your entrepreneurial journey.
KEY DATES
12th May
Awards launch and application opens
20th June
Application closes
27th June
Finalists announced
14th July
Finals pitching competition and networking event
01
What qualifies as early-stage?
Do you have specific criteria for what qualifies as an early-stage idea? What level of development is expected for an MVP at the time of application?

Early stage means anything from idea through to ~Series A. There should be at least some level of understanding of the problem the idea is going to address. Customer discovery or market research would be beneficial but doesn’t need to be extensive.
02
What happens after the competition?
Are there any obligations or expectations for winners after the competition ends, such as promotional activities or continued involvement with the University?

The winners will be expected to keep in touch and write a report/s on their progress and the impact of the funding.
03
How can funding be used?
Are there any restrictions or guidelines regarding how the awarded funding can be used (e.g. equipment, salaries, IP costs)?

The funding needs to be used to progress the idea towards impact. Costs like R&D, kit and salaries are all eligible. However, the funding cannot be used on IP costs, company incorporation, etc.
04
Can we sign an NDA?
Is it possible for all parties involved to sign an NDA to protect my idea and design?

We can look to get an NDA in place if needed.
05
Are there conditions or equity?
What are the conditions for funding? Is there an expectation that entitles percentage ownership?

There are no conditions other than reporting back on progress. No equity will be taken.
06
What support do winners get?
What support is offered to winners to help launch their ideas?

Incorporation into our innovation ecosystem and Founders Network, support with finding mentors and investors, and training opportunities.
07
Do we need to submit costings?
As it’s a prize, we’re working on the assumption that costings are not required. Should teams indicate what level of prize (£100k, £50k, £20k) they need to hit the next milestone or will this be at the discretion of the award panel?

Correct, no detailed costings are needed for Ideas with Impact. We would advise you to be explicit and ask for the amount you need to get to your next milestone, whether that be £20k, £50k or £100k. We suggest you detail a rough plan of what you would spend the award money on and where it would take you, which will demonstrate your pathway to impact from your idea. Different projects will be at different stages of their journey, and we know the majority will need additional investment / grant funding etc to achieve their final impact. Applicants need to demonstrate forward motion, and the amounts awarded will be at the discretion of the panel on the day.
The Ideas with Impact Awards are run in partnership between the University of Manchester’s Division of Development and Alumni Relations, Innovation Academy, Innovation Factory, and Unit M.