Venturefest Manchester is once again inviting businesses within Greater Manchester to participate in its prestigious Innovation Showcase competition. The event provides a significant platform for creative enterprises to gain visibility and recognition.
With categories designed for both start-ups and scale-ups, competitors have the opportunity to win valuable business support packages. The competition not only rewards innovation but also fosters an enriched network environment for participants.
Overview of Venturefest Manchester
The Venturefest Manchester competition represents a remarkable opportunity for businesses in Greater Manchester to showcase their innovations. This annual event, orchestrated by Business Growth Hub, is a high-profile platform celebrated for fostering business growth and inspiring entrepreneurial spirit. Participating in this event not only provides visibility but also offers an enriching environment for networking and learning.
Categories and Rewards
This year, the competition features two distinct categories: the Best Start-up Business for companies trading under three years, and the Best Scale-up Business for those established for three or more years. Each category winner receives a substantial business support package valued at £20,000. This support is designed to catalyse further growth and development, offering strategic advantages to the winning enterprises.
In 2016, Digital agency Nothing But Epic emerged victorious in the Innovation Showcase, securing a £30,000 prize for their innovative Padoq app. The app facilitates the creation of functional social communities, demonstrating the potential impact of the competition’s rewards.
Impact on Previous Winners
The triumph of the Nothing But Epic team underscores the transformative potential of the Venturefest competition. Their success story includes securing investment rounds and expanding their team, leading to national recognition.
For runner-up Swifty Scooters, the competition led to enhanced growth and operational expansion. Co-founder Jason Iftakhar revealed that participating in Venturefest resulted in increased revenue, new staff hires, and an upgraded website. The company also plans to expand its market reach by launching in multiple currencies and languages.
Growth and Expansion Opportunities
VST Enterprises, who secured the third place, exemplifies how exposure can lead to international opportunities. Under the leadership of CEO Louis-James Davis, the company achieved significant milestones, including fundraising rounds that immensely valued the firm. The company’s expansion includes establishing offices in India and Africa and engaging in high-level trade missions.
Davis emphasised the importance of seizing opportunities such as Venturefest, highlighting how it directly paved the way for new business avenues and expanded their global footprint.
Application Process and Deadlines
Participation in the Venturefest Manchester competition is open to all NorthWest-based businesses. The process is straightforward, requiring an online application form available on the official Venturefest website. The deadline for submission is the 30th of June, providing ample time for companies to prepare compelling entries.
Shortlisted entrants will benefit from dedicated pitching advice, culminating in a presentation at the upcoming Venturefest Manchester event. This not only enhances their pitching skills but also prepares them for the competitive business environment.
Significance of Business Growth Hub
The Business Growth Hub plays a pivotal role in driving the competition and its effectiveness. As part of the Manchester Growth Company, it supports ambitious SMEs in Greater Manchester through initiatives like Venturefest. Projects are partly financed by the European Regional Development Fund, assisting businesses in achieving growth while fostering regional economic development.
Through these initiatives, businesses gain access to essential resources and connections, enabling them to navigate and thrive in the competitive market landscape.
Invitation to North West Businesses
The opportunity offered by Venturefest Manchester extends beyond mere competition; it is a call to action for North West businesses to elevate their ambitions and seize growth opportunities. Participation is uncomplicated and free, making it an accessible platform for showcasing innovation and industry prowess.
Venturefest Manchester is a catalyst for business growth and development in the North West region. By providing a platform for innovation and connectivity, it empowers enterprises to aspire and achieve new heights.
Participating businesses can expect to gain invaluable exposure, potential investment opportunities, and significant growth. Venturefest continues to be a driving force in invigorating the entrepreneurial spirit of Greater Manchester.
