12 July 2012

old street, silicon-roundabout, tech-city

Million Pound Startup prize aims to be X Factor for new businesses

A competition launched in London aims to create a cross between X Factor and Dragon’s Den by offering £1m to a startup business.

The Million Pound Startup competition went live on Wednesday night in what Kam Star, one of its architects and prime movers, says is intended to spark competition and ideas from would-be and existing entrepreneurs.

Entry is open to any business around the world as long as they have not yet had an annual turnover of more than £1m – and if they promise to relocate to London if they win.

The competition is open to entries until 1 May 2013, and will be judged at the Digital Shoreditch event later that month.

>Another big chance to get funding for a startup idea, but it sounds a bit trivial, but then again nothing trivial about £1m.<

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