Transatlantic partnership launches new innovation contest for Birmingham techs

AN innovation contest aimed at start-up technology businesses in Greater Birmingham has been set up by a new transatlantic collaboration.

Innovation Birmingham Campus has forged a new alliance with the DMZ at Toronto’s Ryerson University to launch the Next Big Idea Contest.

Sponsored by NatWest and Wragge Lawrence Graham & Co, the competition, which is also aimed at Canadian techs, enables winning tech entrepreneurs to spend a fortnight at its sister incubation centre. From there they will assess international opportunities, meet with expert advisers and scope ways to expand their businesses on a global scale.

The launch of the contest follows the signing of a Memorandum of Understanding between Ryerson University and Innovation Birmingham earlier this year to provide global opportunities to tech start-up communities.

“The DMZ offers start-ups tools and an environment for success, including an unparalleled network to grow both in Canada and abroad,” said Sheldon Levy, President of Ryerson University.

“We are very excited to launch this contest with Innovation Birmingham, giving young innovators an opportunity to make valuable connections worldwide and to expand their business on a global scale.”

Applicants from Ontario and Greater Birmingham will be assessed on innovative use of technology, market validation, and potential for rapid growth and international expansion.

David Hardman, chief executive of Innovation Birmingham Campus, said: “When visiting Toronto’s DMZ, it was evident just how similar the ethos, community and outputs were to the Innovation Birmingham Campus. The Next Big Idea Contest will present invaluable opportunities for early stage tech businesses with high growth potential.

“With the help and guidance of the teams of advisers and the peer networks in Toronto and Birmingham, the winning entrepreneurs will be able to expand on a global scale. The launch of this Contest is the first step in what we believe will be a very productive collaboration, benefitting early stage tech businesses.”

He said Ontario and Birmingham had both achieved major gains in economic output, educational achievements, and major foreign investment projects. Both are said to offer exciting business opportunities within vibrant, diverse communities.

Birmingham is home to over 34,000 companies, including almost 700 international firms that contribute to it being the fastest growing city in the UK. With the highest economic output in the country, entrepreneurs in the West Midlands have access to a wide range of resources such as investment opportunities, a large talent pool, and leading global businesses to help launch a successful start-up.

Andy Lee, NatWest’s Regional Enterprise Manager for the Midlands and East of England, said: “We are delighted to be sponsoring the Next Big Idea Contest, which is a fantastic opportunity for tech start-ups in Greater Birmingham to learn more about global opportunities.

“We commissioned a report last year on the opportunities and barriers for UK SMEs around exporting which found that, while more than 80 per cent of them recognised its importance to the economy, only a quarter saw it as a key part of their future. We work hard to help our customers grow through selling to new markets and we welcome the opportunity to be a part of a contest which shares our aims.”

The contest is open to tech start-ups based in Ontario and Greater Birmingham. For contest eligibility and to apply, firms should visit http://uk.nextbigideacontest.com/

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