You have an existing enterprise competition or module that undergraduate/graduate engineers, alumni and researchers can take part in. Ideally, the competition will have the ability to increase the number of participants as a result of the Engineers in Business competition prize fund.
Your competition does not need to be tailored towards engineers or adapted in any way to meet EIBF criteria.
Prizes are normally awarded to first, second and third place winners (team or individual) so your competition should be able to rank and identify the winners as part of its standard assessment process.
It is also important that the number of participating engineers can be measured and compared to earlier years.
If your competition structure does not do the following, please contact the EIBF Office to discuss.
You will need to promote the Engineers in Business prize as part of your enterprise competition/module to undergraduates, graduates, researchers and alumni. EIBF will provide support for promotion in lecture notes, e-newsletters, posters, intranets and websites and social media.
Four years after its launch, the Engineers in Business competition prize fund was expanded from £12,000 to £700,000, enabling EIBF to award many more universities a £3,000 prize fund to support enterprise education.
The funding enables universities to encourage more engineering undergraduates, graduates and postgraduates to participate in business ideas competitions and reward those who create the most imaginative solutions to real problems.
In 2019, EIBF increased its support from 4 to 32 universities which have been awarded £135,000. The increase in the number of universities integrating Engineers in Business prizes into their business ideas competitions shows the appetite for the fund and its value to the universities. Key to the success of the prize fund is EIBF's philosophy of supporting the universities own competitions/modules.
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"EIBF promotes the importance and value of business education for engineers in order to improve people’s lives and the performance of the UK and global economies. EIBF empowers engineers to become leaders in UK industry, helps them achieve their full potential and attain career goals."
President, Engineers in Business Fellowship