The Innovator Launchpad award is targeted at charitable organisations or companies that have yet to turn a profit who can demonstrate they have created a “groundbreaking” solution to a business or social problem.
A £5,000 cash prize is on offer to the winner, along with £2,500 in IP services and a package of public relations support. Two runners-up will receive £1,000 of IP services.
Murgitroyd said its Facebook platform will create a space for innovators and entrepreneurs to share advice and information with their peers, and to access contacts and educational resources.
European marketing manager Fiona McKenzie said: “We are targeting the next generation of UK entrepreneurs with this initiative, and trying to make the platform as accessible as possible to them… with Facebook peer voting to decide the ‘top three’ who will go through to the formal judging stage and the awards ceremony taking place as a Facebook Live broadcast on 27 June.”
The final three will be judged by an expert panel including Dr Olga Kozlova, director of the Converge Challenge company creation initiative, which is aimed at staff, students, and recent graduates of Scottish universities.
“We would advise any prospective entrants to the competition to move quickly to submit their entries, as Facebook voting will close on 16 June,” added McKenzie.