There’s less than a week to go until the Government’s Innovation Launch Pad competition closes.
If you haven’t heard about the competition, don’t panic just yet. I have provided some crucial information below.
So here’s the deal: SMEs from around the UK are invited to submit a 500 word proposal explaining how their goods and services could help save the government money or deliver better outcomes. The best ideas will be handpicked by a community of civil servants.
Six of Britain’s top entrepreneurs, including serial investor Hermann Hauser, Autonomy’s Mike Lynch and venture capitalist Jon Moulton will help the selected companies to build their business proposals by coaching them through the process. The businesses will then present their ideas to a Dragons’ Den-style panel of senior government business officials, although I doubt there’ll be anything quite as quirky as Levi Roots’ Reggae Reggae Sauce winning them over.
All jokes aside, it is good to see the Government looking for ways to open its doors to the fantastic services and products our country’s small businesses have to offer, and hopefully the training from the veteran entrepreneurs will ensure only the best ideas get through to the final round.
The Government has thrown down the gauntlet with this latest competition and it is up to small businesses to grasp the opportunity in both hands.
If you need a little encouragement, I’ve got just the bit. In his latest article for The Financial Times Private Equity Investor Luke Johnson, warns of the dangers of harking back to the past in business and advises, “By all means treasure experience, and learn from your blunders. But don’t wallow in nostalgia, pining for what might have been. Rather, go ahead and seize the day no matter what.” Inspiring words for all….