5TH BRIGHT IDEA AWARD 2020

The Irish Hungarian Business Association Bright Idea Award 2020 for the best business idea by a small enterprise in Ireland with connections to Hungary is now open for applications.

The Award of €1000 be given to the individual or business entity (sole trader, partnership or company) on the island of Ireland judged to be the best, as well as showing significant commercial promise.

The IHBA BRIGHT IDEA Award is open to all members of the IHBA, Irish or Hungarian. (To join the IHBA see www.ihba.ie). Hungarian entrants need to have a recognized presence in Ireland, and Irish entrants should already have a profile relating to Hungary. In all cases, the number of employees has to be less than 20.

All competitors are winners through participation and will benefit from meeting and networking with fellow entrepreneurs.

A shortlist of the best applicants will make a presentation during the Business Networking event on 28th of April 2020 and the Award will be presented to the winner at the same event.

THE PRIZE AND BENEFITS

Recognition – Endorsement to your business, with a certificate to all shortlisted

Experience: Business planning and pitching

Visibility: IHBA community, social media, website, PR

Connections: Needs to be an IHBA member to apply

BIA Prize: €1000 for the winner!

SCHEDULE

20 March – Application Deadline

7 April – Shortlisted will be announced

28 Apr 2020 – Business Pitches & Awards ceremony

REQUIREMENTS

  • Project Concept Summary ( Brief Business Plan ) in 3-5 pages in pdf format
  • Document in English language
  • Company registration number where applicable
  • Submission of pdf document no later than 20th of March 2020 via email to  ihba@ihba.ie
  • If you have any questions or queries, please do not hesitate to email us or message us through our Facebook page.
  • The applicant must be a member of IHBA.

APPLICATION GUIDELINES

DETERMINATION

A real sense of passion & enthusiasm for the business jumping off the page

VISION

A clear vision for the business

SWOT

Keep in mind the  4 /7 P’s of Marketing  (Product, Price, Promotion, Place + Process, Physical evidence and People  (for Services)

CLARITY

Make sure you are clear on the concept and that an external person will understand it.

PRESENTATION

You can demonstrate your business plan.

CLEAR REVENUE MODEL

Where do you make the money? Where do your sales come from? What is your pipeline like? We would like to see a draft sales projection for your business.

SCORING

Score sheet of the maximum 100 points:

  • The originality of BRIGHT IDEA 30 points
  • Commercial potential 20 points
  • Business proposal 20 points
  • Clarity of Submission 15 points
  • Presentation (5 Finalists) 15 points

The IHBA reserves the right to amend or alter the rules of the competition as it sees fit. The decision of the judging panel is final.

The IHBA WILL SUPPORT YOU THROUGHOUT THE APPLICATION PROCESS

If you have any questions email us to ihba@ihba.ie


Bright Idea Award 2019

We are thrilled to announce now that the winner of the IHBA-Pannonia Bio Bright Idea Award 2019 and the winner of the €1000 prize is

🏆Andaluzia Rampelt / Next to the Library Café Monasterevin Monasterevin🏆

Well done to Szilvi Kovács / Trip 2 Go for the excellent presentation and congratulation on her achievements.

Huge thanks to Pannonia Bio for sponsoring the event.

BRIGHT IDEA AWARD FROM PREVIOUS YEARS