Networking: Budding entrepreneurs have been invited to enter the Irish chamber’s business pitch competition.
The Ireland-Luxembourg Chamber of Commerce has launched its “ILCC Innovation Contest”, which according to the chamber is “based loosely on the Dragon’s Den concept of pitching ideas to potential investors with market experience”. The ILCC presented the contest during its summer networking event Tuesday evening.
A “pitch event”--which is the day successful applicants will pitch their idea in front of a panel called the “Dragons”--will take place on October 10.
The ILCC explained the idea behind the contest is to “promote the concepts of innovation, entrepreneurship and pitching business ideas”.
The only condition for applying to the pitch event is that the project needs to be operated from Luxembourg: “there are no restrictions regarding the business sector, whether it is product or service-based and whether the participants are ILCC members or not,” the chamber specified.
All applicants for this contest must have completed four steps before applying: market research, product prototype, financial business plan and having the ability to deliver a pitch.
There will be a first selection after the applications deadline on September 15 to decide who will pitch in front of the Dragons and who will not.
After the five minute pitches given by the participants, on October 10 the “Dragons” will deliberate to choose the winning pitch or pitches.
“Judging criteria will be along the four basics steps, with the individual “Dragons” bringing their own market expertise to their critiques and decisions,” said the ILCC. “The pitch event will be followed by a networking reception during which the winning pitches will be rewarded”.