What is the Start-Up Idea of the Year grant?
Enterprise Nation is collaborating with Monzo to provide financial support to help you develop your next business idea, game-changing new product or service, or growth strategy.
Three small businesses will receive cash grants: £10,000 for first place, £8,000 for second and £7,000 for third.
Applications are now open – please submit by 28 February 2025.
What are the prizes?
Start-Up Idea of the Year will distribute £25,000 to support small businesses and entrepreneurs in the UK with their next business idea, product or service. The grants will go to three winners:
- First place: £10,000
- Second place: £8,000
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Third place: £7,000
Eligible applicants will receive a free six-month subscription to a Monzo Business Pro bank account. This offer is subject to Monzo’s Ts&Cs and eligibility criteria, and is only for new Monzo Personal and Business customers. Enterprise Nation will notify eligible applicants when the offer is ready to be redeemed.
*All applications will be subject to Monzo Business Banking eligibility criteria. Use of account will be subject to T&Cs.
Who is eligible for a Start-Up Idea of the Year grant?
To be eligible to apply, your business must:
- be based in the UK
- have a UK business bank account or be willing to open one if you win
- be a registered business or registered as self-employed with proof of UTR
- have been trading for at least three months and no longer than 72 months
- not be undergoing insolvency, examinership, receivership or any related or similar process, and
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if requested, be willing to share its success story of how it used its cash grant (Monzo may use and/or publish these details further for various purposes such as marketing, advertising and PR)