Register for this scheme
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
- 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
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have a UK business bank account or be willing to open one if you win
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be a registered business or registered as self-employed with proof of UTR
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have been trading for at least three months and no longer than 72 months
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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)
For full conditions of entry, please refer to the T&Cs. Note: The cash grant is taxable and winners are responsible for covering any tax liability.
How do you apply?
Applications will open on 25 January 2025 and close on 28 February 2025. Simply complete the application form.
Enterprise Nation will shortlist 10 applicants. If you're selected, Enterprise Nation will contact you by email by 13 March 2025, asking you to submit a two-minute pitch video that explains how you'll use the grant.