Converge Challenge

The Converge Challenge is primarily a business creation competition and entrepreneurship development programme for staff, students and recent graduates of all Scottish universities and research institutions.  

Applicants are asked to attend a 2- or 3-day business course, depending on the category they enroll in (see eligibility criteria for each category below), and submit a business plan (including financial forecasts and a 1-minute pitch video). Depending on the category, they may also attend a full-day business consultation, and be asked to pitch their idea at an “Elevator” event. Finalists of all categories are invited to participate in a promotional film and photoshoot and attend the awards ceremony. They may also get to attend an additional day of business training, and asked to pitch their idea to a judging panel, or to a live audience at the award ceremony. The prize fund is £320,000 shared across the winners and runners up of the four main categories.   

One of the most important aspects of the Converge Challenge is the training programme. The first day of the training introduces participants to the fundamentals of business management, including business structure; how to pay yourself; employing other people; taxation; and accounting. The second day focuses on the basic corporate and commercial competencies, including quantifying commercial opportunities; estimating resources and timescales; cash flow; and building networks and teams. The third day focuses on identifying and targeting customers, market segmentation and competition. 

Participants also have an opportunity to have their business plans reviewed by partners, and some participants are awarded 12 months of one-to-one mentoring. 

Converge Challenge is open to staff, students and recent graduates (i.e. having graduated within 24 months of application date) of all Scottish universities and research institutions. It accepts applicants in any of the four following categories: 

1) The Converge Challenge targets new businesses that demonstrate high commercial potential and scalability. The category is for the most advanced business ideas, and is open to both product- and service-based ideas. Applicants must be able to demonstrate validation of their idea, customer engagement and a route to market. Commercialisation must be realised within 12 months of the Award. 

2) The Creative Challenge aims at innovative business ideas in creative industries, including advertising, architecture, visual arts, crafts, design, fashion and textiles, film and video, photography, music, performing arts, writing and publishing, software and computer games. It is aimed at innovative ideas that demonstrate individual creativity, skill and craft. Businesses should have the ability to start trading with 12 months of the awards and have the potential to develop into sustainable businesses. 

3) The Impact Challenge is open to innovative projects with a social or environmental mission. Businesses must have the ability to start trading with 12 months of the awards and have the potential to develop into sustainable businesses. 

4) The KickStart Challenge category targets early-stage, innovative projects that have the potential to become high-growth businesses. The KickStart category is open to both product and service-based ideas. Applicants must be able to demonstrate that their business idea is feasible, has unique selling points and that there is market demand. 

There are linkages between the KickStart Challenge and the three other categories of challenges. The winner of the KickStart Challenge is automatically qualified to the semi-finals of one of the other challenges.