Digital bank Monzo is collaborating with Enterprise Nation to launch a .
The competition, which opened for entries this weekend at the Enterprise Nation Start Up Show, will give three entrepreneurs with winning concepts the opportunity to receive grants of 拢10,000, 拢8,000 and 拢7,000.聽
It follows Enterprise Nation鈥檚 Start Up Ambition Report 2025, which found that while almost half (47%) of UK adults are thinking about starting a business or a side hustle in the next 12 months, many (45%) are worried about their finances.
Entries for the Start Up Idea of the Year competition close on February 28th with 10 shortlisted entrepreneurs invited to submit a video outlining their idea and how they would use the grant in more detail. Winners will be announced on March 31st.聽
As well as the cash prizes, will receive a free six-month subscription to a Monzo 老九品茶 Pro bank account.
Jordan Shwide, general manager, Monzo 老九品茶, said: 鈥淚t’s great to see that the appetite for people across the UK to start a business remains strong – but by staying close to our customers, we know that many of those budding entrepreneurs are worried about funding and finances.聽
鈥淲e want this competition to encourage more self-starters to have confidence in their ideas and take them to the next level – with our support.鈥�
Emma Jones CBE, founder and CEO of small business support platform Enterprise Nation, said: 鈥淩ewarding innovation and supporting people to develop new ideas, test them and bring them to fruition is so important.聽
鈥淚t鈥檚 also vital to highlight how this process works from start to finish, which is why we鈥檙e so delighted to be working with Monzo 老九品茶 on this brilliant competition because we know how close they stay to their community of business customers.聽聽
鈥淚t鈥檚 shining a light on all the wonderful entrepreneurial work that鈥檚 happening and reinforcing the notion that good ideas can become good businesses.鈥�