Future Gadget 2015 Competition

by Startacus Admin

If you’re anything like us, then you love gadgets. Little gadgets, big gadgets, useful gadgets, pointless gadgets; we love ‘em all.

So when an opportunity aimed at encouraging inventive thinking within the tech world comes along…we are all over it!

Future Gadget 2015

The Future Gadget 2015 competition, is giving people with imaginative tech innovations the opportunity to secure investment and TV advertising.

Worth Capital, in association with experts from The Gadget Show, are on the hunt for the next must-have gadgets, wearable technologies, and home gizmos that demonstrate imagination, innovation, and high growth potential.

It’s a rather interesting prospect because not only is Future Gadget a tech competition, but it also has a simultaneous crowdfunding campaign on Seedrs, which allows investors to contribute towards the funds needed to make up the prize fund. At last count they have raised £56K of their £320K target, which is just over 17 percent.

It may seem a rather odd way of doing things, but such is the confidence in this annual competition, that investors are willing to part with their capital before the winners have been announced, just to ensure they get a slice of the success.

What is up for grabs?

The competition will have one overall winner and two runners-up, all of whom will receive a substantial level of funding as well as other great benefits.

Some of the key details include;

• Up to £120,000 of investment from crowd investors

• £100,000 of TV advertising from Channel 5 for the winner

• A mentoring contract with Worth Capital gaining access to experts in the business world as well as our entrepreneurial community and events

• Nationwide TV exposure

• Presence at The Gadget Show live at the NEC amongst its 80,000 visitors

• A unique exhibition package at the Gadget Show Live in 2016

• The accolade of being the UK’s next gadget entrepreneur

Are there any strings?

Yes, quite a few!

It’s really important to be aware that, unlike some startup competitions, this is not a free meal ticket, and those who take part are required to trade some of their equity in exchange for the investment and other perks of being named a winner.
Worth Capital will take 7% of your venture and the level of equity taken by other investors, will be negotiated before the handing over of the cash. You will also be tied into a 2 year mentoring contract with Worth Capital at the cost of £15,000 per year.

Given these provisos and stipulations, this competition is certainly not for everyone, and we would advise that you give it some very deep thought before you decide to go ahead with an application.

It is however a great opportunity for the right product and could see your tech innovation becoming the next must have product!

The choice is entirely your own!

Who are they looking for?

It doesn’t matter what stage of development your product is currently at, whether it is still at the idea stage or is fully developed, the people at Future Gadget will want to hear from you.

You can complete an application on their website, or for more information about the competition, or becoming an investor, check out the Seedrs crowdfunding campaign which explains everything.  The closing date for entries is midnight on 23rd March 2015, so you'd better get your jet propelled skates on!

Check out the little video below for a better sense of what it's all about.

 

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Published on: 11th March 2015