The Award

Encourage, reward and support innovation and creativity amongst local entrepreneurs
Identify innovative and fresh products, services, processes and new ways of working that have been developed in North Oxfordshire
Profile the benefits of this innovative and creative activity to the local economy
Provide meaningful and valued assistance to the commercial success of the innovation that has been developed

Local entrepreneurs who have developed innovative products, services, processes and ideas for new ways of working and require some help to realise or commercialise their ideas
Proposed start up businesses, new starts and/or existing businesses
Those who have created a working prototype, undertaken a successful market test or are currently marketing a new form of innovation
Innovation that has a realistic prospect of commercial success
Applications are welcomed from people who reside or have a business address in the North Oxfordshire area and have completed and submitted a signed, formal application form by the closing date

Closing date for applications is on Saturday 21st November 2009
Initial judging and selection of finalists mid December
‘Dragons Den’ type grand final and award presentation ceremony on Thursday 28th January 2010 in Whateley Hall Hotel, Banbury. The programme will be confirmed in early January 2010.

A panel of judges selected by the sponsors will:

Review all application forms received and where appropriate nominate individual judges to meet with the applicants to discuss their innovation and business plan generally
Select a short list of applicants to proceed to the next stage of the assessment process – a 15 minute presentation/question and answering session for the short listed candidates with a panel of judges. The judging panel will be chaired by Simon Phillips, CEO of Gusto Games, winner of the Oxford Creative Business Award and Young Person Award 2006
All finalists will be provided with coaching support as required in advance of the final selection process
Select an overall winner and runner up of the award

The winner will receive:

A trophy for retention donated by Cherwell District Council
£500 Cash Award from Simon Phillips of Gusto Games
One year's free business membership to the Banbury and District Chamber of Commerce

A selection of free professional/mentoring support services The Winner & Runner up will share the selection of prizes that follow:

The winner will receive airtime in the form of an interview and news content. An award feature will be produced on the Heart fm website about the finalists and the overall winner would receive their own page on the website
An experienced business mentor with an industry specific background providing ongoing support and guidance via six monthly meetings
Six coaching sessions with ongoing support to help develop the business in the early stages
Legal support to include advice on trading contracts, terms & conditions, employment contracts and product liability requirements via 3 meetings for this purpose
Advice and support for protecting Intellectual Property Rights of the new business/innovation via 3 meetings for this purpose
Taxation and accountancy support, to cover business and personal taxation, and to establish record keeping and business monitoring processes via meetings and correspondence, to an agreed value
Sales & Marketing advice to assist in identifying markets, marketing strategies and developing customer relationships via 3 meetings for this purpose
Profiling of the innovation throughout the local community
An office worth £2,500 at Colin Sanders, Bicester or Cherwell Innovation Centres