Opportunity profile: Tech award for early-stage entrepreneurs

A £40,000 award from the Royal Academy of Engineering is open. Knowing your market is critical, judging panel member Will Stewart told Penny Sarchet.

What is the ERA Foundation Entrepreneurs Award?

It’s an early-stage entrepreneur award to support something that has got beyond being just a good idea but is still emerging, usually in a university, and needs a bit of money. It’s not a large investment by start-up standards. We’re not venture capitalists, but what the award does is cover that difficult gap right at the beginning when you’re trying to get established. The value to the winner is obviously the money, but there is also the publicity and exposure you get from an ERA award, and the mentoring we provide for those who want it.