Jump to Content

The Pank Prize for Entrepreneurial Activity

The winner of the Pank Prize for 2012 was James Martin, Insider Guides.

 

Think about applying next year, with applications opening later this year and closing in March 2013.

The generosity of the Pank Family and help from UniSA can help you to set up and run your own business.

Many people dream of owning their own business, but turning a great business idea into reality takes more than just hard work. A substantial part of setting up a new business is having solid finance and business acumen behind you. That's where UniSA can help.

Check the recent Pank Prize winners...

$30,000 support to start your new venture - Are you eligible?

The Pank Family provides $15,000 cash for UniSA students and graduates to turn innovative business ideas into reality! In addition, UniSA provides valuable support and mentoring valued at $15,000 (through the School of Management and through UniSA's commercialisation company, ITEK), to make your new business happen. (If you are forming a team, then your team can include people who are not a UniSA student or alumni member.)

Start early on your application

It is good to get an early start, as you will need to carry out primary market research to support your application. We suggest that, as a first step, you go through all the pages relating to the Pank Prize.

A few steps to realise your dream ...

Follow these steps in the application process. The links will give you access to detailed information.

  1. Come up with an innovative business idea.
  2. Decide whether to make an individual application, or to set up a team.
  3. Describe the key winning aspects of your business idea. Follow this link to an on-line form to give us an overview of your idea (Please note that this facility will become active only in October/November of 2012, when the Pank Prize is opened for 2013. In the meantime, check the questions you will need to answer, and think how you can develop this idea). Although you do not need to answer all the questions in one go, it is a good idea to prepare for this step - follow this link to see the questions you will need to answer
  4. Get feedback on your business idea from a UniSA mentor. You will get an email with comments on your business idea, or a phone call, after you have completed the on-line business idea form (make sure that you leave your contact details!) The aim will be to make sure that you have a business idea that has a good chance of winning the Pank Prize before you put more effort and time into your application.
  5. If your business idea looks like a winning one, write a feasibility plan using UniSA's document and financial templates. These pages step you through the process of developing a feasibility plan or business case for your business idea. These pages include many useful hints and ideas, besides providing a great learning exercise!
  6. Submit your application as an attachment to an email to UniSA. This needs to be done before the deadline (check the Heading for this page)
  7. We will let you know if your application is short-listed. In that case, you will be invited to present your application to the selection panel.
  8. If you are the winner, you will receive $1000 immediately to cover some of your start-up costs. You will then receive support and advice from a UniSA mentor over the next year. You will also be given access to ITEK's resources (this is UniSA's commercialisation company). You will also be asked to present a session as part of the "Enterprise Forum" series.
  9. Build your business. UniSA will support you through this process, and your expenses will be refunded up to the value of the Pank Prize, with the approval of your UniSA mentor. Check the information on this website that explains how the Pank Prize is administered, and what the winner is expected to do.

Recent Pank Prize winners

Further Information: Peter Balan

top^