20th March 2012: Promising technology startups will be given the opportunity to pitch their innovative business ideas at the InnoTech Summit, an event launched to bring entrepreneurs and investors together, stimulating growth in the technology sector and promoting small enterprise in the UK.

Taking place at The Grand Connaught Rooms Hotel on 13th April 2012, the InnoTech Summit will attract combination of academics, innovators, entrepreneurs, venture capitalists and technology angels, providing a platform to network and discuss the latest developments in technology.

The Venture Capital Club of Hult International Business School, co-ordinator of the event, has opened a contest to budding technology entrepreneurs ahead of the summit. The top five applicants will be given the opportunity to present their idea to a ‘jury’ of industry dragons at the event and compete for three prizes up to the value of £5,000.

Jennifer Arcuri, Founder of The InnoTech Summit and MBA student at Hult said: “Startups are facing major challenges in today’s market, especially graduates at the onset of their careers. Our goal is to build a platform for entrepreneurs to develop, fund and build their company through the use of disruptive technologies. This competition follows in the spirit of the event by giving these entrepreneurs the stage to pitch their ideas directly to people who can help bring them to life, but also by providing mentors to nurture small business, and in turn, innovate the future of hi-tech.”

The InnoTech jury will be made up of representatives from the UK’s leading venture capitalist companies and educational establishments including; Hamilton Bradshaw Venture Partners, Oxford Capital Partners, EMC, Pond Ventures, DN Capital, Bridges Ventures LLP, Balderton Capital, Albion Ventures, Doughty Hanson & Co and City University London. The winning companies will be awarded prizes including ongoing mentoring and office space provided by Innovation Warehouse.

Charles Irving, founder of Pond Ventures and member of the jury said: “Growth potential definitively exists in the UK with the talent from our start-ups and the venture capitalists to back their ideas. This competition is a perfect opportunity for entrepreneurs to kick-start their businesses and I look forward to seeing what talent is out there as well as being a part of the success we will no doubt see from the winners.”

Hopefuls are asked to submit their ideas via the InnoTech website by Monday March 26th. The shortlist will be announced on Thursday April 5th 2012. For more information about the InnoTech Summit, the start-up competition and its prizes, please visit http://innotechsummit.com/

For all media enquiries, please contact: Charlie Hamilton, Sarah James or Richard Botley at Liberty Comms, T: 0207 751 4444 / E: innotech@libertycomms.com

Twitter: #innotechsummit.com

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Hult International Business School is the world's most international business school with campuses in Boston, San Francisco, London, Dubai, and Shanghai. The School offers a range of business-focused programs including MBA, Executive MBA, Master and Undergraduate degrees. Hult’s one-year MBA program is ranked in the top 30 in the world by The Economist and among the top 100 by the Financial Times.