INQ Mentoring Program
Creative Industries and Young Entrepreneurs Mentoring Program
The Creative Industries and Young Entrepreneurs Mentoring Program is for innovators, creators, artists and makers. We want to work with the most inspired creatives to ground and expand their visions and creative concepts into business reality.
Innovation NQ Inc (iNQ) in partnership with Townsville City Council (TCC) and with the support of the Phillip Leong Youth Programme invites local entrepreneurs to apply to a 9 week program designed to guide and navigate the pathway to launching your scalable business idea.
This is a fully sponsored programme thanks to the generosity of the partnering organisations, but numbers are limited, so apply today!
APPLICATIONS EXTENDED!!! CLOSES SUNDAY 14TH AUGUST 2016
The 2015 “Growing the creative industries in Townsville” report released by James Cook University and TCC acknowledged that the creative industries can make a substantial contribution to both growth and diversification of the Townsville economy without the need for large-scale investment in physical infrastructure.
The Philip Leong Youth Programme acknowledges and supports sponsored programs for young people (primarily aged between 15 and 26 years old) who reside within the city of Townsville and who have demonstrated potential excellence, talent, skill or achievements.
iNQ aims to create a physical, conceptual and social ecosystem to cultivate, connect, inspire and give traction to an emerging local innovative business community. This not-for- profit industry-led association is a part of an overall ecology – we often call it “the village” – which provides all that an aspiring entrepreneur needs to develop their ideas and grow business.
The Creative Industries and Young Entrepreneurs Mentoring Program brings together with its partners a program which provides local creative industry entrepreneurs and young entrepreneurs of any industry, access to professional mentoring support and financial assistance to fast-track their start-up from a ‘concept’ to a ‘market ready product’.
This fully sponsored 9 week program will be competitively run with a focus on creative industry entrepreneurs/startups with high-growth potential. Cash and services valued at over $15,000 will be awarded to the winning participant, with opportunities to pitch to investors and community leaders to progress beyond the Program’s timeline.
The Program will use experienced business mentors and quality facilitators, drawn from industry with relevant experience, to ensure entrepreneurs get the advice and support they need to successfully access the marketplace. Practical support for entrepreneurs includes advice from people with relevant private sector experience, funding to take advantage of growth opportunities and connection and collaboration opportunities.
Key goals of the program are to:
- Create tangible outcomes
- Expand creative industry success stories in Townsville
- Engage corporate partners
- Build relationships with government and key stakeholders
- Address global scale and opportunities
- Prototype – market readiness
Application Period (27 July – 10 August 2016) – brief written application and video pitch
Application Assessment and Announcement (2 weeks) – APPLICATIONS CLOSE 14 AUGUST
Program commencement: Tuesday 16 Aug
Weekly workshops and sessions will run 5.30 – 8pm at iNQ Central, Little Fletcher St, Townsville
Week 1 Introduction and Mentor Pitch Video Preparation
Week 2 Business Model Basics and Mentor Announcements
Week 3 Collaboration and Co-creation
Week 4 Financial Basics
Week 5 Risk and Strategies
Week 6 Financial Basics Continued (who pays, pipelines, burn rates) + Biz Tech Tools
Week 7 Intellectual Property, Brand Development + Portfolio Management
Week 8 Finance Continued (financial models, cash flows, capital investment and funding)
Week 9 Bringing It All Together – Growing the Business
Assessment of Submitted Pitches and Business Model Overview, Financial Summaries and Calls to Action
Final Pitch to Judges/Investors and Awards Event (11 Nov 2016 (tbc))
One winner will be awarded a cash prize and services valued at over $15,000.
Runner up prizes of mentoring and business support services will also be awarded.
The Fine Print:
Although there is a focus on creative industries, applications will be open to entrepreneurs of all ages, gender, background and experience.
Access to the program will be based on responses to the entry criteria and the merits of the proposed idea.
Eligibility Requirements are as Follows:
Applicants must be based in the Townsville North Queensland region and show their connections or backgrounds within the Creative Industries including:
- music and performing arts;
- film, television and radio;
- advertising and marketing;
- software development and interactive content;
- writing, publishing and print media; and
- architecture, design and visual arts.
Applications from people aged 15-26 years old may be from any industry
Applicants over 26 years and not in the creative industries described above may still apply, and will be considered on merit, depending on places available
Must have potential to develop business concept at scale (e.g. employ 3 people within 12 to 18 months)
Must be able to demonstrate a global vision
Can apply an individual or as a member of a start-up team
Must be able to demonstrate you have started working on their idea/ business via a current prototype, website, operating business.
Must commit to once weekly classes (Tuesday evenings 5.30 – 8pm) plus homework for 9 weeks starting mid Aug 2016
Tip: Support your application with a short 1 min video. email it to email@example.com, along with your name and details.
Proudly supported by the Queensland Government’s Advance Queensland initiative.