Verizon Business and Unloc have launched the 2025 edition of The Young Entrepreneurs Challenge, a competition aimed at identifying and nurturing young talent across Europe. The annual event, now in its seventh year, seeks out the continent’s most innovative business ideas from aspiring entrepreneurs aged 16 to 25.
The winner of the challenge will receive a £10,000 (€11,750) cash prize, as well as access to a comprehensive mentorship programme and a technology package designed to help them bring their business concept to life. The winner will also be invited to attend the prestigious Global One Young World 2025 Summit, which will take place in Munich.
The competition aims to inspire Europe’s next generation of business leaders by encouraging technology-led start-up ideas that address contemporary global challenges. The challenge is open to young people across Europe, who can submit their business concepts online.
Sanjiv Gossain, General Manager and Head of EMEA at Verizon Business, expressed the importance of supporting young entrepreneurs in today’s competitive landscape. “Each year, The Young Entrepreneurs Challenge showcases amazing young talent from across the UK and Europe. We are privileged to encourage and support the entrepreneurs of tomorrow,” Gossain said. “Young innovators often face difficulties in accessing funding and mentorship, so we are proud to help turn their ideas into reality and offer them the opportunity to present on a global stage.”
Hayden Taylor, Co-Founder and Chief Executive of Unloc, highlighted the significance of technology in addressing major global issues. “Technological innovation is rapidly becoming the driving force behind solutions for some of the most complex challenges in sustainability, climate change, and health. Investing in the next generation of leaders and their ideas is crucial for tackling these issues,” Taylor said.
Taylor went on to praise the calibre of previous entrants and expressed excitement for this year’s submissions. “Every year, we are blown away by the creativity and ingenuity of young entrepreneurs. With 2024 dominated by the rise of emerging tech, we are eager to see the innovative ideas that come through this year.”
Last year’s winner, Ethan Waisberg, impressed judges with his app, AngioGenius. The app uses a smartphone camera to take photos of a person’s eye and help detect and monitor the progression of eye diseases. Waisberg’s integration of generative AI into the app, along with his research with NASA astronauts, stood out to the panel of experts. The funding from Unloc and Verizon will enable him to carry out clinical trials, with the goal of reducing blindness worldwide.
To enter the 2025 challenge, applicants are required to submit a 60-90 second video alongside an online application form outlining their business concept. Entries will be judged on criteria such as viability, technology innovation, and sustainability.
Finalists will be invited to pitch their business ideas live in a grand finale in March 2025. The event will be judged by a panel of experts from both the business and education sectors.
Applications close on 17 January 2025 and can be submitted at www.youngentrepreneurschallenge.com.