10th Bridge Richard Hallt Young Entrepreneur Award
10th Bridge is excited to announce an entrepreneurship competition designed to identify and invest in the most promising young entrepreneurs between the ages of 18 and 25. The competition is structured over four stages, with each stage designed to identify the most promising entries, culminating in a final event where one winner will be awarded a £25k investment in a new entity as an equal partnership with 10th Bridge.
10th Bridge is committed to using its experience to establish the start-up in equal partnership with the winning entrepreneur, ensuring a successful launch and operational setup. As part of our commitment to honouring Richard Hallt’s memory, 10% of the future net profits will be donated to UK Youth.
Richard Hallt Young Entrepreneur Award Competition Overview
In Stage 1 you will complete a Business Model Canvas to help you think about how your business idea will work. It will help develop your idea by considering the important parts of what makes a business work, how it will reach its customers, and how the business will make money.
As part of the application, we want to hear directly from you too! You will record a short TikTok-style video telling us more about yourself, your life experiences, and how you came up with your business idea.
Don’t worry if you don’t know where to start, 10th Bridge has designed a Business Model Canvas Guide to help you complete your Business Model Canvas.
We are looking forward to seeing great business ideas from everyone, but we will be shortlisting candidates for the next stage based on which businesses we think have the highest chance of success. It’s important to think about profitability of your business and its growth.Stage 2 is about expanding on your Business Model Canvas and turning it into a Business Plan. You’ll also have the chance to show your creative flair and design a pitch deck which summarises your Plan.
A Business Plan is a document that businesses use to share with investors when they are seeking investment. Completing one shows you understand your business, its market, and gives you the opportunity to show why your business will be profitable and grow. You’ll complete activities such as market research to support your Plan, and make financial forecasts to show the potential your business has in the next few years.
Just like Stage 1, 10th Bridge has created a Business Plan Guide to help you complete your own Business Plan. We’ve designed it to help you develop skills relevant for running your business such as having an entire view of your business and understanding how to make decisions based on what’s going on in your market.
We will review Business Plan based on which businesses we think have the highest chance of success and look closely at any claims you make about your market. All candidates will receive feedback on their Business Plan and recommendations on how they can improve them.The finalists will have a chance to make changes to their Business Plan before presenting in front of the panel. They will be assigned a member of the 10th Bridge team who will support them with tailored feedback on how to improve their Plan ahead of the Panel.
Finalists will also get the opportunity to get to know their potential Business Partner, 10th Bridge CEO Matt Price, ahead of the Panel. This meeting will be informal and in-person at our London office.The last stage of the Richard Hallt Young Entrepreneur Award Competition involves presenting in front of a panel of individuals assembled to best represent business and the development of young people. This will be a live event with a live audience where you will present your business idea and answer questions from the Panellists.
The Panellists will deliberate after the presentations and advise Matt on which business 10th Bridge should invest in. The winner will be announced at the end of the event!
About Richard Hallt
Richard was a colleague and friend to many of us until his untimely accident and death in 2023. A stalwart of our industry for over three decades, Richard’s knowledge and expertise combined with his warm personality are missed. Richard was also a strong supporter of UK Youth, and became an advocate of those young people in need, frequently putting his money towards worthy causes.
We’re therefore delighted to name the Young Entrepreneur Award after him and hope that it will provide a fitting memorial of his life and work.
Supporting UK Youth
We are working with UK Youth to attract young entrepreneurs from UK Youth's network of over 8,000 youth organisations and nation partners to support young individuals in developing their business ideas into detailed business plans, and provide an opportunity to win a partnership with 10th Bridge which comes with investment and business mentorship.
UK Youth is a sector-supporting infrastructure body, a direct delivery partner and a campaigner for social change. To continue to support the great work they do across the country, the new entity invested in will donate 10% of the future net profits to UK Youth in memory of Richard Hallt.
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