STAGE 1: THE CATEGORY AWARDS
The three finalists from each of the four award categories will compete against each other in their respective category. There are three prizes at the category level: first prize, first runner-up and second runner-up.
Please note that all winners are required to access the loan before they are awarded the grant.
The first prize comprises a grant of $6,000 and a pre-approved loan up to $10,000. Read more about why this prize comprises a grant plus loan.
The first runner-up is entitled to a $3,000 grant and a pre-approved loan up to $10,000.
The second runner-up is entitled to a $1,000 grant and a pre-approved loan up to $5,000.
STAGE 2: THE GRAND AWARD
In the second and final round, the four first prize winners from Stage 1 will compete against each other for the Grand Prize of $5,000, which is given as a grant.
Ignite Capital, along with its partners, extends an evolving offer of other value-added benefits as part of the prize package, such as:
- Complimentary use of co-working space for a period of one year, from where you can operate your business
- Legal counsel to help you establish your business
- Business counsel