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Could your idea save the country £1m?

Posted 1st April 2010.

Venturefest, the UKs leading innovation event, has launched a new initiative to find ideas which have the potential to save the UK public sector a minimum of £1m. People are invited to submit their ideas, which will be voted for on the Venturefest website and presented to entrepreneurs, investors and industry leaders at Venturefest in Oxford on 22 June 2010.

The initiative is open to businesses and people of all ages, and Venturefest welcomes suggestions in any area of public service. These could include efficiency measures, new technology, fresh innovations or the creation of new streams of revenue; there are no restrictions on the kind of ideas submitted, which can be as simple or as complex as desired.

The current economic climate is forcing most government departments to introduce new ways to save money without cutting back on services. For example, Norfolk County Council plans to save up to £1.3m this year by paying for bikes so that local children can cycle to school rather than take a subsidised bus.

Dave Waller of Venturefest commented, The public sector is already tackling these issues but often the simplest ideas are the ones that make the biggest impact. With this initiative we want to reach out for inspiration which could really make a significant change. Weve all had ideas that we think could improve things, so this is a chance to put some of those ideas into action.

Suggestions will be posted on the Venturefest website, where visitors will be able to vote for their favourites, which will be presented at Venturefest, held this year in Oxford on June 22.

Venturefest welcomes contributions in any form, including written proposals, prototypes, videos and images.

Entries should include a description of the idea, and an explanation of how the idea would save money, but there are no other restrictions, and entries can be presented in any way or form.
To enter, visit the Venturefest website (www.venturefest.com) or email save£1m@venturefest.com. The closing date for entries is May 31 2010.

ENDS