Cisco launches BIG Awards to reward SME innovations in technology

The winner of the annual competition will receive a prize worth approximately £126,000

Cisco has announced the launch of the BIG Awards, a competition for the most innovative technology startups and SMEs in the UK.

The annual competition forms part of Cisco's British Innovation Gateway (BIG) initiative, which it set up a year ago with the prime minister, where it pledged to invest £310m over the next five years to encourage technology innovations in the UK.

The first place winner will receive an overall package worth approximately £126,000, which comprises £63,000, 12 months of mentoring from Cisco, and additional services that include PR, legal and marketing. Runners up will receive cash and various technology prizes.

The competition will run from 1 February 2012 until September 2012 and involves a four-stage judging process, where the six finalists will present their business plans live to a judging panel before the winner is chosen.

Entries are open to UK residents only and all technology concepts or prototype ideas must apply to one of the following five categories:

• Big data, which incorporates datacentre and virtualisation technologies
• Collaboration, including video and social media
• Future cities
• Internet of things
• Mobility

Each entrant has to showcase how the concept can benefit both the public and private sector, as well as how it uses the network as the platform to deliver economic, social and environmental sustainability.

"The BIG Awards are a key component of our British Innovation Gateway initiative to encourage UK growth through entrepreneurship and the advancement of STEM [science, technology, engineering and maths] skills," said Phil Smith, CEO of Cisco UK and Ireland.

"There are many technology-based startups and SMEs within the UK [with a lot of potential] and the BIG Awards provide a great opportunity to showcase, celebrate and reward them."