Finalists Announced in Oxford’s Idea Idol Competition

In preparation for the upcoming Idea Idol final, I was (apprehensively) drafted in to star in one of those viral videos. Now the ‘virality’ of a piece of content or application on the Web is measured by its viral coefficient. That is how many users (or viewers) get added virally for each additional user. If this number is above 1, then you’re likely to see exponential growth. I wonder what the viral coefficient of the Idea Idol 2008 Promo will be:

Idea Idol 2008 Promo starring David Langer, Jitin Dhanani, Alasdair Bell and Jenny Tsim. Produced and directed by Joe Kennard and Nigel Steer from Purple Media.

Here is the official press release announcing the finals:

The young entrepreneurs behind the six shortlisted ideas will have just two minutes to deliver an ‘elevator pitch’ and impress a formidable panel of judges, including Deborah Meaden from BBC’s Dragon’s Den, at the final of the Idea Idol competition to be held on Tuesday 19th February at Said Business School, University of Oxford. The shortlisted ideas:

Altitude Medical – a path-breaking invention to counter the spread of hospital acquired infections such as the MRSA superbug

Heat is Energy – an Einstein-patented process to use heat that is currently treated as waste in data centres thereby saving money, carbon and energy

Zoombu – the ultimate way to plan a trip between any two destinations, incorporating all available options of cost and speed

CivSpark – on open source philanthropy platform enabling everyone to fundraise for the causes that appeal to them most

NowIknow – a one-stop source of career information to help individuals find a path through the bewildering array of options

Open Source University – a website providing university level education free of charge and without the accompanying bureaucracy for those who just want to learn

Now in its 4th year, and open to all Oxford students, Idea Idol is a competition to identify the brightest entrepreneurial ideas and uncover the successful entrepreneurs of the future. So whether it was a Eureka! moment, scribbles on the back of an envelope or the result of long, hard planning, the competition may put budding entrepreneurs on the road to realising their dreams.

The final judges include:
- Deborah Meaden of Dragon’s Den fame
- Reshma Sohoni, CEO Seedcamp;
- Katherine Mathieson – Head of Future Innovators at NESTA
- Sebastian Grigg – MD of Investment banking at Credit Suisse

The total prize money is £10,000 with three prizes to be awarded at the judges’ discretion.

This year, the audience – made up of around 300 fellow students, local entrepreneurs, venture capitalists and business angels, as well as representatives of the sponsoring organizations – will have the opportunity to participate in the action. £1000 in cash will be given away to those willing to stand up and give a one minute pitch. The four lucky enough to be selected by the audience will pitch side by side for the judges’ interest and face a group inquisition. With no judging criteria, he who dares wins in the ‘melee pitch’.

Last year £5,000 was given away in a dramatic final featuring Theo Paphitis, Shaa Wasmund and Dan Wagner. 2007 finalists Design the Time sidestepped the prize fund and received direct funding from Dan Wagner and Shaa Wasmund’s own venture capital boutique ‘Bright Station Ventures‘.

Idea Idol is the flagship event of Oxford Entrepreneurs, Oxford University’s student society for entrepreneurs which now has over 3000 student members within the University.