Catalyst’s Invent 2023 competition for aspiring entrepreneurs and innovators is inviting entries, with a top prize of £25,000 for the overall winner.

Hosted by technology hub Catalyst with headline partner Bank of Ireland, the organisers say the annual competition provides the opportunity for early-stage start-ups and entrepreneurs to showcase their innovations and proof-of-concept ideas to a panel of expert judges.

Invent builds up to an awards event held in the ICC Belfast last September which rewards the brightest ideas from across the region that the judges deem to have the greatest potential for impact.

The competition has five categories which seek to address major global matters such as climate change:

•     Greentech – Products, solutions and tech that enable a sustainable future.

In Association with

•     Health and Wellbeing – Improving the quality of life through pushing the boundaries in life sciences, med tech and health promotion.

•     Product – A physical product designed and fabricated to offer the consumer or business a novel innovative solution.

•     Business Software – Computer software products or solutions used to satisfy the needs of an organisation rather than individual users, including innovations in sectors such as Fintech, Insurtech and cyber security.

•     Consumer Software – Consumer software is a class of commercial software that is sold directly to end-users as opposed to businesses.

Each category winner takes home £5,000, with the overall winner receiving an additional £20,000.

Bank of Ireland is also supporting a new award, Inclusive Innovation. Additional prizes for best elevator pitch and Student Invent will also be presented on the awards night.

The Invent 2022 winner was Vikela Armour, set up by Belfast-based engineering graduate Peter Gilleece. The company is developing a new type of body armour that provides better protection and comfort than conventional flak jackets.

Catalyst’s Elaine Smyth commented: “There are talented individuals who are bursting with great ideas and the companies that go furthest in our competition are the ones who create new and innovative ways to address real world problems.

“Diversity and inclusivity are hot topics across the globe currently, so we are particularly interested in the products and solutions that entrepreneurs come up with to meet the brief.”

Niall Devlin, head of business banking NI at Bank of Ireland, said: “During the many years we have supported Invent, the relevance of this innovation focused programme has continued to grow and provide an important platform on which to showcase the great innovation and entrepreneurship that exists locally.”

Catalyst is a Northern Ireland non-profit organisation that fosters entrepreneurship, with over 900 entrepreneurs, start-ups and scale-up companies engaging in Catalyst support programmes over the past 15 years. Catalyst runs numerous workspaces and draws on a volunteer base of over 500 people.

For more information and to apply for the competition, click here.

Photo (l-r): Meg Magill, Invent programme manager Catalyst; Peter Gilleece, Niall Devlin, and Elaine Smyth.