Emerging Business

Emerging Business Award

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* This additional criteria needed for this category

Eligibility criteria

The Emerging Business Award is open to early-growth companies, university spin-offs, individual entrepreneurs and micro-businesses.

The business must:

Undertake and maintain the majority of its activities, employees and assets on the Gold Coast;

Have been in operation for a minimum of 18 months, and maximum of five years at the close of entry date. (Entrants may be exempt from the five year limit if they can demonstrate, through documentary evidence, that the business has been commercially trading for less then five years); and

Have a turnover of less than $8 million over the last two years, with no more than $5 million in either year.

The following businesses are not eligible:

Franchisees or franchisors;

Clubs, co-operatives or not for profit organisations;

Majority Government funded or a Government agency; or

Businesses that have previously won a Gold Coast Business Excellence Award.

Judging criteria

Entrants will be judged on their:

- Contribution, or growing contribution, to the value, strength and diversity of the Gold Coast economy ie:

Domestic and export sales contribution and potential;

Employment contribution and potential;

Contribution and potential for cost savings;

Import-replacement contribution and potential; and

- Significance as a benchmark for new business on the Gold Coast ie:

Differentiation from existing businesses in terms of product mix, service delivery and marketing;

Early-growth success in a new business niche;

Degree of product, service or process originality, leading to the creation, protection and commercialisation of Intellectual Property;

Ingenuity in achieving new and/or better business solutions; and

Standard of excellence and commitment to best practice.