MAD//Fest and cocreatd are launching an unprecedented live business experiment where people who want to start a business compete for up to £100,000 of investment capital and services by going from idea to launched company in just 48 hours.
The two-day challenge, titled "Dream It, Pitch It, Co-Create It," will see participants pitch their day zero business ideas on the MAD//Fest stage before the finalists develop their concepts live with mentors, culminating in their fully launched company complete with branding, website, service proposition or MVP, investment and ongoing co-founder level support.
"So many talented people want to turn their ideas into businesses but don't necessarily have the launch pad to take the leap. We want to be that launch pad," said Oliver Yonchev, founder of cocreatd.
He went on to say, "AI is making it easier than ever to create new products and services and start a business. Ironically, it's harder than ever to stand out. This is why we believe in a world augmented by AI and computers that speak in natural language, those from the marketing industry have all the advantages. They understand human psychology, know how to capture attention, can tell compelling stories, and obsess over customer needs – skills that matter more than technical expertise when in the near future technology builds itself”.
“These ideas can be anything from a new agency to AI agents across marketing and media. We're particularly excited to see new social media, creative, influencer, SEO and media concepts - if you're talented, have a great idea, come pitch LIVE".
Data suggests record numbers considering entrepreneurship, with 58% of UK workers now thinking about starting their own business according to recent studies. However, Yonchev believes the shift extends beyond choice: "While many are drawn to entrepreneurship for flexibility and fulfilment, the reality is that technology displacement means many people will be forced into creating their own opportunities. We actually think there needs to be more platforms like this to give people that gateway into entrepreneurship when traditional employment becomes less secure."
Participants will pitch on the MAD//Fest stage before a panel including Rory Sutherland and cocreatd partners Oliver Yonchev, James Lawson Baker, Paul Stevens & Simon Whitaker. Three day one finalists undergo intensive business development with cocreatd's team, seeing their concepts transformed into fully-fledged businesses with everything they need created by cocreatd’s portfolio companies.
Day three of the festival culminates in final pitches featuring launch films and live websites, before the winner receives the £100,000 package.
"Can you create a viable business from idea to investment and fully trading in just 48 hours? We jumped at the opportunity to host this bold £100k experiment at MAD//Fest London because it embodies our mission to push boundaries and create unforgettable experiences that change lives. In addition to hosting a series of pitches from L’Oréal, Clarins, Jack Daniels, The LEGO Group, and MARS with Co:Cubed, we’re excited to launch this new format with cocreat’d that’ll both provide engaging content for attendees and demonstrate what can be achieved with driven creative entrepreneurs, an audience of brands, and £100k support package,” said Dan Brain, co-founder of MAD//Fest.
The entire journey will be documented for a new documentary, with participants sharing their experience via updates throughout the three days.
Anyone at the festival can pitch their idea for real life jeopardy. But if you want a chance to be invited to pitch and obtain a free ticket, register in advance via the MAD//Fest homepage with your LinkedIn profile and a one-line pitch summary.
"Dream It, Pitch It, Co-Create It" takes place 1-3 July at MAD//Fest.
Register here for a chance to compete for £100,000 in backing.