The state-of-the-art London event venue and home of the Institution of Engineering and Technology (IET) will be granting one new business with free monthly meeting space and facilities for a whole year, worth up to £12,000. In addition, they will be given a mentoring session through an IET associate on how to market a new product to a specific audience.

As part of the campaign to support new innovation in science, technology, engineering and maths (STEM) and in light of the challenges that courageous new startups have been faced with as a result of the pandemic, the prize aims to provide a professional venue space with access to top AV facilities for meetings and business pitches. New businesses operating within the STEM sectors and with a team of ten employees or less are invited to apply, with entries being accepted until 30 November 2021.

The four-storey central London venue comprising of 11 contemporary meeting rooms and a series of larger event spaces and lecture theatres is offering space on a monthly basis from January to December 2022, with supplies of tea, coffee and biscuits for attendees. The chosen business will also be offered favourable rates for any further services or spaces required for larger events in the future. A judging panel with representatives from IET Venues, the IET and hospitality marketing consultancy, Custard, will assess all written submissions in December, with a winner announced on 10 January 2022.

If you’re a new startup that would benefit from this support, enter for free here.