The Peter Farrell Cup is an opportunity to bring your business idea to life, sharpen entrepreneurial skills and win cash prizes.

Hosted by the Centre for Innovation & Entrepreneurship (CIE) at the Australian School of Business, the competition is open to student teams, start-ups, and existing businesses.

Competing teams must register by October 1 and finalists are selected to pitch their business ideas to a judging panel at the November 18 Event and Awards night.

Winners are decided on the basis of their plans, pitches, and ability to address questions from a judging panel comprising venture capitalists, CEOs, and investors.

Dr Martin Bliemel, Director of the Centre for Innovation and Entrepreneurship (CIE), says the aim of the Peter Farrell Cup is to foster entrepreneurship and instil passion for innovation. More than $10,000 in cash and prizes are on offer to the finalists to pursue their business ideas.

CIEs principal aims are to improve the quality of innovative thinking in Australia and stimulate entrepreneurial skills in students, faculty members, UNSW alumni and the general entrepreneurial public. The CIE helps innovators prepare to face the challenges of an increasingly dynamic commercial world in the form of targeted coursework, internships, and networking events that offer real world experiential learning and interaction.