A record 98 submissions were received for the $10,000 Challenge section of the competition this year, with the 10 winners and other entrants all eligible to re-enter the $40,000 business plan challenge, with winners to be announced in September.
Eight judges assessed the students' ideas based on commercial viability, practical application and innovation, and the 10 winners were announced at the university's Commerce Building at a function on Friday night.
The event is set up jointly by the Dunedin City Council, University of Otago school of business and the Otago Polytechnic to enable students to pitch for and receive funding for their business ideas.
Budding entrepreneurs were given the help and knowledge to set up their own businesses, as well as the chance to compete for financial support from the overall $50,000 prize pool.
During the past eight weeks, students have been attending a series of Audacious seminars covering finance, legal, intellectual property and website development issues, organiser Ryan Priemus said, highlighting the drive and determination of the students.
"It's the kind of attitude that will enable these young entrepreneurs to survive in the real business world," Mr Priemus said.
Remaining winners: Matt Gray (company: Smart Plug), Paul Richardson (Fly), Scott Cardwell (Bright Eye International!), Michael Dowse (Meet You There), Tom Wrench (adBase.co.nz), Guy Tancock (Pool Buoy) and Mark Colley (The Glide Garage Door).
