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Postgraduates at Sussex could win up to £2,000 to develop a new product or service, as part of a scheme funded by the global bank Santander.

The Santander postgraduate entrepreneurship scheme offers five awards each year to Sussex Masters and doctoral students who show promising entrepreneurial talent.

The money can be used for a wide variety of business support, including but not limited to: research, creating prototypes, market analysis, travel or anything else the scheme panel considers relevant to forming or developing a new business.

The successful candidates will also have access to a business mentor and office space at the Sussex Innovation Centre (SInC), who deliver the scheme.

Last year’s winners have used the bursary to take their first steps towards achieving their business goals:

• Thomas Irps has partnered with former elite cyclist Eric DeGolier to commercialise BodyRocket - an aerodynamic drag measurement system for cyclists
• Philip Watson has co-founded Sense Innovation Ltd to provide specialised sensor design and develop innovative sensor-based products

A seminar at SInC on 25 October is the starting point for any students who are interested in applying. To book a place or for more information, contact Simone Robinson at the University’s Doctoral School (E doctoralschool@sussex.ac.uk; T 01273 877767). Students can also visit the SInC website to reserve a place.

Those who attend the seminar will be invited to apply for the funding – and their pitches will be reviewed and shortlisted. Those shortlisted will receive mentoring support from the SInC team before pitching to a panel in December.

The bursary is part of an agreement, signed in 2011, between the University and Santander.