Dublin Institute of Technology yesterday launched a nationwide student enterprise competition.

The contest, which is open to undergraduates from the State's 15 technology institutes, across all disciplines, is designed to foster a spirit of enterprise in third-level students by allowing participants to research companies and devise a successful business plan for each.

"This is an opportunity for students to learn, away from the pressurised exam environment, and to make a more practical approach in engaging in real world activity," said Denis O'Brien, chairman of the competition, which is sponsored by Newstalk and Digicel. "More importantly, this competition is designed to have students working together, co-operating and pooling their knowledge to achieve an end result."

Students must work in teams of four to develop and submit a written proposal to their local co-ordinator for the preliminary round.

The top four entries from each college will then be given a second case study, which they must present to their local judging committee in December. The case study details are yet to be announced, but organisers said they will be young Irish companies that are currently experiencing problems typically associated with start-ups.

The overall winning group from the national finals in February will be taken to the Caribbean, where O'Brien's Digicel telecommunications group is based, to learn about the workings of a start-up company. Likening the prize to the retreat held for the finalists of the Ernst & Young Entrepreneur of the Year competition, Mr O'Brien said he hoped the students would return to the Republic after the trip with "wind in their sales."

The closing date for entries is October 27th and more information can be found at www.newstalkenterprisecomp.ie.