The Idearace business idea competition has become one of the most significant events in South Karelia, showcasing the most innovative business ideas of students, entrepreneurs, and creative minds to the general public. Every year, around 40 bold teams come forward with their ideas, and only the best of them are ultimately selected to reach the top.

The competition has one category, OPEN, and the application period is February 16–March 22, 2026. The selected finalists will have the opportunity to practice pitching and presenting at Bootcamp on April 17–18, the weekend before the final event. Bootcamp is much more than just coaching. It is networking, preparing together, and cheering each other on.

In the finals, one winner will be awarded €5,000 and a Golden Ticket to the Dream event in the fall. The second prize will be awarded to the best LUT/LAB student-driven idea, which will also receive €5,000 to develop the business idea.

The competition’s evaluation criteria are the novelty value of the business idea, scalability, the team behind the idea, feasibility, and the pitch deck.