Students who have run their own for-profit business for six months can win a share of prizes worth $150,000 in the Global Student Entrepreneur Awards.
UQ Business School student entrepreneur Ron Belle Isle said nominations for the competition - which last year attracted entries from a thousand students in fourteen countries - were due by 15 July.
"You can be nominated by someone or nominate yourself at www.gsea.org/nominate," he said.
"Regional competitions are conducted around the world - the Australian competition will be held in Sydney on Thursday 20 August."
Mr Belle Isle, who is in start-up mode himself, said he intended to enter the Global Student Entrepreneur Awards in 2010.
"I am setting up a full service marketing agency specialising in digital, field force, research, and strategy," he said.
"The competition is a fantastic opportunity for students to develop their entrepreneurial flair."
Mr Belle Isle said students entering the Global Student Entrepreneur Awards might also be eligible to enter UQ Business School's business plan competition Enterprize.
"Enterprize awards $100,000 to the winning business plan - and does not take an equity stake in the business," he said.
For more information about Enterprize see www.Enterprize.uq.edu.au.
Founded in 1988, the Global Student Entrepreneur Awards (GSEA) program supports early-stage student entrepreneurs by recognising their achievements and providing access to mentoring and networking opportunities.
Originally established by St Louis University in 1988, the Global Student Entrepreneur Awards is now an Entrepreneurs' Organisation program run in association with Mercedes Benz Financial.
For more information about the Awards see www.gsea.org.