Have a cracking new idea that will change the world of publishing but not the means to carry it out? The British Council gives you a chance to put your innovative idea into action. All you have to do is sign up for the Young Publishing Entrepreneurship (YPE) contest.

A brainchild of the British Council, India, and the Oxford Bookstore, the YPE award celebrates the entrepreneurial spirit of young professionals (between 25 and 35 years of age) in the publishing business. The winner gets to participate in an all-expenses paid 10-day tour of the UK publishing industry in April next year and compete for the International Young Publishing Entrepreneurship (IYPE) award.

The international winner gets a prize money of £7,500 (around Rs 5.4 lakh) and an opportunity to set up a stall at the London Book Fair 2009.

The aim of IYPE is to find and nurture future leaders of the publishing industry in transitional and developing economies. Besides India, the other participants are Argentina, Yemen, Saudi Arabia, Egypt, Poland and Lebanon. So far, 37 finalists from 22 countries have participated in the programme, and four publishers have won the award.

“The award provides business and networking opportunities to young Indian entrepreneurs. The event is part of the Creative Future project for building capacity among young professionals. It’s in its third year now and the response has been good. The 2007 Indian finalist, S. Anand, went on to win the international title. He shifted his business from Pondicherry to New Delhi when he found the going good,” says Samarjit Guha, head of the programme, East India.

Anand, 33, founded the publishing house Navayana, which focuses on caste and identity politics.

“I contested the IYPE award because of the international exposure it would give an unknown niche publisher like me. I was equally keen on the financial aspect of the award, since the prize money meant a lot for Navayana,” admits Anand. “Initially I was unsure how Navayana’s interests could be linked to the UK or the rest of the world. It was then that I realised the challenge and potential of giving international exposure to the issue of caste discrimination in India,” he says.

And that is precisely the point. The jury members look for enthusiasts who are able to pitch their innovative ideas in an intriguing way. And guess what? The idea need not necessarily bring in a profit.

Interested? Then log on to the British Council website (www.britishcouncil.org/India) and fill in the relevant form. Work in publishing may cover e-publishing or retailing (including e-tailing). Experience in organising literary festivals or as agents may also help. Selected candidates will be asked to make a presentation before a panel of judges. The finalist will be awarded at the India level and then spend a week in London.

IYFE has had winners from Mexico (Eduardo Rabassa of Sexto Piso), Poland (Maria Deskur of Muchomor) and Lebanon (Joanna El-Mir of Samir Editeur) apart from India’s Anand.

“In India, book publishing is a relatively new career option. It requires awards like this one to boost the morale of young publishers,” says Subash Vadamalai Kanda, director of Sura Book Pvt. Ltd, Chennai, and a YPE participant.

However, Kanda’s grouse is that the award felicitates innovative ideas without checking if they are financially viable. “What is the purpose of publishing books that are not widely read?” he questions. Perhaps he has a point, but one cannot overlook the fact that the contest encourages publishers to come up with socially relevant creative ideas.

“This is a fantastic opportunity and allows for independent vision in terms of both creativity and monetary gain. It encourages entrepreneurs to take up courageous projects instead of run-of-the-mill stuff,” says Sarnath Banerjee, publishing director, Phantomville. Banerjee authors graphic novels (non-fiction) based on reports and journalistic writing and represented India at IYEP 2008.

So if you are a young publisher who is bored to death with the kind of books currently published and have a big idea to float, don’t be afraid to experiment. The last date for submission of applications is December 31.