Alexandra will compete in the postgraduate category and Matthew and Richard in the undergraduate category.
All three impressed the judges with their innovative ideas and well executed business plans and were rewarded with a £500 prize for each project.
The Santander Entrepreneurship Universities Award aims to encourage the development of innovative business ideas and concepts from undergraduate, postgraduate and research students and alumni across the UK.
Laura McDonald, Branch Manager, Santander Belfast said: “These awards offer a fantastic opportunity for entrepreneurs to develop their business ventures thanks to the cash boost of the prize.
“Winning the award will provide valuable advertising that will ultimately bring external investment to these innovative ideas.”
Applications were received from across all faculties of the University of Ulster and each was required to submit a 10-page business plan including financial projections.
Submissions were judged by a panel, which included the Directors of Academic Enterprise and relevant Office of Innovation staff.
Multi-disciplinary design student Alexandra, created Little Deli, a mobile application for individuals who wish to order food on-the-go, and Matthew (BSc (Hons) Business) and Richard (BSc (Hons) Business with Psychology), entered RMK Security - a company specialising in the field of security products.
The University of Ulster applicants will now compete to win prizes of up to £5,000 for Undergraduates and £20,000 for Postgraduates, in the UK 2013 Santander Universities Entrepreneurship Awards, to be held in June.
Caroline McGoran, Head of Investment and Enterprise, University of Ulster said: “These competitions and awards offer great opportunities for students to translate the skills taught at Ulster into real business opportunities and secure funding and support to kick start their ventures.
“The quality of the applications was very impressive and it’s fantastic to see so many students and graduates exploring new ideas and innovation.”
*The Santander Universities Entrepreneurship Awards are run by the Santander Universities Division: a global division of Santander established with the aim of supporting higher education through donations and academic initiatives.