Student Enterprise @ Purple Door

Enterprise Challenge 2011

The Enterprise Challenge is a two stage competition run by the Portsmouth Centre for Enterprise (PCE), inviting all Portsmouth students to identify and develop an idea or different ideas which have commercial potential.

Programme

Challenge	Stage One	Stage Two
Prize Pool	Cash and experiential prizes	Cash and experiential prizes
Hand in Deadline	Thursday, 9th December	Friday 13th May 2011
Awards Ceremony	Tuesday, 8th February	Wednesday 1st June 2011
Requirements	Idea summarised in 2 pages	Idea detailed in a business proposal & video presentation

The Challenge is open to all registered undergraduate and postgraduate students from the University of Portsmouth. You can enter Stage One or Stage Two, or both, and you may enter as a team or by yourself.

Remember to keep your ideas confidential.

Please check this page regularly as any change/improvement will be posted here.

Stage One

Stage Two

Terms and Conditions

Enterprise Challenge and Rising Stars 2011 Entry Forms

 

Stage One

This stage evaluates the potential of your idea(s). In Stage One, you have to fill in a form with your idea, summarising it in 2 pages, no need to write a full business plan, or show a prototype. Judges are interested in your idea itself, and they will decide whether it has business potential or not. In Stage One, you don't have to identify the category to enter, we will do that for you.

Entry forms for Enterprise Challenge Stage One 2011

Available to collect at the PCE office (see address), or you can download the file (see link at the bottom of this page).

Hand in deadline

All Stage One entries must be delivered by hand to Sarah Mead before 12.00 noon on Thursday, 9th December 2010. See our map for location of the PCE Office.

 

Awards Ceremony:

Stage One - 8th February 2011, University of Portsmouth, Portland Building.

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Stage Two

This stage asks you to develop your idea further. You need to submit a business proposal and a short video about your idea. Judges are interested not only in your idea but the way you will develop it into a successful enterprise. They will also be looking for projects that are commercially realistic (hover cars might be a great idea but how realistic are they in terms of technology, costs, safety?). Showing evidence that your idea is commercially or social viable is the key.

 

 BUSINESS PROPOSAL

Criteria for your business proposal:  

1.      What have you already done?

*         Evidence about what you have done so far in relation to their idea

*         What have you learnt from these experiences about what works or does not work in business?

 

2.      What do you plan to do next?

*      What is your compelling vision?

*      What makes you think you can deliver this vision?

   

3.      The Market

*      What is the need that is perceived for the product or service 

*      What evidence has been gathered about proving the need 

*      Demonstrate that the offer does not already exist 

*      Who are the main competitors and what are their strengths and weaknesses? 

*      Where might new entrants emerge from (i.e. future threats)? 

   

4.      Getting to the market

*      What are the routes to market?

*      What are the revenue streams?

*      What are the recurring revenue streams?

   

5.      Making a profit

*      How will the product or service be priced?

*      Is the price sufficient to allow a gross profit sufficient to cover all overheads and leave a surplus?

*      How does the pricing structure compare with direct competitors?

*      Have you tested what price the market will bear?

   

6.      Resources

*      What skills do you already have?

*      What skills do you currently lack and how will you acquire the ones you lack?

*      What resources do you need to achieve your first sale?

*      What resources do you need to survive for 12 months?

 

Please note: 2000 Words MAX

VIDEO PITCH

 You need to make a video pitch about your idea which should be no longer than 5 minutes in length. This is your chance to sell your idea to the judges in a more personalised and creative output. You need to show evidence of why your idea should win by covering the areas listed in your business proposal.

 

Think about the following:

 *       Start with a “hook”

–         A scenario / story is a good way, product demo/prototype or prop

–       What problem are you solving?

–       You have the solution!

 

*       Draw your audience in

 

*       Answer the following questions and any more from your proposal that are relevant

–         What is your product or service?

–       Who is your market? (is there a clear demand?)

–       What is your revenue model?

–       Who is behind the company?

–       Who is your competition?

–       What is your competitive advantage?

–       Added value? (National strategic interest, Environmental, Social)

 

*       Don’t just describe your idea

 

*       Show what impact your idea will have on your customer

–         Use your scenario/story to do this

 

*         Finish with a Call to Action

 

Be creative and make your idea stand out!

 

Check out the below links for some tips and examples of great pitches:

Show don’t Tell

Dragons Den Nova-Flo pitch

Dragons Den Magnamole

Support

Do NOT fear! Support is available. If you need assistance in writing your business proposal, the dedicated staff at the Portsmouth Centre for Enterprise can help. Get in contact to book an appointment to discuss your idea.

If you do not have access to camera equipment, you may be able to hire it from the University. Windows Movie Maker is ideal for simple editing and is available on most University computers.

If you are not comfortable filming your own video, we can help film a ‘piece to camera’. For more information email Portsmouth Centre for Enterprise

So, how to enter Stage Two:

Step 1:  Submit an entry form (download using the link at the bottom of the page or collect from the Portsmouth Centre for Enterprise) with a copy of your business proposal and video pitch on CD or USB Stick.

Step 2:  Attend the presentation day on Wednesday 1^st June 2011.  You will be provided with a stand to exhibit your idea and the judges may come and ask any questions they may have about your idea. The awards ceremony will follow that evening.

Stage Two Hand in deadline

All Stage Two entries must be delivered by hand to the main PCE office before 12.00 noon on Friday 13th May 2011 -  See our map for location of the PCE Office.

Prizes:

Prizes are top secret until the awards evening on Wednesday 1^st June 2011. However we can tell you that there is money up for grabs and experiential prizes that include International travel!

They are going to be BIG!

Awards Ceremony:

Stage Two - Wednesday 1st June 2011 at Action Stations in the Portsmouth Historical Dockyard.

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Terms and Conditions

You can participate in up to 5 entries but you are only eligible to win one prize as a lead entrant. Teams must include at least one registered student who will be the lead entrant. Deadlines may be extended at our discretion.

Please read the complete terms and conditions of the Challenge. If you have any further questions about the Enterprise Challenge 2011, please contact Sarah Mead - sarah.mead@port.ac.uk or ring 023 92 84 3865.

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Entry Forms

You can download Entry Forms for the Enterprise Challenge 2011 by downloading the files below: