The Enterprise Challenge
Developing Business Awareness
The Enterprise Challenge
Introduced in semester 2 of year 3
Not compulsory – teams invited to form themselves and register. Teams of about 6 recommended and preferably cross-disciplinary
The Brief
The challenge is issued
The Challenge
• Teams are asked to :
– Follow a process which would lead to the formation of a small business
– Propose conceptual ideas for innovative products
– Conduct market surveys to establish which if any of these would find a sufficient market
– Design and produce a working prototype of the product by following the established design process
– Develop a Business Plan– Present their proposals to Panel
Programme
Challenge notified at start of sessionBrief issued end November Presentation on the Challenge to all students second
week in Semester 2 and brief issuedTeams to be formed and registered by end of third weekTeams invited to staff facilitated guidance tutorials
(weekly)Rolling programme of talks on relevant issues (weekly)Product design to be presented by End MarchBusiness Plan to be submitted by end second week in
AprilPresentations third week in April
Talks
• Group dynamics and effective teamwork• Project planning• Conflict management• Business planning• Sources of Finance• Marketing basics and surveys• Business and the wider community• Intellectual Property, design and patents
Rewards
Certificate of participation incl. talks attended
Certificate of Award (if gained)
Substantive prizes (sponsors needed)
Personal achievement
Skills gains
Possibility of business opportunity