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