£25,000 prize on offer for Imperial's top entrepreneurs
The 2006 Entrepreneurs' Challenge kicked off in the Tanaka Business School last week, offering a top prize of £25,000. The Challenge provides Imperial's budding entrepreneurs with the opportunity to develop their business skills, and potentially set up in business. The Challenge involves two rounds of presentations of the teams' business plans
Last year's winners, Concrete Canvas, were so successful with their business plan that they appeared on BBC 2's "Dragon's Den", aiming to raise £80,000 but rejected the Dragon's offer who wanted too larger stake in the company. The team of two are now seeking funding in order to bring their product, an emergency concrete shelter, to production.
Of the £25k prize, £15,000 is in the form of support services required to turn their ideas into a profitable business.
Peter Brewin, from Concrete Canvas, cited the negotiating skills that they have acquired as one of the many important skills developed through the process. Other benefits are one-to-one sessions with mentors, and a series of evening talks.
More information is available on the website, www.imperial.ac.uk/business/challenge
