StartUp Sussex July 2013 Application Process

Application Form

If you are reading this, well done you have decided to take the plunge and enter the competition.. I wish you every success.

The following slides simply expand upon the requirements in the application form which you fill in online.

Once that’s done we identify a short list of presenters for a panel of judges and determine the winners.

The application form mirrors some of the process anyone might take to get to the bottom of whether their idea for a working enterprise, social or otherwise, has a real chance of success.

It’s a starting point and win or lose( because it is a competition in the end) you may find that you need to do more work to move forward. So everything you do here isn’t wasted, win or lose..It’s just the start.

Good luck. Paul Jordan Competition Co Coordinator Sussex Innovation Centre [email protected]

April 12, 2023 Slide 3

Criteria for both competitions: (Enterprise and Social Enterprise)

1. Show a high level of personal commitment and passion for their proposed enterprise

2. Demonstrate the ability to recruit and lead others to realise the opportunity

3. Identify the resources and/or intellectual property on which the idea rests

4. Describe the enterprise’s growth potential

Award Criteria for Social Enterprise • students, staff or recent graduates (graduated within 1 year) • over the age of 16• living in the UK for the duration of the project• who are individuals or part of an informal group

Award Criteria for Social EnterpriseProjects must:• benefit the public or a community in the UK• demonstrate a connection to the Higher Education Sector• need a HE Social Entrepreneurship Award to ensure their success• offer a learning opportunity for the applicant(s)• be a new initiative – not a continuation of ongoing operations• not be part of the applicant’s paid employment• be an entrepreneurial solution to a social problem• instigate social impact or social change• not be for activities outside the law, against public policy or anything that fosters ethnic, religious or commercial disharmony

Your Vision; Please describe your business/ project when it’s successful.100 words Max. Suggestions:

• Description of the finished product or service • How will customers discover the product or service• Who is using it• When and how will revenue and profit be generated• How will it be delivered and who is involved

What is/ are the problem/problems you are solving?

100 words Max. Suggestions; • What job are people trying to get done• How big is the problem• Why do people care about the problem, • What's the pain suffered/ difficulty experienced• What have you done to understand the problem

What are the current solutions?50 Words Max.Suggestions:

• What is the current solution• What are the major failings• Who delivers the solution• How many deliver solutions• Is the solution part of something else- over

developed/expensive

What is your solution?100 Words Max. Suggestions:

• How does your solution solve the problem• How easy is it to use will it change behaviour• Do you offer the whole solution• What are the unique features and benefits• Why hasn’t anyone found a solution before

Potential customers & market? What is the potential demand.

50 Words Max. Suggestions:

• Whose a typical customer and who will buy it first.• How big is the market now and likely in 5 years• How do they buy the current solution, will that be the

same for you• Is there a lot of competition in the market, who

dominates the market• Is the market growing, is it a global opportunity

What costs? What pricing? What finance? Any evidence available50 Words Max.Suggestions:

• What will it cost to make and sell. What is the profit on each sale

• What will you charge and why. • How many will you sell and when will you start selling• How much money will you need to start the business• What will you use the award for

How far have you come in terms of developing the proposed venture?

50 Words Max. Suggestions:

• Concept / prototype/ Does it work• What research has been done or is needed to complete

the project. cost?• Who have you asked for help; technical/customers/

buyers/sellers• Is this the complete offering or first feature of a larger

offering• What other funding have you explored

What are the challenges/barriers to success? Identify key milestones

50 Words Max.Suggestions;

• Money needed to deliver the first sale• Market knowledge• Personal skills • Time • A working product or service

Please outline personal learning and development that you hope to gain from this project

50 Words Max.Suggestions

• How to skills• Skills needed as an entrepreneur• Personal strengths and weaknesses• Team building• Creative problem solving


Use of the Prize Money

Research, creating prototypes, market analysis, travel or anything else the scheme panel considers relevant to forming or developing a new business.

Funds cannot be used to pay for the time of the entrepreneur.


Bursaries based on the strength of the proposals presented.

Successful applicants will receive further support from the Sussex Innovation Centre to develop their idea for a business. 4 hours Free Mentoring. Discounted Consultancy rates

All applications remain totally confidential to protect their Intellectual Property.


To apply

http://www.sussex.ac.uk/careers/newsandevents/startupsussex

Key dates:

Seminar 20th June 2013 Closing date 5th July 2013 Pitching Workshop 11th July 2013 Panel 22nd July 2013




Paul Jordan

[email protected]

StartUp Sussex July 2013 Application Process

Career

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