What will I get out of the Competition?

•Knowledge on how industry works

and how start-up companies

operate

•Networking opportunity with

entrepreneurs from the

engineering industry

•Development of personal skills

•Enhanced career potential

Deadline for Applications for Engineering YES: Friday 18th March Competition BriefingMonday 11th April 10am-1pm: Briefing Session, Loughborough University

Timetable

Sunday 8th to Wednesday 11th May

Holiday Inn, J7 M6, Great Barr.

Grand Finalthe top teams from each heat go head to head to win the top cash prize of £2000.

Wednesday 8th June 2011: Birmingham Science Park.

West Midlands Heat:

What’s Involved?

• At the Heat – Prepare plans for an imaginary engineering start-up

company– Present an “Elevator pitch” to the other teams– Present to a Panel of judges - “equity investors”– Convince the Panel to invest in your company!

• Available at the workshop– Presentations by experts– Mentors– Organisers

Sunday evening Meet the other teams

Monday am SpeakersMonday pm Plan Preparation/

Help from MentorsElevator Pitch

Tuesday am SpeakersTuesday pm Plan Preparation/

Help from Mentors

Wednesday Main PresentationsTwo heats of 6 teamsHead-to-head for the heat winners

Format for the Competition Heat

• Requirements of a Business Plan• IP and Patenting Strategy• Finance• Commercial and Marketing Strategies• Case Histories

What the speakers at the heat will talk about

• Specialists in different areas (e.g. IP, finance, marketing)

• Available Monday and Tuesday afternoon• Booking system will operate• Take full advantage of this unique

opportunity!

Who are the Mentors at the heat?

Support!

Workshop One: Forming Your Ideas Workshop Two: Business Planning Workshop Three: Marketing & Networking Workshop Four: Finance Workshop Five: Intellectual Property and Patent Laws Workshop Six: Pitching  

YES Competition Support Seminar Series

Running parallel with the YES Support Seminars we will be hosting Coaching Sessions with Striding Out a professional coaching, training and networking support service.http://www.stridingout.co.uk/

Coaching Support

Before the West Midlands Heat

• Formulate your business idea– Be clear on your IP position– Company name– Team roles

• Research the market– market potential, competition

• Presentation to group of “Equity Investors” • Contribution from all team members• Structure of the presentation, up to you• Use of Microsoft PowerPoint• 20 mins (max) with 10 mins questions• Feedback provided

Main Team Presentations

1st prize £2000Runners-up £500Best use of IP £250Best teamwork £250Elevator pitch £100Peer review heat winners £250x2

Best Liverpool Team £1000

Prizes!

Choosing your company/idea

• Has to be potentially possible – the laws of thermodynamics still apply!

• Has to be appropriate for a small company to develop• Exploitation and manufacturing can be in-house or via

subcontractors or licensees• Some initial ideas

– Novel alloy enabling new, low-cost manufacturing of drinks cartons and cans.

– Novel water turbine to generate electricity for use at old water-mill locations.

– Novel engine design capable of running on bio-friendly fuels. – New additive that increases the tensile strength of concrete.

Warning:• If you decide to base your idea on a piece

of real research in your laboratory, seek advice from your Supervisor/Head of Department – Early disclosure of ideas and information can

prevent patenting the idea that has been disclosed

– Choose something similar in concept to a real idea in the competition

Team Roles• Potential Management Roles:

– Managing Director/CEO• Leads the team and the presentation

– Finance Director• Does the money!

– Research and Development Director• Develops the products

– Commercial and Marketing Director• Makes the money

– Operations Director/Manufacturing Director• Makes the products

• Choose the roles that best fit your business– Not all companies have all roles– Combine roles for the competition

The Elevator Pitch

• What is it?– You get into a lift with the head of ACME VCs. – This is your chance to sell him your company as an

investment– You have till he gets out on the 21st floor – just three

minutes• How will it work?– Each team leader will present the team’s ideas to the rest

of the group– The best presentation will be chosen by a show of hands –

no voting for your own team!– If the other teams are impressed (or otherwise), then so

might the judges be on Wednesday

The Business Plan• Remember, you are aiming to attract investment.

– What are the costs of the business– How much money will you need?– What/when are the likely profits?

• Investors want to make money– Most VCs want to get a ten-fold increase in 4 years– How/when will they get their money back

• Dividends• Trade sale• Float on a public market

• Yours is not the only option – so why you?– Demonstrate you have a sound commercial opportunity– Show you understand the risks and scale of investment– Show that you are a competent team that they can trust

The Business Plan• Oral presentation using PowerPoint• Typical layout– Executive Summary– Business Description– Market and Industry– The Competition– Marketing Strategy– Operations Plan– Management Team– Financial Overview and Funding Needs, – Summary and Conclusions

Selling Your Idea

• Unique selling point (why will the customer want to buy your product?)– Does it do something that couldn’t be done

before?(eg A fireproof plastic coating)

– Does it do something in a different way? (eg new type of concrete)

– Are you offering some added benefit? (eg opens up new markets, cheaper/faster to produce)

Preparation is the Key!

• Evaluate your market– Market size – which countries?– Competitors– Pricing comparisons– Customers or potential licensing partners

• Intellectual Property– Patents, trademarks, copyrights

• Financial forecast– Raw material & manufacturing costs

• Include capital costs of any facilities– Operational costs

• Including R&D, office facilities, human resources.

Website Support

https://liverpool-ac-uk.campuspack.eu/Groups/Postgraduate_Research_Students/Yes_competitions

http://www.lboro.ac.uk/research/eng-yes/

Summary

• It is hard work before and during the workshop

But its worth it!• Help is at hand

Please ASK• Enjoy yourself and

HAVE FUN!

Main Contacts:Dr Richard Hinchcliffe – Graduate School Skills Team – rjh@liv.ac.uk

YES Competitions Co-ordinator: Dr Aimee Blackledge - Graduate School Skills Team - aeb@liverpool.ac.uk

Daraz Umar – Business Gateway - darazu@liverpool.ac.uk

Dr Claire Hookham – Williams School of Management - hookham@liverpool.ac.uk