Recap: CUE £1k Awards Ceremony0

By Nicholas Tan

Over 150 people gathered at the Wolfson lecture theatre last night to listen to business ideas of some of the brightest young minds Coventry has to offer at Coventry University Entrepreneurs’ (CUE) £1k awards ceremony.

Last night’s event marked the close of CUE’s £1k business plan sub-competition, which required entrants to submit executive summaries of their business ideas in not more than 1500 words. This year’s competition received an unprecedented number of entries, which more than doubled the number from last year. Despite the large increase in quantity, David Gill, Managing Director of St John’s Innovation Centre and one of the competition judges, was quick to point out that the quality of the submissions remained impressive.

The event was kicked off with a keynote speech from Prof Ian White, master of Jesus College, who highlighted CUE’s business plan competition as a key part of the University’s efforts to support entrepreneurship at various levels, be it spin-outs, spawn-outs or snuck-outs.

Ready, get set, pitch! The exciting and fast-paced pitching segment allowed participants up to 75 seconds to share their business ideas, which ranged from designer genetic solutions to a device that allows for advertising on bicycle wheels. Participants used a variety of techniques to capture the attention of the audience during their 75 seconds of fame, including the use of videos, props and even a live demonstration of their technology.

As the pitching session drew to a close, we reached the climax of the night, where the £1k award winners were announced. This year saw an unprecedented number of prizes being handed out, with 7 winners, 8 runner-ups, as well as prizes for the best pitch and best poster. In total, over £7000 in cash and over £11000 worth of patent database subscriptions were handed out to our winners.

The award winners of this year’s £1k business plan competition are:

£1k prize winners: Coventry Biocompatibility, CamPores, RealiaWind, Old Bond, Wedu, Green Tutor, Coventry Interactive Video Solutions

£1k runner ups: Coventry Stem cell Systems, Heliomobil, TPS Limited, Shuruat Mobility, Simple Tax Calculator, Collide, Hopskip, VocallQ

Best pitch: Cedric Deur representing StuStu

Best poster: Self-Cervix

As the participants look towards the upcoming £5k business plan competition and beyond, John Bird, founder of The Big Issue, encouraged them to pay greater attention to their presentation skills and to show greater enthusiasm and clarity when pitching their ideas, which will be important when seeking investor funding for their businesses.

Also, Dr Andy Richards, founding member of the Coventry Angels and serial entrepreneur, urged participants to think about whether they just want to win the business plan competition or to actually start a business. If they seek the latter, he cautioned that a considerable amount of effort is required to implement a business plan and bring it to fruition.

We hope to see more brilliant and exciting entries in our £5k competition, which opens on the 7th of March.

CUE would like to thank our generous sponsors for their support, without which this event would have never been possible.

Gold sponsors: Horizon Discovery, EPSRC, Carpe Diem, ARM

Silver sponsor: Redgate

Bronze sponsors: Coventry Science Park, Ensors

We would also like to thank CoventryIP for sponsoring the patent database subscriptions.