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The £1K Business Idea Competition

2003-04 Year in Review
Competition Outline
Looking Ahead


2003-04 Year in Review:

The Coventry University Entrepreneurs £1K Business Idea Competition is designed to encourage a broad range of Coventry University undergraduate and postgraduate students to flesh out their ideas in business terms and to form teams that combine technology and business strengths.

This year we had a few events. We had a £1K workshop for undergraduates, "£1K get together with experts", and also one event at Enterprise Tuesdays especially for £1K. There was an emailing list which regular emails went through the list once a week.

This year, 50 teams entered the £1K competition which was a great success. We had 16 technology based, 12 software and web-based, 6 bio-tech, and 16 other entries. We look forward to seeing more interest in the competition next year.

Ehsan Abdi Jalebi , £1k Lead 2003-04

Competition Outline:

The CU Entrepreneurs £1K Business Plan Competition is an outstanding opportunity to submit a business idea and to win an unconditional £1,000. The competition is designed to appeal to a very wide audience and people with ideas from all disciplines are strongly encouraged to participate. Up to 10 winners will receive £1,000 pounds at our annual prize giving event.


Looking Ahead:

The £1K Business Idea Competition has achieved yet another successful year during 2003/4 and we are committed to building upon this success on during the season ahead. Our primary aim is to double the number of entrants to the competition, an adventurous target we know but one which we feel is within reach given the continuing interest amongst Coventry students in entrepreneurial pursuits.

In order to achieve this we will be launching a new marketing campaign during Michaelmas 2004, targeted specifically to the undergraduate members of the University. We feel that the £1K competition is key to fulfilling our mission to educate all in the principles of entrepreneurship and enterprise, teaching that is sometimes lacking in undergraduate courses. By backing up the £1K competition with a new series of training seminars designed for those will little or no background in entrepreneurial thinking we believe that the enthusiasm we at CU Entrepreneurs all have for entrepreneurship can be disseminated to an exceptionally wide audience.

I am very much looking forward to taking the £1K competition into this exciting period and hope that I get talk to all of you about what we're doing in more detail in the near future.

Toby Austin , £1K Lead 2004-05