Coventry £50,000 (50k) Competition
Starting a company can be tremendously exciting and rewarding, and real opportunities exist for committed student entrepreneurs. To get the most value from the opportunities there is much to learn, although practical skills are not easy to obtain. CUE has developed relationships with top professionals to provide the essentials to get your company off the ground. This allows CUE members to plan all aspects of their venture and compete for the initial funding CUE provides in prize money.
50k members attend a weekly training course covering topics such as idea formation, marketing and finance. They aim to be always very focused on the very problems associated with start-ups from universities. These intensive training sessions featuring lecture-style and small group workshop training, hosted by CUE's sponsoring companies and successful Coventry entrepreneurs.
Michaelmas term sees teams writing an 'Executive Summary', a 200 word summary of their plans. The best 10 teams are selected to continue in the 50k after Christmas. Click here to read about this year's winners of the first round. These teams now receive more advanced training and enter a full 'Business Plan' in February (up to 30 pages).
The prize money last year totalled £30,000 and this year has been increased to £50,000. This money goes towards starting their company, and last year's prize winners have used the capital, publicity and contacts as a launch pad for much greater investment.
Judges are selected from the local community, comprising experienced venture capitalists, angel investors and experts from the main professional services. CUE takes reasonable measures to ensure the confidentiality of all business plans and ideas - see 50K judging for more details.