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 18 th March Competition Briefing Monday 11 th April 10am-1pm: Briefing Session, Loughborough University Timetable

Sunday 8 th to Wednesday 11th May Holiday Inn, J7 M6, Great Barr. Grand Final the 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 eveningMeet the other teams Monday amSpeakers Monday pmPlan Preparation/ Help from Mentors Elevator Pitch Tuesday am Speakers Tuesday pm Plan Preparation/ Help from Mentors Wednesday Main Presentations Two heats of 6 teams Head-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. 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 £2000 Runners-up£500 Best use of IP £250 Best teamwork £250 Elevator pitch£100 Peer 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 21 st 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 uk.campuspack.eu/Groups/Postgraduate_Research_Students/Yes_competitio ns

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 – YES Competitions Co-ordinator: Dr Aimee Blackledge - Graduate School Skills Team - Daraz Umar – Business Gateway - Dr Claire Hookham – Williams School of Management -