1. Applying for Bright Ideas
#KUENT

2. Dwain Reid
Entrepreneurship Project Officer
Welcome

3. @Dwainreid 07717892750 d.Reid@kingston.ac.uk
Bizboard.kingston.ac.uk the mothership
@Dwainreid

4. End of academic year celebration Kingston Award
Workshops & Masterclasses
Bright Ideas
Closes Dec 10
Startup W/end Jan
Prize giving Feb
Celebrate Enterprise!
End of academic year celebration
Kingston Award
Participation in the Enterprise Programme is included in the Award
Enterprise! Up
Follow-on support for those starting something new

5. Applying for Bright Ideas
#KUENT

7. Why apply for competitions?

16. 3 x PRIZES OF £1,000 6 x PRIZES OF £250 New Product or Service
Social Enterprise
Project
Improvement

17. Kick-start your new enterprise project!
Why Enter?
Explore your ideas
Learn how to present a proposal
Make your CV stand out
Network and develop your career opportunities
Access entrepreneurship workshops
Have some fun
Kick-start your new enterprise project!

18. Even More Reasons ……………
Entry is FREE
Workshops and mentoring are available
Enter as an individual or a team
And of course,
You could win £1,000

19. But you might steal my idea(s) ………………..
we operate under Non-Disclosure Agreements documents are kept securely
BUT you always need to be careful – and realistic about how you describe things.
Check with us if you’re not sure!

20. Register on YouNoodle, complete the online process (can save progress)
Submit a 1000 word summary
Closes 8 December 2015
Winners announced
February at Gala event
(great event!)

21. Started with a bright idea
Neomi Bennet, founder of ne0-slip
Bright ideas winner 2010

22. The Entry Form

23. Public Summary Make it concise and easy to understand
May be the main thing people remember about your idea
20 words maximum
We will publish these public summaries

24. Inspiration Where does your idea come from Eureka moment?
Saw a problem?
Improvement on an existing idea?
Discovery in lab?
Frustration?
Your research?

25. Alternatives & Competitors1.
Elevator Pitch 2.
The need or problem 3.
The product/service 4.
Alternatives & Competitors 5.
Your first customer or user

26. Alternatives & Competitors1.
Elevator Pitch 2.
The need or problem 3.
The product/service 4.
Alternatives & Competitors 5.
Your first customer or user

27. Elevator Pitch Your chance to sell your idea in one minute
Focus on the audience and why they are there – give them what they want
Passion, conviction, focus!
Write this last!

28. Alternatives & Competitors1.
Elevator Pitch 2.
The need or problem 3.
The product/service 4.
Alternatives & Competitors 5.
Your first customer or user

29. The need or problem Successful ideas address:
a problem, pain, or need…
belonging to:
a customer or group of customers

30. “If I had an hour to save the world, I would spend 59 minutes defining the problem”

35. Who’s The Customer? Who buys this car? What are they like?
How are they different to
someone who buys a
Jaguar?

36. The Customer What are they thinking? What do they see?
What are they doing
What are they saying?
The Customer

37. Alternatives & Competitors1.
Elevator Pitch 2.
The need or problem 3.
The product/service 4.
Alternatives & Competitors 5.
Your first customer or user

38. + = Opportunity! You need both PEOPLE have: YOU have: Pain Answers
Lack
Desire
Want
Problems
YOU have:
Answers
Cures
Solutions
Ways of satisfying
Ways of taking it away +
This is a summary slide – linking the people with the ideas and cures.
The next slides are pictures of people – differences in age, occupation, interest, location mean that they will have different needs and problems, and will require different solutions.
= Opportunity!
You need both

39. Your product or service
You need to develop something that meets the needs you have identified for your customer
That ‘something’ may be a product, or a service, or both

40. Your product or service
Very few companies offer pure ‘products’ or ‘services’ but a combination of both to generate a competitive advantage, E.g:
The automotive industry
The IT industry
The retail industry
The consulting industry

41. Meeting customer needs
Tips
When developing a product/ service, think about the pen portrait to remind yourself of the customers’ needs…
Write down the customer needs
Work out how to solve them
Try to offer a ‘whole solution’

42. Creating ‘barriers to entry’
Intellectual property:
Patent, trademark, copyright, design rights
Exclusive relationship with a supplier/ customer
Alliances/ partnerships with other companies
A unique proposition/ brand
Quality of design / look / feel / usability
Unique location / facilities

43. Design and Branding are intimately linked at the visible level…
…and also at the intangible and service level

44. Alternatives & Competitors1.
Elevator Pitch 2.
The need or problem 3.
The product/service 4.
Alternatives & Competitors 5.
Your first customer or user

45. Who’s out there?
Identify other products and services and explain how they are different.
How does your solution meet particular needs better?
How will you differentiate your offering?

46. Competitors...
Come in all shapes and sizes Are often not obvious Don’t compete on price! May be in the same industry or not

47. Features & Benefits Features Benefits A book has a plastic cover
Easy to carry because lightweight
Amazon is online
Shop when you want to
Fruit is full of vitamins
Keeps you healthy
McDonald’s is fast to order and eat
Don’t waste time, don’t be late
Be clear about the features and benefits of your solution
Contrast them with competitors

48. Your first customer or user1.
Elevator Pitch 2.
The need or problem 3.
The product/service 4.
Alternatives & Competitors 5.
Your first customer or user

49. Your first customer
Who are they? Where are they? How will you communicate with them? How will you get the product / service to them?

50. The product supply chain
Wholesaler/
reseller
Retailer
Supplier
Producer
Retailer
Customer
Consumer
Where are you in the chain?

51. Common entry strategies
Partnership:
With your customer
With your university
With competitors (licensing)
With complementary products / services
Web-strategies (ebay)
Gradual, careful, low-cost

52. You CAN win Bright Ideas
Look at the world around you and see how you can change, develop and improve things!
Identify an opportunity:
A genuine customer need, matched by a feasible solution

53. APPLY NOW!

54. @Dwainreid 07717892750 d.Reid@kingston.ac.uk
Bizboard.kingston.ac.uk the mothership
@Dwainreid