Issue date: 27 June 2002
The winners of the University of the West of England's Business Plan competition were announced this week.. The winning team received their prize from round the world yachtsman Pete Goss MBE, who also talked about his experiences as a business person and inventor.
Winners of the UWE Business Plan Competition, Professor Wendy Purcell and Dr Jinsheng Xu, put forward a business plan “Spheroids”, which aims to advance the pace of drug development by providing smart testing products and services using cell cultures as alternatives to animal tests. The prize, announced by sponsors ICON Corporate Finance, includes £15,000 in cash and the option of a space in UWE's new incubator unit, 'Innovate'.
The quality of the entries was so impressive that the judges awarded an additional prize. The runners up "Jungulator Audio Engine", uses ground-breaking technology that takes individual audio elements and mutates them into musical phrases and motifs continually, creating a shifting, evolving soundscape.
The "Jungulator” team Nathan Hughes, Matthew Olden and Jake Rayson will receive £5,000 and the option of a space in 'Innovate'.
The competition was open to all students and staff in the University who had an idea they wanted to develop into a marketable business plan. The aim of the competition was to harness creativity and enterprise and inspire students and staff to pool their talent, energy and ideas to create the businesses of the future.
The competition was open to all students and staff who had an idea they wanted to develop into a marketable business plan and was managed by the University’s Centre for Research, Innovation and Industry.
All entrants benefited from access to advice and support in bringing their new ideas to market, including workshops on writing a business plan, networking opportunities and guidance on intellectual property issues. Competition sponsors included Andersen, Burges Salmon, BusinessLinkWest, ICON Corporate Finance and NatWest.
There were 63 enquiries from staff and students and 8 business ideas were shortlisted as finalists.
All 18 finalists received a Bristol Blue glass paperweight, a copy of Pete Goss's book "Close to the Wind" and an option on accommodation in UWE’s new business incubator facility.
Jpeg visual available upon request from Jayne.Andrews@uwe.ac.uk or tel 0117 3442874.