University of the Highlands and Islands Business Competition - entries now open
Do you have a business idea you’re passionate about? You could win cash and receive support to turn your idea into a reality by entering the 2018 University of the Highlands and Islands Business Competition.
Entries are now open and budding entrepreneurs are invited to apply to be in with a chance of winning a share of a £6500 prize pot. This includes special cash prizes for business ideas with engineering insight. Finalists will also receive feedback from some of the region’s top entrepreneurs and business advisors and get support on how to take their idea forward.
Run by CREATE, the University of the Highlands and Islands’ Centre for Enterprise and Innovation based at Inverness College UHI, the Business Competition is now in its 13th year and supports and encourages people to take the first steps on the road to starting their own business.
The competition is open to all students studying at the University of the Highlands and Islands as well as non-students living in the Highlands and Islands, Moray and Perthshire, and last year attracted more than 115 entries.
Entries will be shortlisted to 15 and finalists will be invited to meet the competition judges to discuss their idea further at the Finals Day of the Business Competition at Inverness College UHI on 22nd November.
Last year’s top prize went to former Inverness College UHI student Paul Beaulieu (42), from Milton, Invergordon, who took home a cash prize of £1500 and a combined legal and accountancy package worth £2000. Paul, a former HND Engineering Systems student, came up with an ingenious idea to revolutionise how pipes are fabricated and fitted together, designing a pipe contour profiler.
Dr Carol Langston, Head of CREATE, said: “Entrepreneurship is vital if we are to develop as an economy. Often people have a business idea, but they don’t know what to do with it, or who to turn to for help. That’s where CREATE comes in. We work with people to encourage them to be ambitious, bold and creative in their thinking, with the aim of encouraging innovation. Our expert team will work one-to-one with finalists to develop their entrepreneurial flair and help them take forward their business idea, with the chance to win cash to help them on their way. This year will see an additional focus on engineering and we’re particularly keen to see start-up ideas.”
The competition is sponsored and supported by The Apprentice Store, Big Box Network, Business Gateway, Engineers in Business Fellowship, Harper Macleod LLP, Impact HUB Inverness, Johnston Carmichael, the University of the Highlands and Islands, Wave Energy Scotland, WooHa Brewing Company, WOW Scotland and Wyvis Roofing.
This year a special prize has been sponsored by Engineers in Business Fellowship (EIBF), a charity that promotes the importance and value of business education for engineers. The EIBF has given away over £8 million in scholarships to young working engineers to study an MBA at the top 14 business schools in the world.
David Falzani MBE, President of Engineers in Business Fellowship, said: “The University of the Highlands and Islands Business Competition is a fine example of the type of business education that EIBF supports. Not only does the competition have a clear and confident ambition to engage 35 per cent more engineers this year; the passion for enabling students to gain entrepreneurship experience is evident and inspiring. We can’t wait to see the innovations created by the students!”
Supporting this year’s competition is former winner Anna Renouf, owner of Orrin Equestrian, who took the title of Most Innovative Business Idea and the Best Engineering and Technology Award in 2015 with her innovative saddle design, which offers a superior fit and improvements for horse welfare.
Anna went on to win £10,000 in the Young Edge category after applying to Scottish EDGE and received a SMART Scotland feasibility grant, which has allowed her to focus on the development of her saddle with 4C Engineering based at Inverness Campus. She is now testing and developing her design, with the aim of entering the commercial market soon.
Anna, who is being supported by CREATE to take part in the Royal Society of Edinburgh Unlocking Ambition Enterprise Fellowship Programme, said: “The University of the Highlands and Islands Business Competition represented the start of my business journey and it really gave me the confidence to take my idea forward and develop it further. I would encourage anyone with an idea to enter as the process really helps to refine and develop your thoughts and gives you a real boost of encouragement. Even now, I regularly seek advice and guidance from the CREATE team about the direction of my business. The support and encouragement I have received from the team has really helped me to progress my business from the early stages to more recently supporting my application for the RSE Unlocking Ambition Enterprise Fellowship.”
One of last year’s winner was Sarah Speakman, who won the Best Commercial Business Idea with Sarah’s Miniature Gardens, supplying miniature living plants, accessories, materials and expert advice so everyone, whether or not they have an outdoor space, can enjoy gardening. Sarah continues to work at Inverness Botanic Garden but has now developed her first range of miniature gardens, which she has started selling.
Sarah said: “The University of the Highlands and Islands Business Competition gave me the validation I needed to start developing the idea properly. The application process was not in the least bit intimidating but it made me really think about what it was that I was hoping to achieve. The CREATE team and the judges were so encouraging and constructive. I bought a laptop with the prize money and applied for a small business loan. I also received a free consultation with Johnston Carmichael, which gave me advice on financial planning and the importance of networking. If you’ve got an idea which excites you then enter this competition. It’s nothing like as intimidating as having to write a business plan – the questions are encouraging and positive and even if you don’t get short listed, as least it has been your first step towards clarifying your ideas and focusing on what you’d like to achieve.”
The University of the Highlands and Islands Business Competition has attracted more than 1300 entries since it was launched 13 years ago and has awarded more than £65,000.
Apply online at www.createhighland.com by 31st October 2018. No business plan required.