October 6, 2016, by The Ingenuity Lab
Engineers compete for Business
“Scientists dream about doing great things. Engineers do them” James A. Michener
Calling all Engineering and Business students!
Nottingham University Business School (NUBS) is running their annual Engineers in Business Competition for the third year, during October – December 2016. Business and Engineering students will have the opportunity to work together, submitting new business ideas, part of the Entrepreneurship & Business (E&B) module.
Sponsored by Sainsbury Management Fellows (SMP), the competition is aimed particularly at Engineering undergraduates who want to learn about entrepreneurship. By encouraging more commercial education for undergraduate engineers NUBS and SMF are enhancing students’ multi-disciplinary skills, increasing their employability and inspiring students to use their engineering skills in business innovation.
The Engineers in Business Competition invites students interested in taking the Entrepreneurship & Business Module to enter their original product concept into the competition at the end of the course module. The students’ product concepts must meet a real need in society, be well-researched and developed. The competing teams are judged by an SMF panel, consisting of engineers, entrepreneurs and business leaders.
During the judging, competing teams must convince the judges of the viability of their idea, explaining the rationale for the product, their R&D process, understanding of customer needs, as well as their thoughts on finance and marketing.
The Prize Fund
Entrants will compete for a share of £3,000 prize fund, with £500 being awarded to the runner-up; £1,000 to second prize winner and £1,500 to the first prize winners.
The 2015 winners, Team Precicio Polo created a prototype of a new design for the traditional polo mallet head, designed to make it easier to wield by people of smaller physical stature. This typically applies to female and young players. The aim was to even out the playing field for women by reducing the mallet’s weight, improving accuracy and durability and thus increase the level of participation in the sport.
“Some of the most important global challenges we face today are not just technical challenges, but require the ability to link technologies to an understanding of the market mechanism, business skills and entrepreneurial commercial thinking. These challenges include delivering and growing secure and affordable supplies of clean water and of energy to meet the needs and expectations of a fast growing global population[…] The Entrepreneur & Business Module and Engineers in Business Competition addresses key skills gaps and inspires students to use their engineering skills to solve problems in society.”
SMF President David Falzani
Enter today, just as previous entrants did:
“One of the key things I learned is that entrepreneurs are very important in today’s society – because of their ability to create and solve problems.”
“I would 100% recommend the module and competition to students across all years. Not only is it a great learning experience where you get to understand the ingenuity process, you get to work with students from all year groups and from different disciplines.”
“It completely inspired me in my passion for entrepreneurship.”