January 25, 2018, by The Ingenuity Lab
Ingenuity18: Final Tips For Your Application
“The will to succeed means nothing without the will to prepare” – Juma Ikangaa
Ingenuity18 is open to all University of Nottingham (UoN) undergraduates, postgraduates, alumni, APM staff and early stage researchers in the UK, Malaysia and Ningbo.
With a prize fund of £100,000+, and fantastic networking opportunities with a range of industry leaders, it is a great opportunity to grow your business idea in a supportive and exciting environment. Plus, it’s the biggest entrepreneurship competition in the UK – one you don’t want to miss out on!
Applications are open up until January 26th 2018. If you’re considering applying, but not sure where to begin, read our five top tips on making a great Ingenuity18 application.
Think ‘Elevator Pitch’
If you only had a 20-second elevator ride to convey your business idea, how would you do it?
In your Ingenuity18 application, you will have 200 words to outline your business idea. Consider the Unique Selling Point (U.S.P.) of your idea, and try out various ways of conveying it in the most effective and efficient way. What makes your business idea different to potential competitors and existing businesses? How can your business idea leave a lasting impression?
Make a change
The core values of The University of Nottingham speak of ambition, engagement, partnership, civic responsibility and longevity. As a student, alumni or staff member of the University, you have the opportunity to put this vision into practice through your business idea – so take it and run with it!
We are looking for exciting, innovative business ideas that have the potential to make a positive change in the world and #FixTheWorld – no matter how big or small. When you’re considering your Ingenuity18 business idea, think about what benefits your idea could bring to society and the environment.
Be brave
You can enter Ingenuity18 with a business idea at any stage of development, as long as the business is under three years old. If you have zero entrepreneurial experience and your business idea is currently nothing more than an idea, please don’t feel nervous or apprehensive about applying!
The amazing workshops, breakout sessions and key note speeches that you will hear during the Ingenuity18 Ideas Summit will allow you to gain much more confidence about your idea, and provide you with the knowledge and skills to develop it further.
Be honest about the obstacles
As you may have seen, one of the questions in the Ingenuity18 application is “What are the three main obstacles you/your team faces in building the business/idea?” In this, we want you to be honest about what you feel most challenged by, as the responses will shape the structure of the seminars and mentoring sessions delivered at the Ingenuity17 Conference.
We won’t be judging your applications based on this response, and chances are there’ll be numerous applications with similar obstacles to yours!
Don’t miss the deadline!
This may seem obvious, but you would be surprised at the number of people who missed out on Ingenuity17 as a result of missing the application deadline. You have until midnight on the 26th January 2018 to apply, but make sure you plan ahead!
Write up a draft copy of your responses before adding them to the application form. Get someone you trust to proof read it. Save it on a memory stick. Do everything in your power to ensure that you have the opportunity to be part of the biggest and most exciting entrepreneurship competition in the UK.
Who knows where it could take you.
The deadline to apply for Ingenuity18 is Friday 26 January at midnight (GMT). Only teams who have applied will be able to attend the Ideas Summit.
If you have any queries about the Ideas Summit or your Ingenuity18 application, please contact ingenuitycompetition@nottingham.ac.uk.
Why not take it a step further and also consider becoming a Venture Member of The Ingenuity Lab? We will be moving to our stunning new space – The Ingenuity Centre – in the new year, and allows you to continue developing your business in a fun and supportive environment once the competition ends.
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