InvEnterPrize guides AberPreneurs to success
14 November 2016
Students at Aberystwyth University are being given the opportunity to fulfil their entrepreneurial dreams through this year’s InvEnterPrize competition, launched today Monday 14 November.
The competition offers up to £10,000 to the winning individual or team, which can be used to invest in equipment, facilities or professional services to turn their invention or business start-up idea into a reality.
The process is simple; a student or group of students, who have an idea for a new product or service which they could turn into a successful venture or social enterprise, send in an application.
If they are one of the chosen finalists they will have the chance to pitch the idea to a panel of the University business alumni - much like the acclaimed TV series Dragons’ Den.
Aberystwyth University alumnus and InvEnterPrize judge Professor Donald Davies said; "I’m very pleased to be once again on the judging panel for InvEnterPrize, Aberystwyth helped me create my career and to have the opportunity to encourage a new generation of students in business is terrific. We are looking for a spark in our potential winner or winning team; foremost the idea needs to be unique and achievable, but we also want a student or students that believe in their product and have the tenacity see it through.”
The winning entry will receive a generous prize package including support and investment worth up to a maximum of £10,000 to start the business.
Careers Consultant at Aberystwyth University Tony Orme said of the project; “Students have access to some of our most influential business alumni; to pick their brains and find out the secret to success. The money is a wonderful assistance to start-up costs but it is the advice and support that will be most valuable. We are lucky to have graduates that want to give back and be involved with the students and their generosity, in time and funds is inspirational.”
As part of the InvEnterPrize competition, Aberystwyth’s ‘AberPreneur’ Network will be hosting a range of workshops and inspirational presentations open to students interested in developing their entrepreneurial skills and preparing their entry.
The competition was launched in 2012, and the first year’s prize was awarded via the University’s Annual Fund to Jake Stainer for his language learning website Papora.com, which has gone on to be a great success.
Jake Stainer said of the opportunity; “I had the idea for Papora for a few years but never had any type of funding. In my second year at Aberystwyth University I decided to apply. Having won, InvEnterPrize has taken my business to the next level and I've been able to achieve so many things that wouldn't have been possible before. Papora is growing every month thanks to InvEnterPrize.”
In addition to the winner’s prize money, all shortlisted finalists will receive expert advice from the panel of successful entrepreneurial alumni.
Director of Development & Alumni Relations at Aberystwyth University, Louise Jagger said; “The InvEnterPrize can mean so much to someone with a great idea that needs the financial support and guidance to take it off the ground. We are very grateful to the alumni who continue to give so generously towards the Aber Fund which funds the prize money and to the alumni and supporters giving time on the judging panel.”
Aberystwyth University strives to aid all their students with the help they need for future careers through their guidance team at AberCareers. As part of this support there is practical help available for innovation enterprise and start-up.
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