European business challenge for Abertay students
Students from Abertay University are taking part in the EBMC European business challenge – Entrepreneurial Brains Made on Campus – for the sixth year running.
A tough two-day practical session generating business ideas started yesterday and is designed to challenge the 22 students to identify real solutions to customer needs and develop their business ideas.
At the end of today, all the student teams are required to pitch their idea to a panel of ‘investors’ who assess the idea’s feasibility, desirability and viability as well as the quality of the presentation.
An expert jury will then select the winning teams to take part in the EBMC Finals at the City Hall of Stuttgart.
Helen Smith, Associate Director Teaching Innovation and Senior Lecturer in Accounting at Abertay, said: “Business challenges are a very exciting, intense experience for our students which give them a real sense of the challenges and rewards of working in a practical business environment.
“Letting students develop their own business ideas in response to a real problem helps them take everything they’ve learnt from their studies and apply it. It’s a safe environment for them to develop their business skills.
“Abertay has had great success in this competition and we look forward to sending another team to the European finals later this year.”
Dr Hartmut Roesch from Stuttgart Media University said: “I am astonished how fast the students dare to talk to potential customers and to collect feedback from experts to find their feasible business idea.”
The first day of the challenge focused on defining the business problem and the design challenge it poses, developing a business idea and then preparing and presenting a vision board of early ideas.
Over the second day the students learn how to prototype their business ideas and test them out, how to work with the business model canvas to refine their ideas, and how to successfully pitch their idea.
The finals will be held in Stuttgart on 17 April at Generation Media Startup, a practical entrepreneurship conference hosted each year by the Stuttgart Media University.
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