By completing the entrepreneurship course and project you will develop a complete business plan and present it to a panel of invited venture capitalists and other practitioners.
Recent projects included:
- simplifying technologies for the developmentally challenged
- the development of a hedge fund
- the commercialisation of a technology for conditioning household furnishings
- a consultancy firm providing technical safety management expertise to the Chinese mining industry
If you already run a business this is a great chance to develop new products or business models in a safe environment.
The goal is for completed plans to be attractive to the professional investor. This means that the numbers must add up, patents must be in place, the competition must have been understood and a winning strategy developed. It is often said that investors care more about the management than the plan – in this case the management will be you.
Some students use the Entrepreneurship Project to develop a plan for a new business and then take their plan forward through the Strategic Consulting Project at the culmination of the course.
Pilot project: reducing energy costs and pollution in Indian cement companies
This project, led by Nitin, was ranked the best amongst peer groups in the energy sector and was presented at the semi-finals of the Said Business School Venture fund competition.
The energy-related Entrepreneurship Project was designed to guarantee a continuous supply of alternative fuels to cement manufacturing plants in India. It involved co-processing waste as an alternative fuel and raw material to reduce the use of conventional fuels.
It has enormous potential to reduce cement production costs as well as the amount of waste going into landfill or uncontrolled dumping sites. By using waste, it also provides a cheaper and more efficient alternative to incineration and reduces pollution.
The project was potentially wide-ranging, with huge scope but we quickly realised we needed to have a focused business plan. We concentrated on the most critical element: building a one-year value chain pilot with cement companies that already possess the technology and resources to use co-processing.
The most rewarding part of the project was working with a very diverse team, whose mix of expertise and knowledge was wide-ranging. By the end of term, the entire team was keen to take the project from its planning to the execution stage through investor financing.
For myself, I was able to build networks with industry experts, key organisations and investors that I am very hopeful will add immense value. I truly believe that the leanings from the EP will prove instrumental as I strive towards my goal of becoming an entrepreneur.