What is the Entrepreneurs’ Challenge?

1. The London Entrepreneurs’ Challenge 2008Building the next generation of entrepreneurs in LondonTimothy Barnes, Executive Director, UCL Advances8 January 2008

2. What is the Entrepreneurs’ Challenge? • Purpose • To encourage the next generation of entrepreneurs • How • By helping students and staff to think about how their ideas can be applied commercially and demonstrating the basic concepts needed to communicate a new business idea

3. Who is Behind it? • UCL • London Business School • Centre for Scientific Enterprise London • UCL Advances

4. Who am I? • Currently… • Executive Director, UCL Advances • Non-Executive Director, Complex Matters Ltd • Angel Investor • Formerly… worked with over 20 start-ups as: • Founder and MD, Lodestone Innovation Partners Ltd • VC investor, Gorilla Park NV • Management Consultant, Andersen

5. Who am I? • Industry Sector Experience • Bio-tech/pharmaceutical • Design services • Expert network services • Entertainment and arts publication • Data validation software • Online search technology • Screen technology • Massage retail concept

6. Outline of the Entrepreneurs’ Challenge • Workshops • Key topics • Guest speakers • Competition • Phase 1 - “The Idea” • Phase 2 - “The Plan” • Mentors and external judges

7. Competition Requirements • Phase 1 • “Preliminary Venture Analysis” • Structured document with headings • Two to three sides and an “elevator pitch” • Phase 2 • Business Plan • Covering all the major areas • Seven to ten sides and a presentation

8. Competition Summary • Anyone at UCL or LBS can enter • Team prizes - £15,000 in total! • Round 1 • Winner - £1,000 • Runner-up (UG and PG/Staff/Alumni) - 2@£500 • Round 2 • Winner - £5,000 • Runner-up (UG and PG/Staff) - 2@£3,000 • “Provost’s Prize” - Best UCL-LBS collaboration - £2,000 • Approximate Weighting of Criteria: • PVA (Phase 1) or Plan (Phase 2) 60% • Presentation and Q & A 30% • Overall Commercialisation Potential 10%

9. Key Dates • Workshops • 8 January - Introduction to the E-Challenge and "What makes a good business idea?” • 15 January - "How to build entrepreneurial teams" • 22 January - "How to write a business plan" • 29 January - "How to pitch your idea" --1 February - Phase One Idea Assessment Forms Due-- • 5 February - Phase One Final and "Meet the mentors" • 19 February - "Market entry planning" and "Conducting research" • 26 February - "Introduction to intellectual property" • 4 March - "Finance for beginners" • 11 March - "A summary of summaries" and "Hints and tips surgery" --15 March - Phase Two Business Plans Due-- • 18 March - Phase Two Final

10. Where Are They Now? • Nearly 2,000 registered participants over the last five years • 200+ ideas developed • 100+ plans written • NeuroDelta - Winner in 2003 • Company formed; DTI grant winner • Greenpoint - Winner in 2004 • Major discussions; interest from BP • Intelliglass - Winner in 2005 • UCL evaluating spin-out potential; technology now being licensed • Tactile Response - Winner in 2006 • Won two further BP competitions and now formed as a business • Your Safe Planet - Finalist in 2006 • New business formed; finance raised • Audio 3 - Winner in 2007 • Awarded a Innovation Central Bursary and currently producing a new prototype

11. What Next? • Register • www.londonentrepreneurschallenge.com/enter.html • Download “E-Challenge Handbook” • www.londonentrepreneurschallenge.com/support.html • Consider ideas • Email to: info@londonentrepreneurschallenge.com • Find a team • Read emails, listen to pitches • Check the website for updates • www.londonentrepreneurschallenge.com

12. The End Any questions?