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Business funding prize on offer to enterprising students

Published: Monday, 07 November 2016   Category: All Graduate Jobs News

A national competition to find the country’s best student business idea has attracted some of the most enterprising students in the UK.

Winners of The Varsity Pitch Competition 2016, which is organised by NACUE, the National Association of College and University Entrepreneurs, will receive a £10,000 prize to fund their business idea.

The competition was open to students and recent graduates from colleges and universities right across the UK.

Over 300 applicants where subsequently screened down to a shortlist of 30, who were then invited to make a pitch lasting two minutes, before six finalists were selected.

The finalists are required to present their business idea in front of 200 entrepreneurs, members of the media, public figures and investors in order to claim the prize.

The competition has now been running for seven years and sees graduates and students submit a digital application for a new business idea.

Business innovation amongst young people

Over 60% of the applicants for the competition were from London-based universities and colleges, with more than half having already graduated.

Holly Knower, Chief Executive Officer at NACUE, said: “We were thrilled with the quality of this year’s entries which says a great deal about how strong business innovation is amongst young people in Britain.

“It certainly proves that student businesses are amongst our most innovative and creative and bodes well for the future of British business.”

The primary aim of the scheme is to provide a platform for young entrepreneurs so they can showcase their talents and skills and grow their first business.

Dr David Landsman OBE, Executive Director of Tata Limited, who sponsor the competition, said: “Successful entrepreneurs are special people.  But, in today’s fast-changing world, we all increasingly need entrepreneurial skills, wherever we work.

“NACUE and Varsity Pitch do a great job in providing a forum for developing and championing those skills and helping young people start and grow their first business.”

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