The Entrepreneurs’ ChallengePrize Giving Ceremony

23 March 2006

The Entrepreneurship Centre

Program for this evening

• Introduction• New Business Challenge 2006, overview• ‘Thank yous’• Finalists’ elevator pitches• Venture Capitalist Challenge• Keynote speaker: Joe Sillett, CEO of Woodworm• The Rector• Announcement of prize winners• Venture Capitalist draw• Drinks

Introduction

• Entrepreneurship Centre– Embed entrepreneurship– Support Imperial entrepreneurs

• Entrepreneurs’ Challenge– Ideas Challenge, autumn term– New Business Challenge, spring term

New Business Challenge 2006

• New Business Challenge prizes– First prize: £25,000 including £15,000 in services– Two runners-up prizes: £5,000 including £3,000 in services– Seven remaining finalists: £1,000– All finalists recommended to BBC’s Dragons’ Den

• 45 business plans entered

• 132 Imperial students

• Plus 35 mentors and external team members

New Business Challenge 2006, stats

05

101520253035404550

New Business Challenge 2006, stats

• Entrants by department

Thank yous: Sponsors

Thank yous: Sainsbury Management Fellow Society

Mentoring sessions to Challenge entrants from:

James RabyRichard AtkinsonJulian Fagandini

Richard LyallDan Mutadich

Ernie PokuRobert Rasbach

Thank yous: First round Judges

Tuesday 14 March:

• David Buller, Managing Director, Avantec Ltd

• Andrew Dixon, Co-founder, ARC InterCapital

• Matthew Grey, Founder, Social Suicide

• Alain Panhard, Treasury Manager, Upstream Finance, Shell

• Michael Stephenson, Associate Partner, Human Capital Management, IBM

• Robert Rasbach, Sainsbury Management Fellow

Thank yous: First round Judges

Wednesday 15 March:

• Usman Akram, Analyst, Atlas Venture Group

• Kevin Baughan, Director, NTL, and Founder, Prolego Technologies Ltd

• Ben Holmes, Associate, Index Ventures

• Jonathan Silverman, Partner, Silverman Sherliker Solicitors

• James Raby, Senior MD, MCC Media Advisors

• Richard Atkinson, CEO, Optical Antenna Solutions

Thank yous: First round Judges

Thursday 16 March:

• Martin Bloom, Partner, Cambridge Accelerator Partners

• Peter Baines, General Partner, Advent Venture Partners

• Chris Haley, Market Research Analyst, Engineering/Technology, Imperial Innovations

• Tariq Osman, Head of European Business Development, Ageing and Neuroscience, British Technology Group

• James Raby, Senior MD, MCC Media Advisors

Thank yous: Final round judges

Thursday 23 March:

• Graham Brett, Founder and MD, therefore product and design consultants

• Nicholas Macfarlane, Partner, Lovells

• Charles Martin, Sector Adviser, 3i

• Kevin Sara, General Partner, Reflexion Capital Partners

Thank yous: The participants

All 166 of you!

Thank yous: The organisers

• Sabrina Kiefer, Entrepreneurs’ Challenge Manager

• Solange Dive, Assistant Manager

Venture Capitalist Challenge

• Ten Finalists

• Listen to their Elevator Pitches

• Chose who you think is the winner

• Prize draw:

Win a collector’s item cricket bat signed by Freddie Flintoff after the winner is announced

Venture Capitalist Challenge

• What to look for– Market opportunity/ need– Differentiated product/ service, compared to

competitors– Identified business model/ route to market– Strong team

• Motivation• Persistence• Desire to succeed

• Could you be a venture capitalist?!

Elevator pitches

Our Finalists…

AloxenA novel bioreagent formula to be used in the

advancement of adult stem cell therapy. The target market segments range from research institutions to

biopharma companies and health organisations.

Nikolay Zhukovsky, Maxim Spivak, Tarik Djeddour

A.Spire A.Spire is focused on delivering innovation for people

with respiratory disorders, developing tailored therapy products that are responsive to patients’

individual needs and adapted to suit their lifestyles.

Mario G Iobbi, Vinay Solanki, Michael Ellis, Andrew Selves, Paris Markides

Braille-iant Music Solutions (BMS)

Braille-iant Music Solutions is dedicated to providing the visually impaired with access to learning and playing

music through the use of Braille music. The company's solution is a software package that, uniquely, allows bi-

directional translation between standard stave music notation and Braille music.

Victoria Pollock, Richard Arckless, Alison Ball, Tom Carlson, Suzanne Li-In-Oy

GAG228 (A-Fix)

Re-approximating tissues is currently one of the most fundamental tasks performed in a variety of surgical

specialties. A new bioimplant fixation technology has been developed whose structural characteristics can be

controlled using ultrasound to augment tissues. The aim is to establish a business centred on this core platform

technology.

Adam James,A. Williams

InterventIntervent will generate and commercialise IP and

innovative products in the first aid and wider medical market, starting with a novel life-saving device – the Tongue Sucker. Our route to market will be through

manufacturing partnerships and licensees, taking advantage of existing manufacturing, distribution and retail channels to ensure quick and effective market

penetration

Christopher Huntley, Graeme Davies, Phillip Greer, Lisa Stroux

LithoCisionLithocision will commercialise a new method for

contact disintegration of stones (calculi) in the urinary bladder, ureter, kidneys and gall bladder.

Maxim Spivak, Rob Jarrett-Smith

‘Nap-ease'napease – the easiest way for a parent to

save money and the planet.

Corinne Bacon, Michael Korn, Andreas Zachariah

PartyPayPartyPay is an online ticket agency specialising in private

events that require online payment facilities for ease and convenience. The ticket agency industry has a

large potential to create vast amounts of revenue over short periods of time. Our profit will be generated from

commission, booking fees and other augmented features that complement our core service.

Zacharia Silk, Andrew Sheena, Simon Lewis, Robert Tuley

RockbarDegradation of Steel reinforcement significantly affects the

durability and performance of modern structures. Steel’s low chemical and corrosion resistance demands that it is

protected in concrete or further processed to durable forms like stainless steel with environmental and

economic costs. ROCKBAR combines high chemical & corrosion resistance and lower environmental impact with superior physical properties to uniquely replace

Steel in reinforcement.

Eugeni Nikolaev, Valery Nikolaev, Ben Williams, Nikolaos Vlasopoulos

Swarm Technologies

Wireless micro-sensor network for remote data monitoring

Sunil Kumar, Ariel Lipson, Werner Karl, Michael Larsson, Hum Blackwell

Venture Capitalist Challenge

Who do you think has won the first prize?

Make your selection on the back of the programme

Don’t forget to write your name at the top!

Keynote address

Joe Sillet

Founder and CEO

Woodworm

© Imperial College London© Imperial College London 3030

““Only time will tell whether Woodworm will be ableOnly time will tell whether Woodworm will be able to fulfil its ambitious marketing agenda. to fulfil its ambitious marketing agenda.

So far at least, there is nothing rotten about the first So far at least, there is nothing rotten about the first

three years of this exciting new British brand.” three years of this exciting new British brand.”

Marketing Magazine, 14Marketing Magazine, 14thth September 2005 September 2005

“The company’s logo of a sharp-toothed woodworm looks like migrating from the back of cricket bats to other sporting goods.”

The Economist, September 10th 2005

© Imperial College London© Imperial College London 3131

HOW DID WOODWORM START??HOW DID WOODWORM START??

Looking for an idea to set up a new businessLooking for an idea to set up a new business

Read motivational/business books about successRead motivational/business books about success

Best book read “Think and Grow Rich” by Napoleon HillBest book read “Think and Grow Rich” by Napoleon Hill

My father found an old cricket bat in garage in July 2001 My father found an old cricket bat in garage in July 2001

Spent 9 months finalising bat design, company name, logo and patentSpent 9 months finalising bat design, company name, logo and patentand trade mark applications etc and trade mark applications etc

Completed business plan and raised Completed business plan and raisedinitial capital initial capital

Company starts trading in April 2002 with products available in 5 storesCompany starts trading in April 2002 with products available in 5 stores

© Imperial College London© Imperial College London 3232

Key Steps to SuccessKey Steps to Success

Having an initial point of difference (product design)Having an initial point of difference (product design)

Signing Freddie FlintoffSigning Freddie Flintoff

Kevin Pietersen’s dramatic arrival on the international sceneKevin Pietersen’s dramatic arrival on the international scene

A Slice of Luck – right place, right timeA Slice of Luck – right place, right time

2005 Ashes Series2005 Ashes Series

Great people in the business and lots of hard workGreat people in the business and lots of hard work

© Imperial College London© Imperial College London 3333

Business Development Business Development

200 bats in Year 1 to200 bats in Year 1 to30,000 – 35,000 bats this year30,000 – 35,000 bats this year

£22,000 turnover in Year 1 to £2.5m turnover this year£22,000 turnover in Year 1 to £2.5m turnover this year

5 retail outlets in Year 1 to 330+ retail outlets this year5 retail outlets in Year 1 to 330+ retail outlets this year

© Imperial College London© Imperial College London 3434

THE FUTURETHE FUTURE

Diversification of Woodworm brand into other sportsDiversification of Woodworm brand into other sports

Announcement to be made shortly on next sportAnnouncement to be made shortly on next sport

Grow the brand internationally Grow the brand internationally

Convert brand into leisure/lifestyle brandConvert brand into leisure/lifestyle brand

Sir Richard Sykes,

Rector, Imperial College

And now for the Awards…

• Judges comments:

‘Between us we have seen plenty of seasoned professionals pitching for money, and these teams we saw today were 100% professional and highly credible. The plans

were outstanding and we would have liked to give more money!’

And now for the Awards…

• Final decision came down to the teams the judging panel believed:– Had the passion to succeed– Would use the money to grow the business– Had developed a unique product to solve a market

need

• If you didn’t win a major prize… please prove the judges wrong!

Runners-Up

Runners-up

£5,000

GAG228 (A-Fix)

Re-approximating tissues is currently one of the most fundamental tasks performed in a variety of surgical

specialties. A new bioimplant fixation technology has been developed whose structural characteristics can be

controlled using ultrasound to augment tissues. The aim is to establish a business centred on this core platform

technology.

Adam James,A. Williams

‘Nap-ease'napease – the easiest way for a parent to

save money and the planet.

Corinne Bacon, Michael Korn, Andreas Zachariah

Winner, New Business Challenge 2006

First Prize

£25,000

InterventIntervent will generate and commercialise IP and

innovative products in the first aid and wider medical market, starting with a novel life-saving device – the Tongue Sucker. Our route to market will be through

manufacturing partnerships and licensees, taking advantage of existing manufacturing, distribution and retail channels to ensure quick and effective market

penetration

Christopher Huntley, Graeme Davies, Phillip Greer, Lisa Stroux

And finally…

The Venture Capitalist Challenge

And the winner is…

Thanks for attending!

Join us for drinks and snacks in the Tanaka Business School Forum

(just outside)