Teams going through to next round:
Enhance
Ebor (formally known as York Student Lettings)
USSR
Networth
High Fliers
Teams Eliminated:
3.14
SuSee
Perpetuus

Nouse will have all news and reactions after this exiting and heartbreaking day (for some…) up soon.

The £600 prize is still up for grabs…

The events of the day went as follows:
11am – 12pm: Workshop by Jon Greenwood – Director of Commercial Services at The University of York, ‘The challenges faced by on campus businesses and advice on how to overcome these.’
David Coppard from Team Ebor said: “it was an inspiring experience which successfully helped towards our final business plan”

12.45pm – 1.15pm: Workshop from David Leung – Lecturer of accounting and finance at The York Management School, ‘How to construct a profit/loss and cash flow and the reasons for their importance for financial planning and budgeting.’
Scott Murphy, Secretary, stated: “David’s presentation was invaluable to the teams and thoroughly demystified financial planning methods. Afterwards, the teams appeared more confident in dealing with areas relating to finance and profit/loss accounts.”

1.30pm – 2.30pm: Workshop by Andy Jackson –Head of Business Development, University of York, ‘Key components of a Business Strategy and how to construct a business plan.’
Oliver Morbey, Events Director, told us what he thought of the day so far: “I think we were successful in providing a series of workshops that cater to the needs of everyone rather than just finance, management or economics students.”

After this, the teams set off to use knowledge gained from workshops to refine their current business strategies.
With all teams done for the day, the judges will now be the ones to decide which of them make the cut.

Results will be announced shortly!

Nouse will be covering the event over the course of the next few days; offering news, results, knockouts and general information from the event.

The first time event from the York Entrepreneurs, set to rival the animation and tension of the fabled ‘York Apprentice,’ was kicked off today in Goodricke JCR as the teams were briefed on their task. With a £600 prize and reputations at stake, it looks set to be a good one.

The competition is based on Heslington East, where land use is currently solely residential. The teams are to design a business plan and deliver a 10 minute pitch for a new business to be based on location. The only limit to this task is the location itself.

The 8 teams entered are:
York Student Lettings
Enhance
3.14
SuSee
USSR
Networth
Perpetuus
High Fliers

Today saw our teams do initial research into potential business ideas, decide upon a business type and gather evidence to support this decision. A draft of a business strategy will also be produced.

Tomorrow the teams will attend workshops given by advisors: Dr. Andrew Jackson, MBA, Dr. David Leung, MBA, ACMA and Mr. Jon Greenwood, in order to help the teams produce a worthy business plan. A 250 word business strategy will be handed in at 4.00pm. By 5.00pm, 3 off the teams will be eliminated.

The pitches and final business plans will be delivered on Thursday. Prolific judges, including YUSU President, Tim Ngwena, will review the remaining teams, with results announced at 4.45pm.

Nouse will be keeping you updated with all the action each day, including results, news, comments from the teams and more. It looks to be an eventful week indeed.