A device that could improve treatment of an eye disease affecting millions worldwide has won a Universities South West Enterprise Award 2009 (USWEA). The prototype, which reduces the frequency of painful and costly injections for macular degeneration, a condition that can lead to blindness, is about to undergo clinical trials. Called Selo, the device is being developed by Dr Srilaksmi Sharma and Michael Cornish from the University of Bristol.
Their business idea came top in the staff/alumni category at the recent awards ceremony, hosted by the University of the West of England (UWE) at its new Exhibition and Conference Centre.
Winner of the award for best student plan was Jennifer Griffiths, also from the University of Bristol, with her business idea called Snap Fashion. Her idea is for a price-comparison website with a difference, where fashion-hunters can upload a photo of their desired item and let the software find the best match at a bargain price.
She said, “Receiving this award is great. The cash prize will help me to build the business and winning means I am more confident going into meetings where I could potentially get more investors.”
Nine Universities from the South West of England competed in the region-wide competition aimed at finding the best idea in the west. The competition’s goals are to encourage people to set up businesses, to become more employable, to learn skills and to stimulate the regional economy.
The importance of clarity of vision as one of the ‘soft skills’ needed by entrepreneurs was recognised by UWE Vice Chancellor Steve West. He said, “This competition recognises the value of entrepreneurship, business talent and acumen. Universities are stepping outside their academic comfort zones into the real world, showing they are prepared to innovate, be creative, be brave and courageous, be visionary and entrepreneurial, and be able to recognise risks and mitigate them.”
The USWEA have grown from individual Universities’ business plan competitions, and the previous inter-University competition, the Knowledge West Enterprise Awards. Guest speaker Gillian Higgins, who won last year’s KW Enterprise Award with her company Horses Inside Out, gave an inspiring account of how winning the accolade had helped her business grow. Combining her skills with horses, anatomy and as an artist, she paints the bones, muscles and internal organs on the sides of horses. As they move, she can demonstrate to horse owners and trainers which muscles are being used, showing how the musculo-skeletal system works, and aiding diagnosis and therapy.
Gillian, who is a graduate from Royal Agricultural College said, “What a year it has been since winning last year. It gave a great financial boost to the business, raised its profile and boosted my confidence.”
The runner-ups of the staff/alumni award were Poppy Stephenson and Andy Smith from UWE. They are part of the Bristol Festival Community Group, which organises an annual volunteer-led community festival, showcasing South West talent in music, comedy, art and circus skills, and providing valuable work experience. Andy said, “Being recognised by this competition is great – it means other people get our idea, and understand it. We are gaining massive prestige as well as money, which opens up opportunities for sponsorship and helps get other sponsors on board.”
The runner-up for the student award was James Zorab, with his idea for connecting UK students abroad with landlords and services in the cities they are studying in.
Judge Nick Bacon said, “Starting a business is like jumping off a cliff – you either hit the bottom or fly with the eagles. This is not a good ideas competition – it is a serious strategic business planning process.”
Serial entrepreneur Andy Nash, who is chairman of Merrydown Cider plc and of Somerset Cricket Club, also spoke at the awards ceremony. He said, “Despite the harsh economic conditions, you can’t keep entrepreneurs down. Opportunities always exist, and entrepreneurs must grasp them. The most important skills are the soft ones – leadership, vision, looking after your assets and looking after the people that look after them for you. It is about teamwork and passion – and that’s what strikes me about these contestants.”
The awards offer a total prize fund of £10,000 to recognise and reward students, staff and alumni for their efforts in setting up new businesses and social enterprises. There are prizes for the best student plan and for the best staff/alumni plan, with runner-up awards for both categories.
Institutions taking part in the competition were: Arts University College Bournemouth, University of Bath, Bath Spa University, University of Bristol, University of Gloucestershire, University of Plymouth, Royal Agricultural College and the University of the West of England. The competition is part of the Knowledge Escalator South West (KESW) programme which has been supported by over £2.3 million of European investment through the South West RDA.