theBizIdea - Frequently Asked Questions

Does the University have a cut on the idea, the business or the winnings?
Unless there is a contractual agreement already in place (for instance through employment) or the business plan is to exploit assets owed by the University, UWE claims no cut of such business or idea from entry into theBizIdea competition.

How to register for the competition?
Registration is requested as early as you can just to show your interest in the competition and to ensure you are on the register to receive all further communications and opportunities available to receive mentoring.

I have registered, what happens now?
You should receive further communications regarding workshops, previous competitors, great ideas, deadlines etc.

How to submit the business plan?
Follow the link, add your details and attach the business plan. If you have any difficulty please contact Ricardo Demarchi (email: enterprise@uwe.ac.uk, tel: 0117 32 81986)

What should the business plan contain?
We have provided a Business plan template and a cash flow template containing headings indicating the information required. These are downloadable from the web-site at the Resources & Templates page, and the cash flow does much of the calculation for you if you fill in the component numbers .

Do I get any help?
Of course, it is our priority to support you every step of the way. Iheanyi Ibe (Frenchay campus) and Kim Brookes (Bower Ashton, St.Matthias, Glenside campuses) from the Ideas Factory are available to provide information and advice to help you develop your idea. Just call Mary Allen on 0117 328 1079 to set up an appointment or email ideasfactory@uwe.ac.uk so we can arrange a time.

Should I work independently?
A lot of the project work you will need to do yourself, but there is a lot of support and mentoring to help you through the process stage by stage. See item above.

How many people should be in each team?
As many as you would like, from 1 upwards.

Can I enter with more than one business plan?
Yes, as many as you would like, with as many different teams (including 1 member teams) as you like

What happens to my business plan?
Your business plan will be kept in confidence through-out the process by the organisers in UWE.
The only external persons to see it will be the judges (who will sign confidentiality agreements with UWE to cover their involvement in the competition).

Are the workshops compulsory?
No. But they are incredibly helpful to guide you through the competition as well as for self development even if you are not entering the competition.

Is the filming compulsory?
No, it is only for the finalists, who will normally be expected to participate. Times are chosen by the finalists in slots of 2 hours. Locations are also chosen by the finalists from a list of options.

Do I have to be a Business student to enter the competition?
No the competition is open to students, staff and alumni (up to 5 years post graduation) from any course and from any discipline. Most of the past winners have not been Business school students.

What do the categories mean? Can I submit the same idea in more that one category?
There are 3 different categories. Business, Design and Social Enterprise. Click on the links to see a detailed description of each category. Your business plan should be entered into the strand that most closely matches the activities of the business proposal. The organising team reserve the right to change the category in which the business plan is considered if it considers it appropriate.

What happens if I have missed the deadline?
Contact Ricardo Demarchi at enterprise@uwe.ac.uk, or by phone on 0117 32 81986

Where are the rooms for the workshops?
See the room time table here.

Where will the presentation evening be?
At the UWE Bristol Exhibition and Conference Centre. The largest exhibition and conference venue in the South West. Just half a mile from the M32 motorway, it's one of the most accessible venues in the South West and beyond.

How to get to theBizIdea Award Evening at the UWE Bristol Exhibition and Conference Centre?
Click here. http://www.uwe.ac.uk/maps/exhibitioncentre_map.shtml

Will the competition cost me anything?
Nothing at all. The workshops and support are provided totally free. All you have to do is to dedicate your precious time to prepare a good business plan in order to succeed.

What is the prize?
The winner of each category wins a cash prize of £5,000 together with a year's free licence to UWE Ventures, Bristol (which includes one free desk space in the UWE business incubation centre on Bristol's Harbourside, together with free associated business start-up advice and mentoring from the business support team).
The second prize in each category is £2,500 cash.
If we are able to persuade any other sponsors to provide any further in-kind prizes for the competition these will be announced in due course.

Does my idea have to be big?
Any idea is welcome. The business plan has to show that the business will be self - sustainable (i.e in the long-term not make a loss).
If you are not confident about your idea and would like to discuss it further contact the Ideas Factory - a FREE service run by UWE for students, staff and alumni who want to find out what it takes to further develop their ideas into a progressive project or even a viable business enterprise. Iheanyi Ibe (Frenchay campus) and Kim Brookes (Bower Ashton, St.Matthias, Glenside campuses) are available to provide information and advice to help you develop your idea. Just call Mary Allen on 0117 32 81079 to set up an appointment or email ideasfactory@uwe.ac.uk so we can arrange a time.

Do I have to have an idea?
Not really. You can work with someone else who has one.

Do I have to have a business already?
Not at all very few applicants do. Most, but not all, of the winners do set up their business afterwards.

How about if I already have a business?
If the business plan is not related to a currently running business that members of the team are involved then there is no restriction.
If the business plan to be submitted is related to a business that is already trading then in order to be eligible the business should not have been selling products or services for more than 18 months at the date of the submission. The competition will be beneficial to your current business strategy.

Do I have to set up a business if I win the competition?
No, it is entirely the decision of the winning teams to do so or not. However, most of the winners do set up their business afterwards. Even if you don't set up a business at least you will have benefited from the learning, have obtained some know-how, and established some useful networking contacts if you change your mind one day.

What do I do if I have a question that is not answered satisfactorily above?
Contact Ricardo Demarchi by email at enterprise@uwe.ac.uk, tel: 0117 32 81986).