Digital Business Start-up Challenge
What is the Digital Business Start-Up Challenge?
The Digital Business Start-Up Challenge is a structured fast-track digital start-up support programme for people with the passion, to start their own digital business. The programme, run by Coventry University, offers a complete support programme, from helping with market research and developing your idea through to building a successful global brand.The ﬁrst part of the Digital Business Start-Up Challenge is a three-day intensive programme which will take place in May 2017.
This will examine your business idea and help you with:
- Preliminary market research
- Legal issues
- Branding, marketing and sales
- How to deliver the perfect pitch
The programme culminates in a “Dragons’ Den” event where you will be given the opportunity to pitch your start-up idea to a number of experienced business people and leading entrepreneurs. If you can persuade the business “dragons” that your idea is good, they will be your mentors and you will have won a place on the 12 month programme.
Following the three-day programme, the Digital Business Start-up Challenge will begin ofﬁcially in June 2017 and will end in May 2018. There are many challenges along the way for start-ups and the Digital Business Start-Up Challenge will help you address these.Building a successful digital business is going to be hard work but, if you are prepared to put the time and effort in, the 12-month Digital Business Start-Up Challenge will provide you with the right contacts and mentors to improve your chances of success.
Who is it for?
The Digital Business Start-Up Challenge is for staff, students and recent graduates of Coventry University to build a global business in a range of different sectors ranging from health through to media and software. The only restriction is that there must be a digital focus to the product.
Why are we offering this opportunity?
Taking a start-up from idea to a global brand takes a great deal of experience, effort and luck. There are many ways start-ups can fail, the most common are:
- Not understanding the market and building the wrong product
- Not getting the right level of investment to build the business
- Lacking the right combination of skills to build asuccessful product
How can we can help?
The Digital Business Start-up Challenge helps you transform your idea into a viable business by providing a structured programme of support in return for a stake in your company. Our programme of support includes expert advice as follows:
- An entrepreneurial mentor with extensive industry contacts and experience in digital start-ups
- An experienced business mentor to help you understand the industry sector and set up your company
- Technical support from university academics
- Guidance in applying for grants and resources
- The opportunity to work with angel investors and learn how to apply for venture capital to support the growth of your business
We can offer you a number of resources to help you to make the most of the expert advice offered. These include:
- The use of dedicated University incubation space
- Travel expenses and funding to help you to carry out extensive market research
- The opportunity to spend some time in New York and Silicon Valley, meeting global leaders in your chosen ﬁeld
- Financial and legal services advice
Beyond the ﬁrst year
The aim of the programme is for you to start up a sustainable business within 12 months. In order to be successful, you will aim to achieve a measurable impact and get second-round investment before the programme ends.