Posted on 24/03/2010
The winning team
Royal Holloway students raised more than £1,250 for the Prince’s Trust after taking part in a competition inspired by BBC’s TV show ‘The Apprentice.’ The event combined teams of students from a variety of disciplines who launched and ran successful social enterprises over the course of a week using seed funding of £50 from Royal Holloway Entrepreneurs.
The winning team raised £447 from a range of fun activities including kick up competitions and wet sponge throwing. Dynasti Team Leader Adrian Bulley said, “We learned that there are a lot of challenges and a lot of setbacks which can hinder you from achieving your goal, but if you’re persistent enough, you can achieve what you set out to do.”
Universal took second place by making £350 by selling Krispy Kreme doughnuts on campus. They kept costs to a minimum by buying directly from the manufacturer.
Team Veritas proposed an unusual business model described in the best-selling book ‘Freakonomics’, which enabled consumers to pay the price they wanted for goods by depositing money in an honesty box. The team set up unmanned stalls displaying the bags of sweets and left a voluntary money box requesting £1 per bag.
In total they made just over £169. Team member Monika Cernikova said, “We are very pleased with the results as we proved students are honest. In the test conducted in the book the results showed 87% of people were truthful and paid the full amount, but our success rate was even higher at 90.2%.
Enigma ran a Saturday evening event, mimicking Ant and Dec’s Saturday Night Takeaway, whilst The Chocolate Makers provided students with an endless supply of chocolate – via a chocolate fountain and an assortment of marshmallows and strawberries.
Team MATT-MC-ABE established a company with green credentials by selling Royal Holloway students' unwanted clothing. They received a positive response, with many students asking them to continue selling second hand clothing on campus. We will have to watch this space!
John King, Entrepreneurship Careers Adviser, was impressed. “All the students taking part in this competition utilised their own unique skills and attributes to make the most of their seed funding. The positive attitudes and creativity shown auger well for their futures. However, the real credit must go to the organisers, particularly Frankie Chant and Jess Ratcliffe of Royal Holloway Entrepreneurs, for creating such a successful event.”
The winners of the competition will be presented with a host of prizes by Professor Sir Alec Reed CBE, the Founding Patron of Royal Holloway Entrepreneurs. Sir Reed, a long-time supporter of the College who founded the Reed Global recruitment organization, will return to the College on Thursday March 25 to speak to the prospective entrepreneurs at 6pm in Founders Main Lecture Theatre. All staff, students and alumni are welcome.
For more information about Royal Holloway Entreprenuers or to sign up for future events visit: www.royalhollowayentrepreneurs.com/category/competitions