Blazing the trail in entrepreneurship, a team of students from the school of life sciences has generated a winning outline business plan for development of a hypothetical treatment for Crohn's disease and ulcerative colitis. Their submission won the top prize in a national competition for young entrepreneurs.
The team, David Russell and Mairead Murnion, calling themselves Biotab, scooped first prize in the Scottish Institute for Enterprise's business plan competition - one of ten teams to enter from the University of Dundee - the greatest number of entries from any university in Scotland.
Biotab picked up £1000 for their successful business plan at a ceremony in Glasgow and will now be eligible to go through to the second round of the competition. Biotab also picked up a prize for the best idea in technology in the first round of the University's own competition for student entrepreneurs - serious business.
Serious business
Third year design students took the serious business prize for best idea in the arts for a proposed new invention to help blind people convert supermarket prices with a hand held scanner. This new invention could allow blind people to swipe and produce a braille print out of public signs.
The new bright idea is by a team of animation students calling themselves Project Mayhem. Mayhem is made up of Andrew Miller, John McGillivray, Janine Douglas and team leader Dave Usher. 35 teams involving 140 students entered the competition.
Deputy principal and director of the centre for enterprise management, Malcolm Horner presented both teams with £250. Four teams of runners up received £100 to take their ideas forward.
The entrants attended a series of workshops during term on unlocking creativity and business planning to help them shape and elaborate on their ideas. All entrants can now enter part two of the competition where they build a business plan around their idea. This will be judged in March when the best plans can win up to £1,000.
John Mackenzie, from research and innovation services welcomed such a large number of entrants: "The competition is a catalyst for student entrepreneurs and is further evidence that the university is an innovative place for students and staff alike. The next stage of the competition will help entrants turn their ideas into business opportunities."
Biotab is now invited to proceed to round two of the Scottish Institute for Enterprise's competition to develop their ideas and work towards the submission of a full business plan on 25 April. During this time contestants will be allocated a business mentor and receive ongoing advisory support from other experienced professionals from the entrepreneurial, technology and investment communities. They will also attend an intensive weekend workshop in March to develop their business skills and receive crucial advice on how to write a winning business plan.