YOUNG ENTREPRENEURSHIP SCHEME
This award is open to all students of the LSC Group of Colleges.
The latest winner will be announced at a special event in Autumn 2012.
Existing final year LSC MBA students and MBA Alumni are encouraged to consider entering this competition to win an investment of £25,000 in a new business scheme. This should be a real business opportunity and a carefully planned future operation – so that the winner can then use the investment in a practical business operation in their home country.
Each student must enter by submitting a detailed 5 year Business Plan – incorporating market research, time scales( including financial projections for three years ), costs ,work force, marketing plans ,risks ( including future problems ), future potential and operational details – for a start up enterprise of their own choosing.( Minimum 5,000 words )
The proposal should include a section on personal skills, market contacts and relevant personal experience (please limit the text of the details to information which is essential to the success of the project)
This could be in any business field—engineering, IT, hospitality ,retail, medical, service,etc.
Please note:
- This must be an original idea and plan.
- The entry cannot use an existing /family business.
- The prize money cannot be used for any purpose other than an investment into the start up enterprise detailed in the business plan.
- The prize money cannot be the entire investment for the project—additional investment streams must be identified and included.
- The prize winner(s) will be presented at an awards ceremony.
- The prize winners will also have a valuable new entry on their CV.
- The preparation of the Business Plan is not part of the Academic course at the LSC Group.
- The entry can be prepared by a small group, a pair of students or an individual.
- The entries will be judged by senior academic and management staff and their decision is final.
THE SUCCESSFUL ENTRIES WILL BE USED TO OPEN A BUSINESS - BY THE WINNERS - BASED ON THE SUCCESSFUL BUSINESS PLAN, AND LSC WILL TAKE A 25% SHAREHOLDING IN THE COMPANY IN RETURN FOR THE FINANCIAL AWARD.
LSC wishes you the best of luck.
