24 October 2012

Battle Of The Bright Ideas

When it comes to nurturing and developing the entrepreneurs of the future, The University of Sydney’s Genesis Competition plays a starring role.

Now in its fourth year, this cutting-edge event features two streams – one centred on the commercialisation of new technology and innovative ideas, and the other based around much-needed social entrepreneurship. The actual format sees rival student teams (who have first submitted a one-page concept synopsis) attend a series of industry expert and academic workshops where they receive tutelage on areas ranging from start-up financing to marketing and legal issues.

 Each team then presents an improved business pitch, with the best 10 assigned an industry mentor who works with them on fine-tuning their final presentations. The competition culminates with a 10-minute pitch to a panel of judges, with the winning team receiving a cash prize and desk space at an entrepreneurial start-up.

Importantly, while there can only be two winners, all participants emerge from the process armed with invaluable knowledge and insight as well as potentially beneficial industry and mentor contacts. In short, it’s a competition for anyone who’s serious about running a real business in the very near future.

Of course, our support and assistance for budding entrepreneurs extends well beyond the boundaries of the Genesis Competition. Indeed, The Business School can also:
  • Provide business flowchart diagrams and tools for explaining, clarifying or improving revenue models.
  • Facilitate access to a large range of entrepreneurial support networks or people in similar industries.
  • Facilitate access to external resources such as business incubators and the knowledge of experienced entrepreneurs.
  • Offer advice on start-up finance options, including angel investors and venture capitalists.
It’s no secret that the development of original business ideas engenders no shortage of testing challenges. However, we believe our initiatives and expertise can help smooth the way forward and provide impetus for tomorrow’s entrepreneurial professionals.

Author: Andrew Lee – Associate Finance Director – University of Sydney Business School

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