Student and alumni success Stories

Venture Further winners set to take on Europe

Thursday, January 10, 2013

Venture Further winners set to take on Europe

The winners of our Venture Further 2012 business start-up competition have reached the European final of The Indus Entrepreneurs (TiE) International Business Plan Competition.

 

The Kaffeination Ltd. team, behind the caffeinated energy sweets ‘UPs’, is made up of MSc Innovation Management and Entrepreneurship graduates, Matthias Schmid and David Reetz. They based their TiE competition entry on documents drawn up as part of their Venture Further entry.

For the first round, the team had to submit an executive summary for their business proposal which was assessed by a panel of judges before successfully passing to the second round. They then submitted their business plan for the second round.

 

Matthias commented: “We developed our business plan based on the original plan we produced for the Venture Further competition. Thanks to the support from staff in the Centre, it was easy to build from the original document.”

 

The team have now reached the European final in Brussels where they will compete with other teams from across Europe on 8 and 9 February. In preparation for the final, they will receive mentoring from Barclays bank and the Enterprise Ventures (EV) Group to perfect their business plan.

 

If successful in the European final, they will go on to compete in the World final in Texas, USA for a chance to win part of a $1.5 million prize fund in exchange for equity in their business.

 

Matthias added: “Venture Further helped us to sort our ideas and the direction for our business. With help from the team at Manchester we were able to produce a professional business plan and better understand our product and its market.

 

“I would encourage anyone with a business idea to enter Venture Further. It’s a safe environment to test your ideas and builds a great foundation for the next steps.”

 

Venture Further 2013 - make your business idea a reality >>
TiE International Business Plan Competition >>

UPs website >>

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