These slides have been written with a slant towards trading for profit. Social Enterprise may declare ..not for profit.. and in this interpretation that means you spend everything you earn on the reason you have established the social enterprise. This isn’t about getting donations or relying on grants for Social Enterprise, the ambition for winners here, is for stand alone sustainability and maximum potential for growth. Donations and grants might be a part but not the whole here and it is an enterprise model and not charity model we are aiming at. The vocabulary may not be a fit as a result but if you think sustainability and surplus when you see the word profit you wont go far wrong. Please contact me if further guidance is firstname.lastname@example.org
For Social Enterprise the vocabulary is different but the need is the same.Whose a typical beneficiary and who will use it first.How many have the problem and is the problem growingHow do they get help now, will that be the same for youIs there a lot of help already, who is already doing somethingWho pays for the solution.
Here for Social Enterprise substitute the word profit for surplus. Its important to know what costs are and to cover costs from income. A surplus in this context is about sustainability and potential for growth so you can do more by your own efforts.
StartUp Sussex July 2013 Application Process
If you are reading this, well done you have decided to take the plunge and enter the competition.. Iwish you every success.The following slides simply expand upon the requirements in the application form which you fill inonline.Once that’s done we identify a short list of presenters for a panel of judges and determine thewinners.The application form mirrors some of the process anyone might take to get to the bottom ofwhether their idea for a working enterprise, social or otherwise, has a real chance of success.It’s a starting point and win or lose( because it is a competition in the end) you may find that youneed to do more work to move forward. So everything you do here isn’t wasted, win or lose..It’s justthe start.Good luck.Paul JordanCompetition Co CoordinatorSussex Innovation Centrepaulj@sinc.co.uk
Award Criteria for Social Enterprise• students, staff or recent graduates (graduated within 1 year)• over the age of 16• living in the UK for the duration of the project• who are individuals or part of an informal group
Award Criteria for Social EnterpriseProjects must:• benefit the public or a community in the UK• demonstrate a connection to the Higher Education Sector• need a HE Social Entrepreneurship Award to ensure their success• offer a learning opportunity for the applicant(s)• be a new initiative – not a continuation of ongoing operations• not be part of the applicant’s paid employment• be an entrepreneurial solution to a social problem• instigate social impact or social change• not be for activities outside the law, against public policy or anythingthat fosters ethnic, religious or commercial disharmony
Your Vision; Please describe your business/ projectwhen it’s successful.100 words Max.Suggestions:• Description of the finished product or service• How will customers discover the product or service• Who is using it• When and how will revenue and profit be generated• How will it be delivered and who is involved
What is/ are the problem/problems you are solving?100 words Max.Suggestions;• What job are people trying to get done• How big is the problem• Why do people care about the problem,• Whats the pain suffered/ difficulty experienced• What have you done to understand the problem
What are the current solutions?50 Words Max.Suggestions:• What is the current solution• What are the major failings• Who delivers the solution• How many deliver solutions• Is the solution part of something else- overdeveloped/expensive
What is your solution?100 Words Max.Suggestions:• How does your solution solve the problem• How easy is it to use will it change behaviour• Do you offer the whole solution• What are the unique features and benefits• Why hasn’t anyone found a solution before
Potential customers & market? What is the potentialdemand.50 Words Max.Suggestions:• Whose a typical customer and who will buy it first.• How big is the market now and likely in 5 years• How do they buy the current solution, will that be thesame for you• Is there a lot of competition in the market, whodominates the market• Is the market growing, is it a global opportunity
What costs? What pricing? What finance? Anyevidence available50 Words Max.Suggestions:• What will it cost to make and sell. What is the profit oneach sale• What will you charge and why.• How many will you sell and when will you start selling• How much money will you need to start the business• What will you use the award for
How far have you come in terms of developing theproposed venture?50 Words Max.Suggestions:• Concept / prototype/ Does it work• What research has been done or is needed to completethe project. cost?• Who have you asked for help; technical/customers/buyers/sellers• Is this the complete offering or first feature of a largeroffering• What other funding have you explored
What are the challenges/barriers to success? Identifykey milestones50 Words Max.Suggestions;• Money needed to deliver the first sale• Market knowledge• Personal skills• Time• A working product or service
Please outline personal learning and development thatyou hope to gain from this project50 Words Max.Suggestions• How to skills• Skills needed as an entrepreneur• Personal strengths and weaknesses• Team building• Creative problem solving