More than 75 young entrepreneurs battled it out at Lancaster University Management School (LUMS) last week during the final of this year’s Next-Gen Entrepreneurs Challenge.

Sixteen teams from eight schools and colleges across the country took part in the contest, which is designed to give young people their first taste of entrepreneurship and the world of business.

Challenged to come up with a business idea to address one of the UN Sustainable Development Goals, teams of up to six students were judged on how they define the market for their products and how to stand out amongst competitors, as well as setting out their objectives, strategies, and financial plan.

After working on their projects over the course of 100 days under the guise of mentors from the world of business - LUMS' own Entrepreneurs-in-Residence (EIRs) - the teams gathered this week to compete in heats, where they delivered five minute presentations of their business plans before answering questions from the judges.

After a series of heats, the day culminated in a final where the Entrepreneurs in Residence judges announced SafeSteps from Runshaw College as worthy winners of the top prize for their proposal for a national self-defence course for high school students, aiming to reduce safety inequalities across the UK.

The winning team (pictured above) consisted of Izzy Morley, Emilie Carr, Isla Stenson, Jennifer Pike, Layla Mostafa, and Megan Doherty.

Izzy Morley said on behalf of the Safesteps team: “As a team, we had a great day at the Next Gen Entrepreneurs Challenge. We loved our day at Lancaster University and the experience we have gained. We are grateful that we were chosen as this year’s winners and hope to return next year.”

Brian Gregory, Senior Teaching Fellow at Lancaster University Management School and Director of the Entrepreneurs-in-Residence network, said: “We were delighted to support the Next Gen Challenge, inspiring the entrepreneurs of the future. It was heartening to see the teams showcasing their business ideas, which they had worked so hard to develop. Clearly a great deal of preparation and rehearsal had been put into the presentations, which were of a very high standard and inspiring for our EiRs and all of the audience to watch. Well done to all of the teams and everyone involved.

"Our thanks also to our EiRs, who are incredible, influential people working on the front line of business, facing real-world challenges our students and the teams are learning about. They were very happy to support and mentor teams, it was a win-win for the students and EiRs. This included one of our EiR mentors, based in India, emphasising the importance of internationalism.

"We hope everyone participating valued the experience and chance to present their ideas at the final in one of the Management School's main lecture theatres."

The runners-up, Purpose from Our Lady’s Catholic College, with Entrepreneur in Residence Victor Giannandrea

Student teams from a range of schools and colleges took part, including Blackburn College, Burnley College, Holy Cross College, The Merchant Taylors, Newcastle Under Lyme College, Our Lady’s Catholic College, Runshaw College, Wigan and Leigh College.

Gulnaz Smith who teaches Business and Economics brought a group of students from Wigan and Leigh College to the competition for the first time. She said: “This has been a fantastic experience for them. It’s nerve-wracking for them just presenting in class, let alone to an audience like this, but it’s been such a positive thing for them to do.

“It has definitely helped them to prepare for university and gain some employability skills as they have had to organise themselves to prepare for this and be driven and responsible – and we’ve seen a great shared work ethic amongst the group.

“From my perspective as a teacher it’s been helpful as I’ve learned a lot about Lancaster. I now have a far better understanding of the courses that are available, and I had no idea about the work experience abroad options, for example – so it will help me inform my students.”

Qeisim Ditten, who teaches Design, Planning and Surveying for Construction at Blackburn College, said the experience has helped strengthen relationships and respect between students and teachers.

He explained: “Seeing the change in the group from when they were set the task back in September to now has been huge. Their interest and engagement in the competition grew when they met their EIR and the project gained momentum, and we have seen a different side to the students as a result. They didn’t think they could do this, but both our teams made the final! They’ll go away from this knowing that when it comes to the crunch, they can work really well.

“Their confidence has grown massively but for me, personally, the fantastic thing has been helping the trust factor between us teachers and our students. They’ve realised that if they listen to our advice and access the support available via college then they can rise to this sort of challenge.”

Next year’s annual Next-Gen Entrepreneurs Challenge will take place in March/April. If you are interested in getting your students involved, please contact lums@lancaster.ac.uk

The third-placed team, EmpowHER from Blackburn College