Funding Update: Samuel Bafunso

Samuel Bafunso (MSc International Innovation (Entrepreneurship), 2016) received an Enterprise Funding award for his business, SB Consultancy Ltd. Here he shares his update.

SB Consultancy Limited was founded in 2016.  SB are the initials for the founder (Samuel Bafunso).

SB Consultancy Limited is a management and marketing consultancy. We provide design, digital and marketing services for  individuals and businesses of all sizes. As a company, we help craft digital experiences that combine design, technology and strategy.

The Lancaster-China Catalyst Programme was instrumental to the birth of SB Consultancy Limited. By being a part of a multidisciplinary graduate team which provided support for two different UK-Chinese company collaborative partnerships; I realised and finally articulated my personal mission, which was to help individuals and organisations, do whatever they do, but better.  Whilst in China, I was very fortunate to work with a few successful entrepreneurs and in the process, I developed a number of productive relationships. This put things in perspective for me, and I decided that when I returned to the UK, I would set up my own consultancy, which offers a range of services to small businesses to improve their overall business execution.

After returning from China, I participated in a few UK-China Entrepreneurship and Investment competitions. The feedback which I received from these competitions gave me the much needed confidence to continue with my entrepreneurial journey.

I have worked closely with the Enterprise Team from the onset, and they have helped shape my company into what it is today. The support which I have received from the team has been invaluable; from spending quality time in working through my business model canvas, providing financial support for my business to introducing me to other successful entrepreneurs within the industry.

With regards to the financial support; I received £500 from the Enterprise Fund, sponsored by Santander Universities, which was very instrumental to the growth of my company.  The bulk of the  fund was primarily used to cover transportation costs to meet my first 3 potential clients in London, Leeds and Lancaster. I also used some of the funding to print some business cards for my company which have been useful at various networking opportunities. Being awarded the enterprise fund made life easier for me at the start and I’m very grateful for that support which I received.

I have now worked on over 12 different projects with a range of clients and the business is growing rapidly. I am very excited with the progress so far and also looking forward to the future. I am very keen to connect and work with other entrepreneurs.

I am very passionate about growing businesses so please feel free to have a look on our website or contact us on any of our social media pages to see how we can help you.


Connect with Samuel on social media and online: Website | Facebook | Twitter |

Bright Sparks Award: Submit your pitches!

Submit a 90-second video pitch to win up to £1,000 to make your idea happen!

Do you have a bright idea which you think will capture the imagination and support of your peers? Then this may be just the opportunity for you…

As you will have probably heard by now, we are busy planning for the re-launch of the Lancaster University Enterprise Awards this December. The Bright Sparks, People’s Choice award is looking for individuals or teams of students, recent alumni (past 3 years) or staff with an idea for a new venture. The proposal may be for an idea that is still as concept stage, or it may already have been registered as a formal trading entity, as long as it is still in the survival stage and has not yet achieved financial sustainability.

The Bright Sparks Award is unique from the other award categories – as not only are we asking for video pitch nominations, but also because the actual winner of the award will be determined on the night of the awards through an audience poll! The winner will receive access to support and up to £1,000 funding from The Enterprise Team through Santander Funding to help make the idea happen.

Think you’ve got a great idea which fits the bill?

To nominate an idea, send a link to your 90 second video-pitch to enterpriseteam@lancaster.ac.uk. It is expected that your video pitch will cover the following:

  • A brief statement of opportunity (pain points for users)
  • A description of the solution you put forward
  • Is the solution desirable? (Consider competitors and alternative solutions)
  • Is the solution viable? (How will it be financially sustainable)
  • Is the solution feasible? (Do you have the skills and resources necessary, and if not what skills/resources would you need and how would you acquire them?)
  • How would the award help you kick-start your idea?

Deadline for submissions: Sunday the 19th of November. 

Please email The Enterprise Team if you have any questions.

Terms and conditions of the Bright Sparks Award:
Entrants will be judged and shortlisted by the Enterprise Team based on the following criteria: desirability, feasibility and viability of idea ; creativity and presentation. The shortlisted videos will be presented on the night of the awards event. Finalists will be invited to attend the awards event where a winner will be judged by the audience. To be eligible, nominations need to be submitted by Lancaster University students or staff, as well as alumni who have graduated up to three years ago. To claim the prize teams need to be able to engage with the offering of the enterprise team to develop their project, which would mean being able to attend regular meetings in Lancaster.

New student-run investment fund

Campus Capital to invest thousands in Lancashire startups

Lancaster University have signed a partnership with venture capital firm, Campus Capital, to bring investment to the region and further strengthen Lancashire’s startup ecosystem. The model is unique in the sense that the fund is part-run by teams to Student Venture Capitalists!

This partnership will see the investment of between £50k-200k in early stage, high-growth potential companies, on and off campus.  There is a particular focus on ‘making sure existing startups who are already doing great things get the investment they need to scale.’ It is hoped that the fund will help to increase opportunities for companies to collaborate with the University, stay and grow in the region.

Campus Capital will open to Lancashire-based startups in the New Year, although companies who are considering fundraising within the next six months are encouraged to get in touch sooner.

Fancy trying your hands at being an venture capitalist?

Students are given the opportunity to take part in an experiential learning opportunity where they will be trained as Student Venture Capitalists to run some of the early aspects of the fund pipeline. In addition to training, students will receive ongoing mentoring and experience of assessing and analysing a company’s investment-readiness. Application to take part in the scheme are now open, you can find out more here.

To find out more, visit the Campus Capital website.

Funding Update: Leon Seefeld

The South Africa Challenge 2017

My name is Leon Seefeld and I am an International Business Management student at Lancaster University. The generous sponsorship of the Enterprise Centre and Santander Universities enabled me to participate in a programme called South Africa Challenge. For two weeks in summer, this programme takes young and passionate people out to the beautiful country of South Africa to develop their leadership and entrepreneurship skills. Through theoretical input and practical experience in the form of social projects, participants grow personally and make a meaningful difference in the townships of Durban, South Africa.

It was an absolutely amazing experience to be exposed to the entrepreneurial environment in Durban. A major part of the challenge consisted of meeting partners and learning about their stories in the space of entrepreneurship. We were able to talk to the Durban Chamber of Commerce, Bizfarm (a company providing entrepreneurial support), Catalyx Consulting (a social enterprise catalysing the CSR (corporate social responsibility) budgets of large corporates and community developing initiatives) and many more. Learning from people who successfully entered this exciting space was truly inspiring.

Through our own project development and implementation, we all were able to learn a lot about how to set up an international project or organisation. Especially the research on a particular issue and the creative collaboration to work out solutions are things that I will benefit from for future initiatives and internationally operating businesses. As previously mentioned, meeting so many partners not only inspired me but also taught me how important reliable business partners on the ground are when setting up something outside of your immediate surroundings.

Since all the people we met are really open-minded and appreciate every outside perspective on the problems that they have been dealing with for a long time, I was able to build a large network of people and contacts that I can refer back to in the future. My work at Enactus Lancaster, dealing with various projects in the space of social entrepreneurship, will benefit from this new network, and even I personally can see myself coming back to Durban and continue working with these amazing people.

But not only my Durban specific horizon was widened during our trip; also, my general entrepreneurial skills like pitching, holding meetings, working with the business model canvas and defining visions and values around an idea were strengthened. I developed both as a person, and as an entrepreneur, and took many more things home than I initially expected. Particularly the early stages of a project and organisation are things I dived deeper into and I worked on my own approach.

Finally, I can say I even refined my knowledge about and view on the entrepreneurial mindset. Whilst creating a workshop for young people to evaluate themselves and decide if they might be an entrepreneur, I did a lot of research. I can now say that I have a clearer picture on what an entrepreneur actually is and what the key characteristics are.

Overall I am really grateful for having had the opportunity to participate in the programme; learning so much about entrepreneurship in South Africa (and in general) and meeting so many inspiring people. I am certain that this experience will play a major role in my future career and engagements. I would like to that the Enterprise Centre for making this possible for me and can only recommend exploring this space to everyone else. This is truly a lesson for life.

Spaces 4 Change

Unlock the potential of unused or under-utlised space in your community

Spaces for Change (S4C) is a UK wide programme funded by Young UnLtd. The scheme is looking to fund and support individuals or groups of young people aged 16-24, to start and run social ventures using under-utlised spaces within their community.

Successful applicants are awarded £5,000 of project funding along with a dedicated award manager providing tailored support, cohort support and peer to peer networking opportunities for sharing knowledge and learning.

Expressions of interest can be submitted up until the 13th of November. Successful applicants will be invited to pitch their idea to a panel in January.

To find out more about the scheme and to apply, visit the Spaces for Change webpages.

£10,000 Funding to help the environment

Do you have a digital solution to an environmental problem?

Are you aged between 17 and 25? Do you have an idea that could help the environment through digital technology, such as improving energy efficiency, reducing waste or increasing recycling?

If so, this is your chance to apply for up to £10,000 of funding from Environment Now to help make that idea into a reality!

This exciting opportunity from O2’s Think Big will not only provide successful applicants with the money, but also support from the Environment Now team, their own professional mentor and other sustainability partners and industry professionals.

Current applications are open until the 8th of September, however this will be followed by another round of applications, open until October the 27th.

To find out more, watch the video below and visit the Think Big website, where you can also read about previously funded projects.

£50,000 Inventor Prize

Got an idea for a product that could improve people’s lives?

Calling all inventors, entrepreneurs, shed-tinkerers, DIYers or life-hackers – if you have an idea for a product which could help improve people’s lives, the Inventor Prize could be for you!

Nesta are launching the prize in partnership with the Department for Business, Energy & Industrial Strategy (BEIS). The prize aims to inspire and harness the potential of the UK’s home-grown inventors and stimulate user-led innovation. The prize will support individuals and small organisations to take their innovative products from idea to market.

The deadline for applications is the 22nd of October 2017.  In November, a panel of judges will select 10 finalists to receive £5,000 as well as bespoke mentoring to develop their product. Then the overall winner will be announced in September next year, winning £50,000 to make their dream a reality.

To find out more and enter the competition visit the Inventor Prize website.

Funding Update: IDDE Ltd

Caleb Adamu and Toby Venning received funding from the Lancaster University Enterprise Fund in 2016 which allowed them to travel across the country and pitch their ideas at national competitions, and meet new clients for their business, IDDE Ltd. Here’s their update.

The Enterprise Team was extremely supportive throughout all our competitions, by helping with business planning and asking the tough questions that friends and family often won’t. On reflection, these types of questions are the ones that reduce mistakes and allowed us to progress further with our business idea.

We co-founded IDDE Ltd after first meeting in 2014 when we both won a £16,000 scholarship to attend Lancaster University for the pioneering MSc International Innovation (Entrepreneurship and Design) in the award winning Management School.

The MSc International Innovation, China Catalyst Programme incorporated demanding UK-China consultancy projects whilst giving us the opportunity to collaborate with Marketers, Engineers, Designers and Computer Programmers. Working for innovative companies gave us direct access to successful entrepreneurs who mentored us through a tough but rewarding two years. Working closely with these entrepreneurs gave us the confidence and insight to realise very quickly that graduate programmes or climbing the corporate ladder was not the career path for us. So we set about making our own future and started planning IDDE Ltd.

Before finishing our degrees we got some experience in the world of entrepreneurship and represented an IP company outside of the programme. We entered three separate UK-China competitions to which we became finalists in all three (HiSTAR Competition, Oxford University; China UK Entrepreneurship Challenge, Lancaster University, University College London; and  Shenzhen Innovation and Entrepreneurship Competition, China Britain Business Council). Receiving £500 from the Enterprise Fund meant that we could travel to Oxford and Edinburgh for the finals of these competitions.

Our success in these competitions led to IDDE gaining our first client. Six months later, we have three clients and we are experiencing significant growth. IDDE Ltd is a design and digital agency which focuses on helping other businesses grow using innovative design and digital solutions. We build bespoke web development packages which aren’t for show; their purpose is to generate and convert sales leads. We tie our growth in with our clients’ growth which has resulted in strong and profitable partnerships.

We have a passion for working with entrepreneurs and people who want to establish and grow their business, especially Lancaster students and Alumni. Feel free to get in touch and discover how we can help you.


Check out our work:

www.idde.co.uk

www.amcorresourcing.co.uk & https://www.facebook.com/amcorresourcing/

www.controlledblastingsolutions.co.uk

Innovator Launchpad Award

Tell your innovation story to win a prize worth £7,500 with Murgitroyd

Innovator Launchpad is a new Facebook community powered by Murgitroyd, one of the largest IP firms in Europe. The Launchpad aims to provide a space for innovators to collaborate, access resources and compete for funding.

If you are a pre-profit business or charity based in the UK, the Innovator Launchpad would like to hear your innovation story as part of their new competition.

The winner of the competition will receive an impressive prize package including:

  • £5,000 cash
  • £2,500 worth of in-kind intellectual property advice
  • Customised Betabrand Space Jacket
  • Professional photo shoot
  • Free publicity, including UK press release and 1-page regional full colour advertisement.

Two runners up will also be awarded £1,000 of in-kind intellectual property advice.

The deadline for you to submit your innovation story is 12pm on Friday the 9th of June. Following submission your story will be reviewed and providing that it is eligible, will be posted on the Murgitroyd Innovator Launchpad Facebook community for public voting.

To find out more and to apply click here. 

Young Food & Drink Entrepreneur of the Year 2017

Win £1,500 and mentoring for your new fine food product!

Inspired by the growing number of new businesses being started by young entrepreneurs, Cotswold Fayre are hosting a competition for young entrepreneurs aged between 18-25 years old who have a new fine food product that they may be looking to bring to market.

You could win £1,500 of funding, a year of mentoring from company Founder, Paul Hargreaves plus help from Cotswold Fayre’s in-house designers to build a strong brand identity.

Applications close: 30th June

To read more about the competition, previous winners and to apply, visit the Cotswold Fayre website.