Entrepreneurial students raise £3,109 for charity
14 June 2017
14 June 2017
First year undergraduates on the Entrepreneurship: Key Debates and Concepts module have put their business skills to the test while raising cash for good causes.
Twenty-eight teams were all given a challenge to raise as much money as possible in two hours. They had to raise the money entrepreneurially rather than through charity donations, thereby utilising the skills which they had learnt this year.
Teams came up with a range of different business ideas.
The winning team were El Mejor, which appropriately means “the best” in Spanish, raised £795.80 by selling Krispy Kreme doughnuts on behalf of UNICEF, with labour provided by MB Connections and sponsorship from RMFC.
Team member Muge Ortucu said: "The summer term entrepreneurial challenge acted as a hands-on experience allowing us to use the knowledge gained in the classroom, outside of the classroom."
Ray Miah added:"The challenge taught me; that creativity and entrepreneurship are synonymous: meaning one cannot exist without the other; that all it takes is a diverse team of hackers and hustlers to think outside the box, and pull off a risky yet exciting project that blossomed with tremendous success; and ultimately the challenge taught me to work smarter, not harder."
August Halvorsen said: “I experienced how testing in the market is much more effective than intricate planning when evaluating the validity of an idea.”
One team, the Henna Hunnies, started a business giving henna tattoos, raising £389.50 in the process. Team member Elizabeth Tomkins said: “The summer challenge was great because we had the opportunity to explore entrepreneurial concepts such as human capital and entrepreneurial risk in a real-life scenario whilst having a fun evening!”
Other teams raised money by, among others, organising a film night, cleaning student kitchens and toilets, holding a cake sale, promoting Lancaster retail outlets on campus and organising a FIFA game tournament. The money raised went to more than 25 charities.
Module convenor Magnus George said: “To teach entrepreneurship well, students need to experience first-hand some of the highs and lows of running their own venture. Controlled experiments like the summer term trading project, while not actual businesses, provide a safe way for students to encounter risk, uncertainty and the innumerable problems that any new enterprise will encounter. These experiences therefore provide memorable personal insights that bring study to life. I am pleased that Lancaster is in the forefront of progressive experiential entrepreneurship education.”