Last week, five student entrepreneurs took the challenge to present their unique business concepts as part of the ‘Incubator Challenge’. The idea comes from trying to develop and nurture a new business venture and present that idea to an audience. The students had been working for several weeks developing their ideas, considering all aspects of the business concept through a business plan. This included marketing, design, budgets for product development, research, patenting, production and financial forecasting as well as the product’s place in the marketplace and competitor analysis.
The students showcased some great ideas including an app that can identify clothing brands and clothing items, a sustainable energy device, a product to improve the performance of in-ear music buds, an app for solo travellers to share experiences and make friends along their journey, and a breathalyser device to promote safe driving. In the end, there could only be one winner and that was Tofi with her BrandIT app concept.