A host of budding student-entrepreneurs were given a helping hand last week when they won prizes at the annual Cambridge University Entrepreneurs (CUE) awards event. The competition is designed to foster the development of sustainable companies from the University. All the participants take part in a series of training events which take them through the key aspects of writing a business plan and give them the chance to network with leading members of the local business community. The winners use their prize money for the establishment of their businesses.
A host of budding student-entrepreneurs were given a helping hand last week when they won prizes at the annual Cambridge University Entrepreneurs (CUE) awards event. The competition is designed to foster the development of sustainable companies from the University. All the participants take part in a series of training events which take them through the key aspects of writing a business plan and give them the chance to network with leading members of the local business community. The winners use their prize money for the establishment of their businesses.
A host of budding student-entrepreneurs were given a helping hand last week when they won prizes at the annual Cambridge University Entrepreneurs (CUE) awards event. The competition is designed to foster the development of sustainable companies from the University. All the participants take part in a series of training events which take them through the key aspects of writing a business plan and give them the chance to network with leading members of the local business community. The winners use their prize money for the establishment of their businesses.
The first prize of £15,000 went to Weather Informatics who provide bespoke forecasting products which enable weather-sensitive businesses to improve their management of weather-related risks. Some 70 per cent of all businesses are significantly exposed to such risks and new financial products, weather derivatives, are being used by exposed businesses to manage their risks. The products provided by Weather Informatics will give forecasts for use in the pricing of weather derivatives.
Speaking on behalf of the winning team, Emily Shuckburgh thanked the organisers and sponsors and praised the University for "having the vision to promote entrepeneurship."
Second prize of £12,500 went to Angiomics, a start-up biopharmaceutical company. Founded by three Cambridge PhD students, Angiomics aims to develop drugs from medicinal plants. Third prize of £10,000 went to Zap Wireless Technologies, a company developing products to replace disposable batteries and power cables in mobile phones, laptops and other devices. Fourth and fifth prizes went to Tritech Systems and Future Vision, respectively, both software companies.
The awards ceremony was held at Robinson College on Friday 2 March, 2001 before an audience of over 150 people including the University's Vice-Chancellor and a range of local high-tech companies.
Sponsors of the Cambridge University £50K Entrepreneurship Competition are: 3I, Amadeus Corporate Partners Limited, ARM Holdings plc, Arthur Andersen, Amanda Staveley Group, Garretts, Generics, Hewlett Packard, HSBC and McKinsey and Company.
Speaking at the awards Dr Hermann Hauser, of Amadeus Capital Partners, praised the improved standard of business plans presented this year and Paul Schofield, of Arthur Andersen, said that he had been impressed by the teams' ideas, enthusiasm and courage. The University's Vice-Chancellor, Professor Sir Alec Broers recalled his own experience as a youthful entrepeneur building hi-fi equipment. Sir Alec said that his years working for IBM had shown him that the entrepreneurial spirit is vital to the success of even large companies.
For further information on the Cambridge University Entrepreneurs Business Plan Competition go to www.cue.org.uk
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