Your favourite trio is back with an update on the progress in the NovaUCD Student Enterprise Competition. Moving onto the final week on Monday, we’ve covered a lot in the last three weeks.
We spent the 2nd week working on Design Thinking, leading us to exercises on Prototyping, and mapping the environment around a business relating to Formula Student. We created a rough prototype of the learning platform we intend to establish, with a video pitch to go alongside it. The lessons we had this week taught us what to include here to allow us to really create a solid basis from which to grow once we got some feedback.
This feedback came from our Demo-day in week 3, where our Formula Training team were the most sought after group, with nearly 1/3rd of the entire audience joining the zoom call asking to watch our presentation! Many members from the wider UCDFS team came to watch and give feedback, along with a handful of interested strangers. We really appreciated everyone coming to see us, with their constructive criticism and praise helping us to improve both our pitch and our platform.
We were then mentored in the financial side of establishing a business through the Lean Start-Up model. This involved learning about how to effectively fundraise, manage our finances now and as the team develops in the future, and how to incorporate this into our final pitch. It’s heads down for the next week now, we present our finalized model to the judging panel on June 19th. Wish us luck!