The New Business Ventures and Innovation class at Avondale Business School had the opportunity this week to pitch their business ideas to a panel of judges with a high level of business expertise. These students were set the challenge of overviewing their business, honing in on their target markets, evidencing their market research, assessing their competition, providing details of their marketing strategies, and outlining the financial projections for the business idea they had developed, in only 10 minutes.
The panellists, who included current commercial managers of sales and operations planning, new product development technical managers, research and development managers, solar energy consultants, and former company directors, were impressed by the calibre of student presentations, which included a range of sole trader businesses, company structure entities and partnerships.
The students had the opportunity to gain individualised feedback from these panellists, specific to their chosen business idea, with valuable insights provided which the students can now further flesh out as they finalise the written business plan for their chosen enterprises. It was noted that five students from the class are actively planning to develop their business idea, with one already running the business they presented.