Week 7…Auction Night at EBD!

The penultimate week of Enterprise by Design is upon us, and boy has the time flown by! It seems like yesterday when our teams were completing small challenges, learning about tourism in North Wales, and presenting their first attempts at Pechka Kucha presentations!

Now, we are just a week away from the final challenge and the £5,000 in prizes. Tuesday night was a bit different from the weeks before, as it was…

Going once, going twice, sold! to the Advice and Resource Auction night for our teams! 

 

A night bidding at the auction…

Gone are the weekly challenges and brainstorm sessions for our teams at Enterprise by Design. This week, teams are bidding on some vital resources for the presentations next week, and booking consultancy sessions from the experts before they’re on their own.

Throughout the 7 weeks so far, teams have been accruing points for different things along the way, from weekly participation from all team members, to completing the homework tasks. With those points, teams were able to bid on things that could aid in their presentations, like TV stands, projectors, or printed posters.

It was also a chance for the teams to bid on consultancy slots with the experts who had been helping them along the way every week. The students bought time slots with the academics from different departments; Steffan from Creative Studies and Media, Iestyn from Computer Science and Electronic Engineering, Siwan from Business, and Gareth from the School of Psychology; and, they could buy time with tourism, tech, and business experts including the representatives from Rib Ride and Zip World.

Each expert has the knowledge and expertise that could tell the teams how to improve their ideas. The academics and experts provided their honest opinions on the plans the teams had come up with. Depending on what kind of advice the teams needed to prioritise, such as how to create a memorable and persuasive argument in the presentation (Gareth), how to make their concept commercially viable (Siwan), or how to determine the technical feasibility (Iestyn) of their concept, the teams would go to specific experts first.

After a hearty meal of lasagna and carrot cake, students spent the rest of their evenings in talks with the experts, hopefully getting the feedback and guidance they need to really make an impact with their presentations next week.

Final Advice from the experts

The experts gave their final advice to the teams, most importantly to keep things simple. The teams only have a week left to solidify their ideas and present concise, engaging presentations that will wow the judges and get their ideas across clearly. Students were also encouraged to think about the reasons why they themselves would enjoy the product they are developing, and really think hard about why what they’re offering is a unique asset to the wellness and adventure tourism industry in North Wales.

One of the biggest challenges the teams faced during their meetings with the experts was really figuring out just how much their idea would cost the companies, and how much profit they were estimating the companies would make in return. Though many of the ideas students came up with were fun and engaging, many of them could end up costing the companies more than they would make. The experts reminded the students that their concept may not cater to every demographic and every tourist, but thats okay… the winning group will hopefully get to develop their ideas further with Rib Ride and Zip World!

 

Homework for next week:

There is none! Next week is the finale week and the winning team will be announced Tuesday, 20th March, 2018! Check back with us next week for our final short blog unveiling the 1st-3rd place teams and their winning concepts.

Leave a Reply

Your email address will not be published. Required fields are marked *