The YES competition is run over three days. In the morning of the first two days participants, in teams of three, four or five members, attend presentations from leading figures in industry on all aspects of knowledge exchange and the commercialisation of ideas.
Topics covered include:
- the requirements of a business plan;
- intellectual property and patenting strategy;
- raising and managing finance;
- commercial and marketing strategies;
- regulatory affairs; and
- company case histories.
This knowledge, and any gained prior to the YES workshop, provides a basis for participants to prepare an oral business plan for a company based on a hypothetical but plausible idea, based on real markets and financial data.
The plan is prepared by the team, in the afternoon of the first two days, with each member assuming a different role within the company (e.g. Managing, Finance, Research and Development, Marketing or Operations Director).
On the last day the participants make a formal oral presentation of their business plan before a panel comprised of business, financial and academic representatives taking the role of equity investors.
Two teams from each YES workshop are selected to progress through to the Final hosted at the Royal Society in London.