What happens at the workshop
The workshop starts on the Wednesday morning with presentations by leading figures in industry introducing the most important topics to be considered when starting up a company. Thursday morning comprises company case histories.
After lunch on the Wednesday and Thursday each team goes to their allocated workspace to discuss the preparation of their own business plan based on their hypothetical company.
Mentors will be at hand to answer questions, give advice and provide a focus for the team’s ideas.
Mentors will be at hand to answer questions, give advice and provide a focus for the team’s ideas. Teams are encouraged to seek advice from the mentors on both general strategy as well as specific aspects of their plan. Teams should recognise that mentors can only offer advice – there are no definitive answers and part of the team’s remit is to decide on the best strategy for their company. The team will also need to consider carefully how best to organise their time with the mentors to get the most value from their input. Each mentor will visit each of the teams for approximately 30 minutes.
The mentors are always extremely generous with their time (which they kindly donate to YES) and will often discuss business plans over dinner!
Oral business plan presentations before a panel of equity investors will take place on the Friday. Each team is allotted 25 minutes; 15 minutes for the presentation and 10 minutes for questions. Each team member must contribute to the oral presentation.
The criteria against which team business plans will be judged:-
- overall structure and presentation;
- plausibility of the research and development and IP strategy;
- feasibility of the commercial and marketing strategy;
- feasibility of the financial planning strategy; and
- feasibility of the management and personnel strategy.
Following the workshop, each team member will receive a certificate and an invitation to join our LinkedIn group to stay connected with YES alumni. Written feedback will be provided, ten working days after the workshop, to each team.