Recently, Innovate Product Design was pleased to return to Bournemouth and Poole College for the third year where their FDA Foundation Degree Business and Management students were set the task of delivering a product presentation to pitch to potential investors à la Dragons’ Den.
The students pitched a variety of products to Jay Short, one of Innovate’s Client Managers with consideration taken as to potential market size, component cost and suitable routes to market. The presentations covered a diverse range of concepts, ranging from emergency medical vests, to retail receipt solutions and adaptations to vacuum cleaners.
The variety of innovations presented showed that entrepreneurship is alive and kicking in the UK and the creative thinking shown by the teams impressed Jay: “The teams almost without exception showed that having chosen an industry sector or subject that was close to their hearts, had researched their market in a sensible and constructive manner. For those who had real enthusiasm for their ideas, this was certainly apparent in their presentations and really did make a difference when trying to convince the panel of the viability of their idea.”
Innovate’s experience in helping individuals to take their products to market put them in an ideal position to be able to assess the quality of their presentations and also to post the sorts of questions that they may be asked were the students ever to present to a real panel of potential investors.
The students coped admirably under pressure and Jay was so impressed by one of the presentations that he has recommended that the team speak to Innovate to look at further developing their idea. In terms of general advice to offer the students Jay had this to say: “When presenting an idea to potential investors, passion for the idea is so important. If it doesn’t seem like you believe in the product, then why should they?! Show that you have done your research and demonstrate that your product will have real benefits for their market segment and you will have laid the foundations for a successful pitch.”
Innovate would like to offer their thanks to Mike Plummer and the students of Bournemouth and Poole College (www.bpc.ac.uk) for their warm welcome and variety of fascinating presentations.
Innovate (www.innovate-design.co.uk) is always keen to hear from inventors of all ages. With over 10 years of expertise in helping inventors take their ideas to market, Innovate are uniquely positioned and are always happy to offer their thoughts and expertise on a new idea.
