After learning key theoretical elements of entrepreneurship and innovation, Westminster Business School MBA students were entrusted with the task to develop their own business ideas.
Coming all from different industries, we were not short of ideas but the challenge was to come up with a creative business proposal everybody was happy with. The first hurdle was to actually convince your colleagues that your idea is the best. In groups of four, we prepared elevator pitches and tested our ideas on our class mates, tweaked them and started preparing our final presentations for the business dragons.
Finally on Friday 18th of July after busy last minute prepping, we pitched our thoroughly thought through business ideas to dragons and university lecturers.
The first group started with an innovative customisable travel app undercutting current players in the market but still maintaining high profit margins.
The second group presented a new recruitment agency for the hospitality industry solving the skill shortage of trained staff.
The third group came up with a new restaurant idea targeting especially families with kids, discussing community funding as one possible option.
The fourth group presented a new e-commerce platform with individual offers for multicultural Londoners.
Having very successfully run their own businesses, the dragons advised the groups on potential issues they may face during their start-up and shared their lessons learned with the MBA cohort.
One dragon remarked: “Some great group presentations” and Spinder Dhaliwal, the entrepreneurship lecturer at Westminster Business School, was very pleased with her students’ work: “The MBA presentations were engaging, energetic and really filled a gap in the market. The students worked well in their groups to give an entertaining business pitch.”
The MBA Innovation & Entrepreneurship module enables students to understand theories of entrepreneurial behaviour, innovation and wider societal issues. The aim of the module is to develop student’s entrepreneurial attributes and support them with their own business ideas. For more information please click here.