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THE HIVE@MANSFIELDPROOF OF CONCEPT PROGRAMME
THE HIVE@MANSFIELD About usThe Hive@Mansfield is part of the successful Hiveat Nottingham Trent University. The Hive helpsand supports both existing businesses with newand exciting ideas, and individuals who want tolaunch a new business.
Our expertise is founded upon University research,and we have a strong reputation for promotinginnovation, creativity and enterprise.
SO YOU NEEDSOME HELP...
“Our objective is to create business winners. This is a uniqueopportunity for businesses in the eligible areas to be truly innovativeand successful.”
Michael Huxley, Project Manager
Are you an entrepreneur or innovator with a great idea?
Do you want to start or develop your own business?
Have you seen a niche and wish to exploit it?
Do you want to turn your business idea into a reality?
Are you already trading and wish to change direction or develop newproducts or services?
Would your business benefit from professional mentoring support?
If the answer is yes, you need to talk to us.
PROOF OF CONCEPTPROGRAMMEFOR BUSINESS IMPROVEMENT ANDBUSINESS START-UPS
Many people with a great business idea lack the experience, resources orconfidence to develop it. It can be difficult to know where to turn forinformation, research data, support, resources and guidance.
At The Hive, we are looking for people who have a good idea and entrepreneurial flair who would benefitfrom access to university resources.
Our free Proof of Concept programme is ideal for both established businesses with a new idea, and newbusiness start-ups. It helps you assess the commercial viability of your idea and turn it into a profitablereality. It is based on proven techniques used by world-class organisations.
We can help you to:• shape and evaluate a business concept;
• evaluate business opportunities, niche marketsand reduce commercial risks;
• direct your passion and enthusiasm intotangible realities, knowledge, skills andconfidence;
• prepare structured business, marketing andfinancial plans;
• reduce the risk of failure;
• achieve success more quickly;
• understand your investment requirements; and
• create an action plan to ensure your businesssuccess.
The programme is a combination of personalmentoring, practical support and confidencebuilding, helping you develop quality businessskills. Around 60% of the participants prove theiridea is viable and start a new business. However,the programme is of great value to your personaldevelopment, irrespective of whether your businessidea takes off.
WE RUN THREEPROGRAMMESPER YEARStarting in January, April andSeptember. We are looking for businesses with good,entrepreneurial ideas who will benefit fromaccess to the resources of Nottingham TrentUniversity, who want to prove the viability oftheir new product, service, process or marketidea and who will help generate new businessand employment in the region.
We are primarily looking for businesses withbrilliant new business ideas based in the districts of Ashfield, Bassetlaw, Bolsover,Chesterfield or Mansfield.
We may have places for candidates from otherlocations – please contact us for more information.
There is no age limit or qualificationsnecessary to join, just a great new idea andthe passion and drive for it to succeed.
WHAT WE OFFER YOU
You will enrol as a student of Nottingham Trent University for the duration ofthe programme where you will have access to unique resources to help youresearch and evaluate your idea.
Through 15 workshop days over a 12 week period,we will help you focus on your strengths and howto find suitable customers. This allows you toundertake the learning and research whilecontinuing to run your business.
If the idea is viable, you will have a plan forcommercial success to justify investment.
Proof of Concept programmes are at the core ofworld class business success. These businessesresearch and plan every idea before spending anydevelopment money on it. This is a uniqueopportunity for you to learn how they succeed andto apply proven techniques. By accessing specialistresources you will gain the confidence to succeed.
This is not just another training course. It is alearn-by-doing workshop programme where theskills acquired will be applicable to your futurecareer and business development.
The Hive Proof of Conceptprogramme gives you the evidenceand confidence needed to makesensible decisions on the commercialviability of your idea and an actionplan of how to succeed.
We also keep you posted on the latest businessnews and information, business support services,trade information, business legal updates,networking opportunities, funding and grantinformation, events, seminars, workshops andbusiness awards. Helping your business stayinformed, up-to-date and to give you a competitiveadvantage.
To find out more, talk to our Project Manager,Michael Huxley.
Contact Michael today on: +44 (0)1623 600829 to see if you qualify.
COURSE DETAILS
The course will run for two days per week for weeks one and two, then one dayper week (normally Thursday) for the rest of the programme, plus one hourmentoring each week (normally Monday or Friday).
WEEKS 1 – 4
Review of the market for thebusiness idea:• Market research techniques
• Project management
• Protection of intellectual property
• Who are your customers?
• Why, where and when would customers buy it?
• How many would customers buy?
• How much would customers pay?
• What features are customers looking for?
• What are the benefits and value to customers?
• Producing your marketing plan
• Branding and negotiation
• Marketing training
• Presentation of market viability to our internalpanel of experts
WEEKS 5 – 8
Review of financial issues:• How much do you need to earn to cover living
expenses?
• How much will your idea cost to deliver?
• Operational costs
• Legal and regulatory issues
• Sources of funding
• Company structures
• Accounting issues (including tax, nationalinsurance and VAT)
• Producing a robust cash-flow forecast
• Profit and loss and balance sheets
• Presentation of the financial viability of the ideato our internal panel of experts, who providewritten feedback
WEEKS 9 – 11
Selling your idea:• Selling and negotiating skills
• Presentation skills
• Selling on the Internet and using social media
• The executive summary
• Producing your business plan
RESOURCES ANDFACILITIESThroughout the programme allparticipants have full access to thefollowing resources and facilities:
• hot-desk room with eight PCs providingbroadband Internet access;
• onsite café and crèche;
• become a Nottingham Trent University (NTU)student and get your own NTU email address;
• Free NTU library access (including online access) – this includes over 200 research databases,over 10,000 trade publications on-line plus thenormal library reference and loan stocks; and
• free use of our phones for research.
In the last week of the programme, you presentyour finished business plan to our external panel ofexperts and together we conduct a review andevaluation of your progress.
Who can benefit from The HiveProof of Concept Programme?We help individuals and small and mediumenterprises (SMEs). Your business must have lessthan 250 employees, a turnover of less than £50mand a balance sheet of under £43m.
All sorts of businesses can benefit from ourprogramme. Typical examples include designers,consultants, difficult to start businesses, web-basedbusinesses and anyone developing new productsand services.
How much? It’s free!There is no cost for the programme for eligiblebusiness ideas if you are based in the followinglocal authority areas: Ashfield DC, Bolsover DC ,Bassetlaw DC, Chesterfield BC or Mansfield DC.
We are looking for potentially viable new businessideas from highly entrepreneurial individuals orteams who could benefit from access to theUniversity’s resources.
The Hive Proof of Concept programme aims to provide you withall the resources you need to turn your enterprising idea into aresounding success.
CONTACT US
WHO TO CONTACTSpeak to the Project Manager, Michael Huxleyon +44 (0)1623 600 829, who will invite you tosee our facilities at Mansfield and discuss youridea in depth.
The Hive@MansfieldMansfield i-CentreHamilton WayOakham Business ParkMansfieldNottinghamshireNG18 5BR
Phone+44 (0)1623 600 829
Webntu.ac.uk/hive-mansfield
Facebookwww.facebook.com/MansfieldHivePoC
Twitter@mansfieldhive
Bloghttp://mansfieldhive.wordpress.com
HOW TO FIND USWHAT NEXT?You can contact us either bytelephone, email or through ourwebsite.
We’ll invite you to come and viewour Innovation Centre and discussin confidence the potential andsuitability of our services andresources to the business idea youhave in mind.
Get in touch, we will be happy toanswer all your questions and queries.
6254/04/13
*6254*
The Hive@MansfieldMansfield i-CentreHamilton WayOakham Business ParkMansfieldNottinghamshireNG18 5BR
Tel: +44 (0) 1623 600 829
www.ntu.ac.uk/hive-mansfield
The Hive@Mansfield is part-funded by the European Regional Development Fund and is supported by Oxford Innovation at the Mansfield i-Centre.
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