Student engineers show savvy

Engineering students competing in this year’s

Entrepreneurs’ Challenge have benefited from the business savvy of seven

(SMF).

The challenge, an annual event held in the last two weeks of March, is designed to offer engineering students the chance to acquire hands-on experience in developing a business concept. It also has an annual prize fund of £55,000, one of the largest such funds for a single UK university competition.

SMFs are exceptional engineering students who, under a scheme administered by the Royal Academy of Engineering, are offered the opportunity to study for an MBA at one of the world’s top business schools. Lord Sainsbury launched the scheme in 1987 to help change UK business culture.

The SMFs were called upon as mentors by over half of the 45 teams which entered, offering a mixture of real-life business advice focussing on how to market the products, highlighting key financial and operating risks, together with guidance on building an advisory board and attracting venture capital funding.