Budding young entrepreneurs selected to go on to the next stage of the Young Start-up Talent (YST) initiative arrived at Jury’s Inn Croydon for a two hour workshop on the 7th of April. The project is designed for 16-25 year olds hoping to start-up their own business with the winner walking away with a £50k prize fund worth of business products and services to help in their first year of business.
The workshop was in preparation for the exciting journey ahead, a process that will involve 1-2-1’s with leading business professionals, business planning and polished pitches to a panel of judges for the chosen finalists.
Applicants were asked to provide an elevator pitch for the group workshop – a short one minute pitch to best describe their business and what it does. Managing Director, Lorraine Nugent encouraged the group to evaluate various aspects of their business such as creating and discussions around a SWOT analysis, target audiences, research, marketing, legal and finances among an array of other business features. Lorraine said “This is a very important stage of the process where the participants can share their concepts and learn from one another.”
The group shared the early stages of their business ideas and the evening saw the young business minds team together to support and develop ones another’s ideas in the interactive workshop. Ideas ranged from hair salons to animation straight through to kitchen apps among other diverse concepts.
In the next phase, on the 28th of April at Jury’s Inn, the youngsters will be facing 1-2-1’s with leading business professionals from across Croydon, where the young entrepreneurs can expect their business ideas to be examined and scrutinised. Although one entrant seems more than ready as she commented “This workshop has really prepared me for the next stage, I’m eager to go home and work on my business now!” This year’s winner will be revealed at a grand showcase event, held at Fairfield Halls on the 7th of July.
For more information on the project please visit: www.youngstartuptalent.co.uk