The real work has only just begun for the winners of the entrepreneurship competition as the talk is no longer about ideas and business plans, but patents, trademarks and limited companies. The teams are beginning to get to grips with the realities of business as the tasks are divided up between the keen, and not so keen, directors!
HAMPDEN “Cool2O”
Hampden put a huge amount of effort into designing and making a stand alone water dispenser for chilled/filtered water, from which you could fill your half litre recycled plastic mineral water bottle for 50p. Its key strengths were that it was an untapped (!) market, a green venture, had an abundance of sites and provided a revenue source for customers. The boys had wanted to buy a patent with the prize money as the cost of manufacture was prohibitive at £100,000, but unfortunately the idea is not new and so they are now considering what else they could do with the money. If any Old Brightonians have a manufacturing facility and would be interested in the product we would love to hear from you!
RYLE “Tournisafe”
Ryle are in the process of applying for a patent. Watch this space for more news once the application has been lodged.
WILLIAMS “Cachecash”
The Cachecash is a bra pocket that attaches to the strap of a bra. It is a fashion forward product that solves the ever present problem of where to store your cash and cards when on the move. They plan to use a range of fabric choices to suit their target market; 13-30 year old women. Research showed that the product would be used when socialising or exercising, reinforcing the need for it to be both practical and fashionable.
The girls have had positive meetings with Tony Eliot, CEO of Time Out, regarding publicity, and with Arcadia (Top Shop, Debenhams and Evans) for distribution. They are looking at co-branded opportunities such as with Time Out, Smirnoff Ice, festivals, clubs and gyms. Variations of the product already exist and so a competitive price is paramount, therefore the girls are looking to the Far East to manufacture the bra pocket. They are in the process of registering the name as a trademark and forming a limited company before commencing manufacture.