Enterprising staff and students from the University of Bristol gathered to see pharmaceutical pioneer, Mr Bhikhu Patel, officially launch the University’s New Enterprise Competition 2009.
The annual competition, open to students, staff and recent graduates of the University, is designed to inspire new high-growth business ideas and entrepreneurial talent. The competition’s prize fund of around £35,000 includes cash, free professional advice and six months managed office space in the Bristol SETsquared Business Acceleration Centre.
Entrants to the competition have to submit their business plans to the University by 24 February 2009. The best entries, judged by a panel of experts from the sponsoring organisations, will then be invited to submit full business plans. The winners, to be announced at the Enterprise Dinner in the summer of 2009, will be awarded cash prizes and support to help bring their ideas to the marketplace.
An alumnus of the University (BA 1975), Mr Patel is Director and co-founder of international pharmaceutical company, Waymade Healthcare plc, which he set up with his pharmacist brother in 1984. The company has an impressive record of growth, building a portfolio of its own products, both in the UK and more recently internationally. In 2001, Bhikhu was named jointly with his brother as a United Kingdom Ernst & Young Entrepreneur of the Year.
Addressing the audience at the launch, Mr Patel, said: “I am proud to be here today, to officially launch the New Enterprise Competition 2009. It is exciting to see the University, at which I once studied, is encouraging opportunities in enterprise through competitions such as this.
“If you have a business idea, no matter how big or small, I would encourage you to take part in the competition. You might, one day, see that idea become a significant business opportunity.”
During the competition launch, Mr Patel’s name was also added to the University’s Enterprise Roll of Honour, which aims to recognise Bristol University graduates who have gone onto to establish world-class businesses. Mr Patel joins other Bristol alumni including Mark Ellingham (BA 1980, MA 2000), co-founder of the Rough Guides brand, Nick Wheeler (BSc 1987), founder of Charles Tyrwhitt Shirts and Sahar Hashemi (LLB 1998), co-founder of the Coffee Republic.
Professor Guy Orpen, Dean of Science and Professor of Structural Chemistry at the University, said: “The University has an excellent track record of graduates setting up inspiring and successful international businesses. We are delighted to be inducting Bhikhu into our Roll of Honour and have no doubt that his entry will be a source of inspiration for our students, the business leaders of tomorrow.”
Dr Neil Bradshaw, Director of Enterprise at the University, added: “The University is committed to encouraging enterprise amongst its students and the increasing volume of entries to the New Enterprise Competition each year is testament to this. The standard of business plans submitted is exceptionally high and demonstrates how entrepreneurial Bristol students really are.”
The 2009 New Enterprise Competition is sponsored by Bristol City Council, Bristol SETsquared Business Acceleration Centre, Business Link, Deloitte, EADS, Edwards, Ginko Investments, IP Group, North Bristol NHS Trust, Osborne Clarke, Santander, University Hospitals Bristol NHS Foundation Trust and the Wyvern Seed Fund.
The New Enterprise Competition launch event was held on Thursday 13 November in Senate House, University of Bristol.