SIE Competitions close this THURSDAY (29th Jan)

Scottish Institute for Enterprise
It’s competition time at SIE! Two fantastic business competitions close this Thursday and LAUNCH.ed wants to make sure you don’t miss your opportunity. Many University of Edinburgh students have previously won SIE competitions and made it to the annual SIE Student Enterprise Summit in March.

Could you be the next winner?

If you need help with your SIE application, be quick & don’t wait – just get in touch with us asap. We want you to succeed!

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Let’s talk about Bootstrapping

What is Bootstrapping?

Big, airy offices, a phalanx of sales experts, a huge marketing budget and goodies for your customers. Well, that certainly doesn’t sound like the typical setup for a fresh start-up. If you don’t have access to a lot of funding and want to setup a business, we should start talking about bootstrapping.
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You will start a business in 2015!

2015

You want to start a business but don’t know how? Well, then 2015 is the year to make your dream become reality.

Many of your fellow students have already found out that starting a business doesn’t have to be a pain – if you have the right support!

Whether you’re struggling with:

  • business skills,
  • product development,
  • marketing and accounting,
  • getting the right funding,

or simply want to meet like-minded people and talk about entrepreneurship: The University of Edinburgh and LAUNCH.ed are here to help all student startups and student entrepreneurs – for FREE.

Our mission is to answer all your questions about starting a business. So stop worrying about getting started, get in touch with us! We know how we can help.

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How Crowdfunding Kickstarted LogicBots

Incandescent Games is a small PC company based in Edinburgh which was set up by University of Edinburgh graduate Kenneth Ward. In October 2012, Kenneth started working on a computer game called LogicBots. LogicBots is essentially a puzzle game, but it comes with a twist. You design your own robot and try to make it solve logic puzzles for you. How that works? Read more about LogicBots and see how Kenneth reached out to the games community to crowdfund his independent game.  

What is Kickstarter?

LogicBots Logo Kickstarter is a crowdfunding platform which has been running since 2009. In that time 7.5 million people have pledged $1 billion, funding 74,000 creative projects. It is a website where people can pitch their ideas for a product and have members of the public pledge money to support your project while getting rewards for their pledges such as a copy of the finished product.

Kickstarter has certain rules for the projects that can be created. Firstly you must set a goal your project needs to be completed. This should be the amount of money you need to complete the project. It is an “all-or-nothing” model, you then get 30 days to raise the funds and if you don’t reach the target funding you get nothing and all the backers keep their pledges. This is put in place to encourage backers to pledge money as they know if the goal isn’t reached they lose nothing. It also prevents projects being funded which don’t have enough money to be completed.

Another important rule is that you are not allowed to give equity away as a reward for backers or any “cashback” incentives. Backers have to be supporting your project because they like the product not because they want to make an investment. All your pledge awards have to be a product, whether this is something simple for small rewards such as their name in the credits, the product you are trying to produce, or a limited edition version of your product.

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Business Competitions and Updates – December / January Edition

LAUNCH.ed Light Bulb

No matter if you’re planning to start your own social enterprise or want to pitch your idea and win some prize money: For up and coming entrepreneurs December and January have some interesting opportunities on the plate. This time we want to recommend really interesting opportunities from Santander UK, SIE, EIELaunchMe as well upcoming scholarships at the University of Edinburgh.

We’ve put together some of the most interesting business competitions, funding opportunities and scholarships for December 2014 and January 2015. Just grab the chance, apply and win some money that you can put into your company straight away. Last but not least, we’ve added some interesting reads for the festive season…
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