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By Phil Mansell, Marketing Services, University of Wales, Newport

Stunning business concepts that have wings and could fly' was how one marketing expert described ideas being presented by MBA students at the University of Wales, Newport who are battling it out to win a £1,000 prize in a competition to encourage entrepreneurship and enterprise.

The students, who have come to study at Newport from all over the world, were set the challenge by the University's Research and Enterprise Department after Terry Matthews, of the Celtic Manor Resort, suggested the idea of a competition to inspire and encourage student entrepreneurs.

"This competition is designed to encourage our students to work in teams and explore ideas for a successful start-up business," explained Emma Williams, of the RED team.

"Thinking like an entrepreneur encourages them to take risks and be innovative, and they've come up with some very creative ideas - ranging from events management and online businesses to Asian lunchbox cuisine and a restaurant revamping service. We invited several local business people to come in to discuss the ideas with the students and help them develop their money-spinning plans.

"We're now in the process of judging who will win this event which has been so successful in attracting student entrepreneurs we're now looking for businesses to sponsor similar challenges and help fund the entrepreneurs of tomorrow."

Marketing expert George Savva, of 7 Seconds Ltd, said: "I've seen some stunning ideas here. One of them, involving mobile phones for students coming to study in the UK, is a great concept that has wings and could fly.

"All the young people here, wherever they're from in the world, have the same aspirations as youngsters from the UK. As MD of a company that creates marketing strategies for companies, I find it useful to have a handle on what business students are thinking and how they approach business.

"It's interesting to see that academics are now becoming more involved in the business community. It's one reason why Newport Business School is delivering such cutting edge courses. They are talking and liaising with people who are actually out there doing the business."

Catrin Williams, of Newport & Gwent Enterprise said: "There are so many people today who want to start their own business, and I've spoken to students here who have some great ideas.

"I used the example of a money-spinning idea I've worked on for the Women's Institute. They were making decorative fabric chickens purely for fun - I told them they were highly saleable so now the WI is making them for profit. It helped the students understand that anyone can have a good business idea. It doesn't have to be high-powered - you can turn a hobby into a business."

Among the ideas put forward by the students was a plan for fast food with a difference.

Shubham Siddha wanted to cash in on the growing popularity of Asian food by creating a company that could cook and deliver lunchboxes featuring a range of exotic menus.

"It's an idea I've seen in Delhi when I was a student there," said 21-year-old Shubham. "Basically, it means students who are a long way from home can have their favourite food delivered to their door. I haven't seen this service available in the UK so it could well be a winner."

Events management with a difference was the concept behind the business idea devised by Ilze Krievina, 22, from Latvia, and Chiemenam Unegbu, 33, from Nigeria.

"Our company would organise team-building events in an informal setting and provide services for the disabled and the homeless as a way of contributing to the community," said 33-year-old Chiemenam.

All of the students were keen to stress how much they are enjoying the experience of learning at Newport's University - which recently came top in Wales for overall international student satisfaction in the International Student Barometer a survey measuring the learning, living and support of students from overseas.

"Studying here is so different from studying in Nigeria," said Chiemenam "Back home we don't have the enterprise facilities, there's no-one to advice entrepreneurs. Here, we have to analyse and research and come up with our own ideas. The tutors are very good and the course is practical, helping us to maintain a balance between study and working part-time."

The enterprise event was the latest in a series events run by the RED team.

A few months ago, more than 250 business and marketing students from Newport Business School competed successfully in the national Make Your Mark campaign which was designed to foster teamwork, kick-start imaginations and unleash creativity for developing money-spinning concepts for an eco-friendly company. The winning team created a company called Run-It, which focused on harnessing the energy from people working out in gyms. They are now preparing to go into the national finals and are working on a prototype for their product.

11:51am Tuesday 22nd April 2008

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