Students studying the Business Ideas and Opportunities module taught at Aberdeen Business School were tasked with coming up with an innovative business idea, testing it in the marketplace and producing an initial prototype to demonstrate at their trade stand.
The annual event is a celebration of student entrepreneurial talent and creativity, and is widely regarded as a flagship event in the undergraduate calendar at ABS. This year the fair has been sponsored by professional services firm Deloitte who were there on the day to present students with prizes, as well as give advice and feedback on their projects.
Working in small teams, students develop practical idea generation skills and explore and assess their chosen business opportunity - performing the necessary background research in order to implement the idea generated. Following idea development, students are asked to produce a prototype and promote the business opportunity to potential stakeholders.
This year, the top prize for the best idea went to WAVERSE, a company which looked to address the problem of plastic waste through introducing biodegradable toiletry products for travellers. Awards were also presented in recognition of the best Presentation and the best team on the day.
Dr Simon Fraser, Senior Lecturer in Entrepreneurship at RGU’s Aberdeen Business School, said: “Entrepreneurship is a central theme in our teaching at Aberdeen Business School and through modules like this one, we hope to equip the students with creative idea generation skills and the confidence to consider business start-up as a viable career option.
“We have designed the fair in response to employers suggesting a need for sales training and many of our students cite their participation in the annual Trade Fair as one of the highlights of their undergraduate experience.
“Industry collaboration is at the heart of what we do at ABS as we have long-standing relationships with organisations such as Deloitte to ensure we are preparing our graduates for the future and equipping them with the relevant and current skills needed to progress in their careers.”
Sarah McGavin, Director at Deloitte, said: “We were delighted to support RGU at this year’s Trade Fair. At Deloitte we believe creativity is a powerhouse for innovation, and now is the time to tap into it, so it was great to see many young adults with drive and ambition coming up with so many great ideas.
"Whilst the future looks bright, creativity is, and will continue to be, an essential factor for advantage in the shifting, volatile and fast moving global landscape. Our economy needs new ideas to survive, but we don’t have enough of them so I believe the ability to have and execute ideas is incredibly important for the future generation”.