Congratulations to our Â£100 winners!
i-Teams have scooped three prizes in this yearâ€™s Cambridge University Entrepreneurs Â£100 for 100 words competition. Many congratulations to all the winners!!!!!
Silicon Valley entrepreneurs Sam Chaudhary (ClassDojo), Andrew Thompson (Proteus Digital) and Stanley Yang (Neurosky) handed over the winning prizes as part of this yearâ€™s Silicon Valley comes to Cambridge.
The winning i-Teams entries were:
Damon Civin - Biophotovoltaic cells to produce low-powered consumer products, such as Christmas trees powering their own fairy-lights. i-Teams Michaelmas 2013
Cheryl Brighton - Bio-photovoltiacs system developed by University of Cambridge academics harnesses the energy produced by plants using a conductive soil. i-Teams Michaelmas 2013
Enass Abo-Hamed - a novel â€œsponge-likeâ€ material that catalytically produces and stores hydrogen gas at room temperature, and on heating releases the hydrogen in a safe and on-demand manner. i-Teams Easter 2013 and i-Teams Plus Michaelmas 2013
Insights for Entrepreneurs
Our guest entrepreneur speaker this term was venture investor Kelsey Lynn from Imperial Innovations. Originally an Engineer from Stanford with passion for working with people and building things, she has pursued a successful career as a venture capital investor, firstly at Firelake Capital in Silicon Valley, and more recently at Imperial Innovations in London. In California, Kelsey focussed on funding early-stage startups in material science and clean energy technologies, including EOS Climate (carbon emission mitigation) and EnerG2 (automotive energy storage). Since moving to London in 2012 and joining Imperial Innovations, Kelsey has led investments in Econic Technologies (Imperial spin-out in chemical catalysts) and Aqdot (Cambridge spin-out in polymer microencapsulation).
Here are her 5 top lessons for entrepreneurs:
1. Create a product that customers ACTUALLY want (not should want)
2. How and who you engage with at a corporation matters (understand their incentives and motivations and who makes what decisions)
3. Think about your financing strategy from the beginning â€“ this is critical and often underestimated, resulting in teams that spend all their time fundraising. An experienced launch chairman / angel / lead investor can help with this.
4. Business is about people - listen and understand their interests and motivations. Business is about creating situations / opportunities / deals in which people want to work with you. You can present yourself and your business differently, emphasizing different aspects, depending on the audience.
5. The power of mindset: Life is one big experiment, and if you view each experience as a mini-experiment, there is so much to learn! Negative and disheartening moments become valuable lessons (the more you fail, the more you learn!) and thereâ€™s a reason to try a variety of different approaches to learn, recalibrate and excel.
Help our teams!
Two of this term's i-Teams have set up online market surveys for their products. Please help them by filling in the surveys (which are each only 10 questions long).
The first survey is for the "Making sweating cool" team and can be found here.
The second survey is for the Video Analysis team and can be found here.