Dilemma: Ascent of risk

TechStart is a European business association that promotes emerging technology and new business ventures. TechStart today offers future entrepreneurs a comprehensive one-year programme of assistance, advice and training in order to turn creative new ideas into fully operational business ventures. 

Every year TechStart organises a competition where graduates can submit their proposals for new business ventures. The winning project team receives a cash prize of €50,000 and joins the oneyear StartUp Programme. 

During this year the new business is offered free office space, access to research facilities, business management training and support from one of the universities participating in the programme. This year, these four projects have reached the final. Each project team is to make a short presentation to the competition jury.

1  ZephGen: Wind-powered electricity scheme.

Wind power is one of the world’s untapped power sources. Our modular platforms are designed to be used offshore in locations where natural wind sources are abundant. Using improved technology, they can provide an invaluable alternative energy source and an investment opportunity for both private and public investors.

2  Rainbow Systems: Heat-sensitive packaging materials.

We have developed special thermal additives that change colour when exposed to extreme temperatures and ultraviolet rays. Potential applications include packaging materials that will automatically reveal exposure to heat or UV rays.

3  Open Tour: Mobile phone tourist guide service.

Open Tour will allow customers all over the world to receive audio guided tours for all the principal tourist destinations via their mobile phones. An easily accessible and affordable alternative to carrying guidebooks.

4  VoxData: Mood recognition software for customer services.

Our revolutionary voice recognition software makes it possible to monitor the dynamics of customer calls. Detecting variations in voice patterns that reveal emotional intensity, VoxData can be used to monitor call centre operations and to provide detailed statistics to help managers improve performance.

TASK 1

Work in small groups. Choose one of the projects and make notes about the following:

1 an outline of what your project is

2 the main features of your product

3 who will benefit from your product and how

4 how you would use the prize should you win it

TASK 2

Organise your ideas into a short presentation. Practise giving the presentation and make any necessary changes to improve it.

TASK 3

Present your project to the class.