Over 192 students across ten universities competed in the Student SimChallenge which allows young entrepreneurs to present and test their business skills and ideas by running their own virtual business.
The team of ABS undergraduates, Adrian Walerowski, Jack Gibbons and Matthew Lukanoff (team NRG) were crowned overall winners by generating a profit of £27million and revenue of £102million. They have won a £500 prize along with an all-expenses paid trip to Barcelona, where they will have the chance to network and work with entrepreneurs.
Each team in the two week competition was responsible for handling the budget, forming a business strategy and taking decisions regarding factors such as their niche market, products and international expansion.
Adrian, ABS student and Student SimChallenge winner, said: “There were two things that I thought most valuable about the Student SimChallenge. One was learning about your position in a team, personal strengths and weaknesses and assessing other team members. The other was that business theories, knowledge and instinct could be applied against real competition who were actively trying to win your share of the market. This teaches you to think and implement knowledge outside of a bubble - just like real businesses have to in order to thrive.”
Adrian, Matthew and Jack hope to start their own businesses once graduating, with Jack having started a student’s cooking course business since his time at university.
NRG hope to build on their success and are preparing to apply for the Deloitte ‘start a business with a £1’ challenge in February.
For further media information, please contact Naheeda Akhtar, University Communications on 0121 204 5004 or firstname.lastname@example.org