A team of students from Strathclyde Business School got through to the finals of The Grad Factor, the UK's first and only Government-backed national televised student enterprise awards competition, sponsored by Barclays.
Team Revive comprises Rachael Reid, Rebecca Richardson, Fergus Moore, Scott Kennedy and Christie Murphy. Student teams first had to enter via a video pitch, and the SBS students’ video got them through to the second round of auditions in Manchester. Despite the setback of a cancelled train, the team were able to do a Skype interview with the judges which managed to impress, and meant they were selected as one of the 15 semi-finalists from all over the UK. While Christie wasn’t able to attend as she is currently on exchange in Spain, Rachael, Rebecca, Fergus and Scott all travelled to London to take part on November 27.
Rachael said, "The semi-finals involved several rounds. The first was a speed networking event which acted as an ice breaker for all the teams. The second round saw all businesses being asked to create a five minute pitch, answering eight questions on our customers, market need and finance. The third and final event involved all four of us taking part in a panel interview where we had to answer 10 questions about the business with a timescale of 20 seconds for each. The final decision was then based on all three rounds.
"Towards the end of the day, the finalists were announced and Revive were the final business to be called. We were overwhelmed to hear our name as we have worked so hard at juggling a business we believe in and pushing ourselves to get good grades. Making the final five has truly boosted our confidence and fills us with pride to know that others believe in us."
As well as Team Revive from Strathclyde, there were teams from Cambridge, Cass, Manchester and London business schools. The five chosen Grand Finalists who took part in The Grad Factor Grand Final at The Escalator in London on December 11 were: Sinclair Fire – University of Cambridge; Unius – Cass Business School; Team First – University of Manchester; Slang – University of Nottingham; Revive – University of Strathclyde.
Each of the five finalists had five minutes to pitch their concept to an esteemed panel of industry experts with the aim of winning £10,000 cash to help further their business. The pitches were made in front of an audience of young entrepreneurs, the national media, government representatives & potential investors – all filmed and ultimately broadcast on the national student TV network and student radio. Within the pitch, the Strathclyde students had to explain why Revive had 'the Grad Factor'. Finalists had their business showcased on a big screen and took questions from a panel of experienced judges.
Unfortunately Revive did not win this year's Grad Factor Final but Rachael said, "We had a great day competing in the final of Grad Factor hosted at The London Escalator. There were some great pitches and ideas presented from all the student businesses involved. We may not have won but we're all even more excited for the future of Revive - the Grad Factor has given us the confidence boost that we needed."
Rachael added, "The overall winner was a business called Sinclair Fire developed by two Cambridge University Students. The award was well deserved, and Revive were proud to be competing against so many innovative ideas of the future.
"We received great feedback from our judges and had several members of the audience approach us with congratulations and comments. However we are not coming away empty handed as several of the judges have reached out to us and are eager to help Revive in its future.
"The whole experience has been truly invaluable to us; the competition has given us the opportunity to share Revive with others as well as providing us with great support and networks for the future. For that we are grateful to the Grad Factor. It’s onwards and upwards for Revive now!"