Graduates are to propose a new business idea for a new or an existing company within the fashion and lifestyle industries. The idea should be innovative and be directed at filling a gap in the market place. The idea, relevant market and demographic research, business plan, budget and promotional ideas should be presented in a creative report format.
Originality and innovation are the key elements for this award, but as with any new business idea, this has to be supported by a sound rationale and a viable and realistic financial analysis.
The Judges will be looking at the following: originality of idea, research, relevance to current market trends, SWOT, media plan, business plan, budget, the 6P’s – Product, Price, Promotion, Place, People, Persuasion and a creative presentation format.
N.B: This can be a collaborative project from more than one student.
WINNING STUDENT £750
The New Business Award is judged in two parts. All nominated graduates will have to submit a supporting statement for a pre-event shortlisting process by industry experts.
- Thursday 17th May, 18:00 - Deadline for submission, lecturers are to nominate 2 final year students
- The supporting statement should explain the nominated graduate’s entry from concept to realisation including images and demonstrating that it meets all criteria as detailed above.
- The supporting statement should be no more than 10MB in size and no longer than 10 pages.
- Industry experts will shortlist 10 - 12 candidates
- Thursday 24th May - The names of the shortlisted students will be announced on the GFW website
- Shortlisted graduates MUST bring their FULL entry to Graduate Fashion Week for the Final judging
- SUN - TUE (date TBC) , 10:30 - 13:00 and 14:00 - 16:00 - Judging will take place on the nominated graduate’s university/college stand
- The judges for your award will make themselves known and this will be your opportunity to talk through your idea and possibly answer questions from the judges.
- All nominated students MUST stay on their stand for the entire day to ensure that they are available to meet the judges if requested.
- 5 students will be shortlisted and announced on the GFW website on the evening of the judging
- Wednesday 6th June, at the Best of GFW Show, 15:00 - 5 shortlisted students will be invited and expected to attend when the winner will be announced
- In addition to the cash prize, the winner will receive a ticket to the Graduate Fashion Week Gala Awards Show at 19:30 on Wednesday 6th June
- All the Exhibition Award Winners will have their winning work clearly highlighted on Wednesday 6th June and a mention during the GFW Gala Awards Show in the evening.