Submission:
The New Business Award celebrates exciting, ground-breaking business ideas for a new company within the fashion, fashion tech or lifestyle sectors. The idea should be innovative and a refreshing addition to the marketplace. 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. This can be a collaborative project from more than one student.
Criteria:
An original concept and execution
Demonstration of demand and need for this business
Relevance to current market trends
A creative branding and marketing plan
An ambitious and thorough business plan
A thought-through and considered budget
The 6P’s – Product, Price, Promotion, Place, People, Persuasion and a creative presentation format.
An initial digital submission of no more than 15 x pages for the nomination shortlisting. The nomination can be a maximum of 10mb, illustrating the final project and a supporting statement.
Process:
The New Business award will be judged in two stages. All nominated students will have to submit a supporting statement for scrutiny at the pre-event shortlisting by industry experts.
Part 1:
Monday 20th May 2024, 18:00 hours - Deadline for submission, academic staff are to nominate 2 final year students.
Selection:
An Industry expert will shortlist 12 students from the entries submitted. Thursday 30th May, 2024 - The names of the shortlisted students will be announced.
Part 2: Judging
Awards Judging will be onsite at GFW in central London. Shortlisted students must bring their full entry for the final judging. This can be physical work plus digital elements if required. The judging will be an opportunity to talk through the students work, ideas and answer questions from the judges.
All nominated students must attend the full judging day during GFW and ensure they attend all talks, meetings and judging sessions as well as the end of day Awards Presentation and celebratory networking event. Winners will receive promotion across the GFF networks.