Tag Archives: Entrepreneurship

Personalised, Digitally-enhanced Student Experiences at Imperial College Business School

Joёl McConnell, Executive Director of Marketing, Recruitment and Admissions at Imperial College Business School explains how they are enhancing student learning
Joёl McConnell, Executive Director, Imperial College Business School

Engineers in Business Fellowship has been awarding Sainsbury Management Fellows MBA scholarships to talented engineers with leadership potential for more than 35 years.  Our awardees attend the top international business schools in the world where they acquire a first-class business education.  Fourteen business schools are partners of the Sainsbury Management Fellows (SMF) scholarship scheme and we are delighted to be starting a series of articles contributed by these schools.  We are commencing with Imperial College Business School in London, the most recent to join the SMF scheme.  Joel McConnell, Executive Director at Imperial explains how the school is using digital technology to enhance student experiences.

What an unusual year it has been for students, staff and faculty at Imperial College Business School! Resilience has been key, but Imperial College Business School has made important investments under the broader context of COVID-19 that will benefit MBA students for years to come, and particularly in the area of digitally-enhanced student experiences that align with the broader benefit of studying at the business school of leading STEM-focused university, based here, in London.

Imperial College Business School aims to be at the forefront of personalised, digitally-enhanced student experiences
Today Imperial College Business School is firmly focused on the broader disruption happening in the graduate management education (GME) landscape and the various sectors where our graduates go on to work after they complete their degree with us.  We know that recruiters are demanding new and different leadership skills, which has only been accelerated by a change in processes and how people and organisations interact – especially under the extreme circumstances of a global pandemic.  Finally, we aim to amplify the student transformation and leadership journey as well as capitalise on digital innovations led by the Marketing, Recruitment and Admissions teams, our Careers and Student Life teams, and our award-winning Educational Technology (EdTech) teams as well.

Imperial College: An End-to-End Candidate Experience from Day One
The Marketing, Recruitment and Admissions (MRA) teams at Imperial College Business School provide an integrated candidate experience, from the moment a potential applicant registers their interest with the school, right through to when they step into our classrooms. Once a candidate has decided they want to study on one of the school’s programmes, they will have a highly interactive experience as they work to complete their application, the admissions process, and then enrol with us as well.  Under the pandemic, the MRA teams have made big investments in marketing automation platforms and CRM systems, with leading technology partners, that allow the teams to provide more personalised support, and we’re actively piloting new tools that will allow these teams to have the most effective technology stack in place so that candidates can complete their onboarding process as seamlessly as possible. 

A Full Support Package to Complement MBA Programme Delivery
For those candidates who obtain an offer to study the MBA programme at Imperial College Business School, joining the programme is just the first step.  This past year our Careers and Student Life teams have focused increasingly on integrating Digital and smart tools, virtual experiences, and technology that directly supports candidates as they prepare to return to the workplace upon graduation. We now make LinkedIn Learning available to all MBA students, so our students can top up their programme content with additional training in more technological skills such as C++ or Python for example.  Another great example is how we work with a company that leverages AI and Machine Learning to help candidates evaluate how their career profile matches their target job characteristics, and understand the strengths and weaknesses of their profile, and then we complement this tool with 1-1 appointments with dedicated career consultants to ensure our MBA students develop an action plan to reinforcing their profile and better meet their expected career outcomes.

EdTech and Learning Analytics for Optimal Student Outcomes and Programme Delivery
Imperial College Business School is working to better understand how MBA students are learning, and how the institution can make continued, neuroscience-based investments in the most impactful EdTech possible, which will help the programme delivery teams deliver optimal outcomes for our students. Under COVID-19, our EdTech teams have led key investment programmes that have seen our lecture theatres become more interactive, in a way that has allowed for the delivery of the MBA programme in multi-modal format – something that has been crucial to manage the uncertain environment this past year, but that will also allow for a more dynamic student experience in the future, that allows students to pursue multiple interests at once.  Finally, the EdTech Lab at Imperial College Business School works closely with our parent university infrastructure dedicated to instructional design and delivery, and other areas of the college such as the Department of Mathematics on a pilot project related to unsupervised machine learning to learning data.  Imperial College takes a research-based approach to EdTech, and MBA students benefit directly from this.

The Sainsbury Management Fellows Opportunity
Imperial College Business School is one of the newest partners to the Sainsbury Management Fellows programme, which is managed by the Engineers in Business Fellowship (EIBF).  As the business school of Imperial College London – a leading STEM university in the UK and top-ranked internationally as well, we actively welcome engineering graduates who wish to complement their previous studies and professional experience with an MBA from Imperial.  The fellowship is a unique opportunity as graduates not only become part of a national network aimed at connecting top engineers in the United Kingdom – which includes career and entrepreneur mentoring, but by completing the MBA degree at Imperial College Business School, you also become part of the business school’s alumni network of some 19,500 professionals, but also of the broader university that has 200,000 graduates located in some 190 countries. So, if you think you might qualify for a Sainsbury Management Fellowship, don’t wait, and apply for one of the fellowships, and the MBA degree at Imperial College Business School. 

Joël McConnell leads the Programme Marketing, Student Recruitment, Admissions as well as CRM, Data, and Insights teams at Imperial College Business School.  A graduate of the MBA and several other postgraduate degrees and certifications from leading business schools such as Saïd Business School (University of Oxford), IE Business School, IMD, and the Booth School of Business (University of Chicago), today Joël is also actively engaged in cross-college initiatives related to technology programmes and equality, diversity, and inclusion (EDI).  He has also been an active participant and leader in IEEE events and activities across Europe as well.

The SMF MBA Scholarship
If you are a professional engineer considering an MBA as a stepping-stone towards a business leadership career, visit our MBA scholarship application page, you could be awarded a £50,000 scholarship. 

An Engineer with a Head for Finance: How an MBA Paved the Way for a Billion-Dollar Dealmaker – SMF Simon Duncan, CFO & Entrepreneur


As an A level student, Simon Duncan wasn’t sure what he wanted to do for a career.  His mother would ask him what he wanted to do, and he would reply with vague ambitions of becoming a pilot or a nuclear scientist, never quite settling on anything permanently.

With his three A levels in maths, physics and chemistry almost complete, Simon decided to visit the careers room in his school for inspiration.  It was 1979, and the careers room consisted of little more than a shoebox containing cards with different job titles written on each.  There were holes in the box, and students would write each of their subjects onto a piece of paper and attach it to a knitting needle and push them through a hole and then pull them out  to reveal career suggestions!  A single card was pierced by all of Simon’s needles and it said Chemical Engineer.  

At the time, Simon didn’t know what a Chemical Engineer was, but, given that he was interested in chemistry, he thought it sounded like a good idea – and, believe it or not, that’s how his career started.  Here he reflects on that journey …

Making a start in chemical engineering
“There must have been more than one hundred cards in that box, so my three needles piercing the card that read Chemical Engineering seemed like fate.  I was already interested in nuclear reactors and particle physics and had written essays on the subject at school, so I was happy when that career option came out of the box.

I set about researching universities and decided that, if I was going to commit to being a chemical engineer, I wanted to do my degree at one of the best institutions in the world, so I applied to Imperial College of Science and Technology in London and was accepted.  I graduated from Imperial College in 1983, but, when I stepped out into the world of work, I was met with very few job opportunities, thanks to a severe economic recession.  Despite that, I managed to join a London-based graduate scheme at Davy McKee, a multinational chemical engineering contractor.

From graduate to lead chemical engineer
One memory sticks out in my mind during my early days at Davy McKee.  We were designing an ammonia plant for ICI and among the team was a man who stood out.  He would sit in the middle of the working area surrounded by technical documents and whenever anybody on the team wanted to know something about the project, they sought this person’s advice.  Eager to find out more about his role, I asked him why everyone turned to him for decisions and he told me that he was the lead chemical engineer.  Here was an engineer who seemed to know everything about chemical engineering, and also took full responsibility for the big decisions. I knew straightaway that I wanted to work towards becoming a lead chemical engineer as well.

My chance at being the lead chemical engineer came sooner than I expected, at age 25.   Four years on from joining Davy McKee, the head of process engineering called me into his office to brief me on an English China Clay project, a mineral plant at Indian Queens in Cornwall that had to be completed and commissioned.  The assignment was due to last six weeks, then we would hand over the plant to English China Clay to produce kaolinite, the chemical used to make paper white.  At the meeting was an important-looking man who I assumed was the lead chemical engineer and that I would be working alongside him, learning on this important project.  Not so – he was the graduate trainee, and my boss was now entrusting me to run the show and commission the new plant. It was so unexpected; I was now the lead chemical engineer.

Developing a thirst for business
During our initial meeting with the engineers at the English China Clay site, we learned that half of the plant was actually ready to go live, and, in addition, that the plant was designed to work half on/half off.   Yet the plant had not been started, despite the company needing it to be operational as soon as possible.  All that was needed was for the lead chemical engineer to sign things off and give the green light.

I had a discussion with the decision-makers of the new plant and explained that half the plant was ready and asked them if they wanted that half to be commissioned immediately, and the whole plant once the other half had been completed, and they agreed emphatically.  To their surprise and delight, the following morning half the plant was up and running.  The delay in commissioning that half of the plant was due entirely to the fact that a lead chemical engineer was needed to evaluate the plant and ensure that everything was in perfect working order before it could be started – none of the other engineers on the project had the authority to do that.  This was a milestone in my career, one I had been working towards for four years.

The other half of the plant was completed in the next three weeks, so the project took half the contracted time.  That was a significant success for Davy McKee and the company earned a bonus.  That experience got me thinking about the economics of projects: how do contracts come together and how does a company make money and profit?  I began asking questions about how we cost proposals, for example, how does a business know how many labour hours to allocate to a given project and that the quotes given turn out to be accurate?  When you do your chemical engineering education, you are taught some economics, so you get a basic understanding of supply and demand and company finance, but it doesn’t delve further.  I became extremely interested in learning more about how businesses work.

Unlocking career options with an MBA
At this point, I started talking to other people about my interest in learning about the intricacies of business.  It was my current girlfriend who suggested an MBA; at that time, I knew next to nothing about MBAs.  After doing research on what an MBA is and how they help to expand your knowledge and opportunities, I realised that the career potential following an MBA would be incredible – some graduates were receiving five or six job offers and doubling their salaries after graduating.  It was during this research phase that I discovered the Sainsbury Management Fellows (SMF) scholarship which, if successful in making an application, would pay for tuition and accommodation for my MBA programme.  This would be transformative – I could do an MBA straightway and not have to get a loan or save up for several years.

I contacted the  Institution of Chemical Engineers which promoted the SMF scholarship to find out how to apply, only to learn that I had missed the application deadline by two days.  However, I must have said something convincing during the conversation because I was asked to apply despite the missed deadline.

I really enjoyed the whole process.  In addition to the application form, I had a three-hour panel interview which covered everything from my education and career experience, to what I had accomplished in engineering, why I wanted to do an MBA and how I planned to use the new skills after graduating.  I talked about my experience at Imperial College London, my work at Davy McKee including my progression to lead chemical engineer and gaining chartered status.  I also gave a presentation on a unique project that I had worked on: the first ever plant to encapsulate nuclear waste in concrete and store it, which the panel found fascinating. When they asked what I wanted to do when I got my MBA, I said I wanted to become a strategic planner at Davy McKee and be more involved in the future of the business.

I received a conditional SMF scholarship offer.  After successfully completing the GMAT, I was offered a place at my first-choice business school, INSEAD. Then my SMF scholarship was confirmed and I was on my MBA journey.

The ‘golden ticket’ effect
When I graduated from INSEAD in 1991, having learned a great deal about finance, business, and strategy, I was raring to go.  We used to call an MBA a ‘golden ticket’ because, career-wise, one could go anywhere with it – the possibilities were limitless.  Sadly, my graduation coincided with another global recession, and the job market wasn’t as ripe and fertile as it should have been. In fact, when I left INSEAD, fifty per cent of its graduates did not have one job offer, let alone the typical five or six.

Despite the downturn, I was fortunate to get a job offer from the chemical company Eli Lilly to work on its European inventory and was considering it before fate intervened.  A friend I hadn’t seen for a while invited me to a birthday party and I dithered about going, but then decided why not, nothing ventured, nothing gained!   During the party, my friend told me that he was working for a  large American company called GE Capital, financing big infrastructure projects.  It sounded fascinating and, despite the recession, they were looking for six new hires. Before I knew it, I was in an interview with the director, with him talking about how much he valued experienced engineers with an MBA. He explained that finance was easy to teach, but engineering skills and acumen were not, and that having an engineer overlooking business decisions gave them a unique and informed perspective.

The next day I was offered the job and went on to work for the company in London, where I stayed for seven years before being transferred to the USA. I worked for a decade in the US before being lured back to the UK by another interesting and lucrative offer, to be a chief credit officer within the European arm of GE Capital.

As a chief credit officer, I was responsible for reviewing the team that analysed the performance and financial status of 800 companies in order to tailor-make financial solutions for them.  This involved looking at the businesses holistically – marketplaces, supply chains, purchasers and finances – and then developing innovative financial solutions beyond conventional bank loans, for example equipment finance, leverage finance, equity, etc.  By analysing these companies in depth, we were able to pitch solutions and work with them on alternative routes to develop and create partnership opportunities for GE Capital.

Ironically, recession has played a pivotal part in the forks in my career path.  Come 2008, the financial markets crashed, and, like many other companies, there were cutbacks and reorganisation at GE Capital, and this led to a change in my role.  I was handling leverage finance doing management buy-outs.  At that time GE Capital did not have a retail bank in England (as it did in other major cities), so the company decided to set one up, and I was tasked with establishing the credit and risk side of the bank, ensuring that it was completed properly and gained FSA approval.  Despite the responsibility, my transition from project finance to retail banking was difficult because I didn’t find the new role as stimulating, so eventually I felt I wanted to move onto something new.

A Shade Greener and becoming Chief Financial Officer
A company called A Shade Greener, which generates electricity through solar panels, was looking for funding.  It had secured £20 million from RBS, which was at the limit of what it could lend to the company, and that’s when it crossed my desk at GE Capital.  It seemed like a great business.  At the time, it was doing 40 installations a week, but I thought it could manage three times that amount.  Long story short, I ended up taking a 92% pay cut to join A Shade Greener as its chief financial officer in 2011.

To move from a steady corporate job with the largest company in the world to becoming an entrepreneur was, to put it mildly, a calculated risk. However, this job move was an exciting challenge, much more in line with my aspirations at that time.  Overnight I went from approving loans to trying to borrow money. My initial expectation was to work three days per week to raise money for the business, but it quickly became a full-time job. Within four years, we had raised £500 million in equity, debt and sales acquisitions and were doing close to 500 installations per day. The business has flourished and today it is what is known as a cash-cow.

Lessons from the MBA
One of the most important things I learned at INSEAD was how companies make money.  If you are in business and you don’t understand how a business makes money, you won’t understand how it will continue to make money and survive.  Engineers with MBAs help because we’re not bamboozled by financial terms and we tend to look at risks in a critical way.  Running a business and making decisions is surprisingly similar to working on a chemical plant where you are constantly doing ‘what if’ analyses.  The combination of engineering experience and an MBA puts you in a unique position to do this analysis.

Today I’m an entrepreneur working with several innovative UK tech and engineering companies. I’m passionate about helping new businesses raise the funds they need to take off.  A huge part of that is helping entrepreneurs effectively communicate the unique selling points and benefits of their innovations so they can secure investors.  For me, this all started with A Shade Greener, but I consider myself a lilypad-hopper, jumping into exciting new opportunities as they arise, for example plastic recycling, an SME fund to cover the Covid impact, and assisted living accommodation.

For instance, through the SMF network I was recently introduced to a company called Plastecowood which manufactures plastic lumber and outdoor garden furniture from recycled plastic waste, and I’ve since become its CFO.  I’m also trying to set up a ‘Back to Normal Fund’ to invest in British businesses with the aim of delivering more innovative and flexible funding solutions than traditional banks allow.  The aim is to support companies that have a strong offering and future but have suffered the ravages of the COVID pandemic lockdown.

I have always felt that I owe British engineering something because of my SMF MBA scholarship; that’s how I got my big break and ended up where I am today.  If I can get this fund off the ground, that will be the epitome of what Lord Sainsbury wanted us to do!

Advice for those thinking about an MBA
My number one piece of advice to anybody considering doing an MBA is: do it now!  We are about to experience another recession, this time driven by the pandemic.  So, going to business school now is, I think, a good time.  Do it now and come out of business school with your ‘golden ticket’ when we are bit further along this difficult route.  My other bit of advice would be to keep an open mind about job roles and go and see anybody who expresses an interest in interviewing you. My unexpected turn of luck was getting an interview at GE Capital that led to me doing deals of $1.5 million to $27 billion. That opportunity would not have come my way had I not taken a punt and gone to a party that I really wasn’t in the mood for at the time!

If you are an engineer seeking an SMF scholarship to help finance your MBA, always be yourself, be thorough and well-prepared if you want to impress the panel.  Be three questions deep on every topic and back up everything you put into a presentation, with facts and examples of your achievements.  Make sure you know what you’re presenting and what’s behind it, and never wing it as inevitably you will be caught out and will lose your credibility.

Simon has had an incredible career and, most importantly, he has had fun along the way.  Today, as an entrepreneur, he can decide which projects he wants to support, and is helping a diversity of businesses become financially sound.  Like many Sainsbury Management Fellows, Simon is involved in community and voluntary work.  He is one of the country’s many volunteers on the COVID frontline, in his case, as ambulance crew for St John Ambulance doing 999 calls.

The SMF MBA Scholarship
If you are a professional engineer considering an MBA as a stepping-stone towards a business leadership career, visit our MBA scholarship application page, you could be awarded a £50,000 scholarship.

Coping through COVID: Less Obvious Strategies for Growth Businesses to Survive the Pandemic – SMF Chirag Shah, Executive Chairman, Simfoni

To say the COVID-19 pandemic has been a test for businesses would be an understatement. Throughout the course of the past 12 months, businesses have been forced to make serious adjustments to their day-to-day operations.  Digital-savvy companies might have found this easier than most, but even those at the cutting edge will have found themselves scrambling to re-assess their expectations just to stay in business. There will no doubt be start-ups out there that have actually benefited from the crisis, but for every success story there will be countless start-ups and young businesses still struggling to adapt to the so-called ‘new normal’ in which we find ourselves.

However, despite all of the uncertainty, there are several things that young, innovative businesses can do to increase their resilience and weather the COVID storm.  Some of these ‘coping’ strategies are fairly obvious, such as securing financial support packages such as bounce back loans, future funds and innovation grants. Staffing policies such as hiring freezes and the furloughing of surplus staff will also have been a necessary measure taken by many businesses. Some may have even introduced pay cuts which, so long as they’re top-down and impact managers as much as – if not more than – those lower down the ranks, is a sensible but hopefully temporary move. The last tool in the arsenal of most young businesses will be the slashing of overheads to reduce costs – the elephant in the room during the pandemic being unused office space which can save significantly in rental fees.

Less obvious strategies for ensuring growth
The above techniques are  a good start, but what about less obvious strategies for navigating through the pandemic?  Faced with a downturn in business, the above ideas may not be sufficient to ensure business survival. And many business leaders won’t just be looking to survive but continue their growth throughout the crisis.  Forward looking business leaders should be looking at adopting a combination of light-handed and more aggressive tactics, in the right place and at the right time, to ensure their survival. These tactics fall into two categories – cost and revenue – which we look at in more detail below.

Tactics to ensure revenue growth
Revenue is like oxygen for businesses. Go too long without it, and your business will become weak and eventually fade away. Your first move as a business owner during a time of crisis should therefore be securing revenue and cashflow.  Start by removing all friction, making it easier for your customers and clients to engage with you however they wish.  For example, remove upfront fees or setup fees where possible to simplify customer acquisition, and curtail long-term commitments that might delay sign-off. Remember that your customers are most likely in the same boat you are and looking to make cost reductions, so treat them with care and double down on customer service offering whatever help you can to make their lives easier and make your services indispensable.  Finally, while trying to get money into the business might be your number one objective, the best way of achieving this might be to offer some flexibility to your customers – far better to wait for a late payment than lose the business altogether.

There are things outside of the day to day that could help businesses maintain or build revenue too. Consider diversifying your business and embracing new channels for marketing and distribution. Offer a unique service that responds directly to the events of the pandemic, such as additional customer support. Your messaging should also adapt to fit this new narrative, reminding customers and prospects that you’re very much open for business and willing to help and flex to help keep them on track too.

Tactics to effectively reduce costs
Top line revenue isn’t the only factor when it comes to business sustainability.  Businesses that don’t keep a close eye on their expenses and take advantage of every possible reduction are both increasing their viability risk as well as limiting their potential to re-invest in growth. Your first course of action should be to start the clock on all notice periods for any suppliers or facilities irrespective of whether you know you’re going to need the service or not during the pandemic period. These contracts can have 3-6 months’ notice periods, so starting the clock should be number one on your list of priorities.   Of course, if things shift positively and you want to re-engage these firms, it only takes a minute to reverse the decision.

For any suppliers or facilities that you know you’re going to need, take the opportunity to renegotiate terms, particularly if the contract period is nearly up.  Remember, commercial landlords and countless suppliers are going to be worried about their revenue too and will want to gain some security about your future business.  For instance, if you know you’re going to be using a particular service in the long term, offer a contract extension in lieu of a reduction in current pricing. Far better for a service provider to keep you at a reduced rate than to try and attract a new customer in the current economic environment.

Staffing is another area where cost reductions can be made. It’s never easy, but with the changing work environment and rapid fluctuations in customer demand for services, you may find that you have to let some non-core staff go. The job market has also been flooded with candidates, particularly those with digital skills so if you are hiring staffyou may be able to enlist the help of interns and remote workers at a reduced rate.

Risk management
As well as controlling revenue and costs, now is a very pertinent time for businesses to review their risk management strategy. With the working landscaping changing so rapidly, businesses are vulnerable to all manner of threats, from cyberattacks and supply-chain disruption, to force majeure clauses or flaky contracts that could leave your business exposed.  Carry out thorough risk assessments and learn your business’ vulnerabilities inside out so you can start building toward a stronger, more resilient future.

With vaccines now being rolled out at a rapid rate, the COVID-19 pandemic will hopefully soon be behind us.  By taking some of the steps outlined above, businesses can not only ensure their survival throughout the crisis but build for a more profitable future.  One thing’s for sure, businesses that make it through the pandemic will be stronger and wiser as a result – make sure you’re one of them.

Chirag is the Founder and Chairman of Simfoni a leader in spend management. The global company has offices in USA, Europe, Australia and Middle East. Its AI-powered intelligence solution and on-demand platform empowers procurement and finance teams to achieve rapid savings and support supply-chain sustainability with automated procurement.

From Engineer to Entrepreneur: How an MBA Helped Change My Career Trajectory – SMF Chris Hughes, Founder of Wilfred’s Aperitif

SMF Chris Hughes has always been an engineer at heart. As a child he spent many happy hours in his parents’ basement workshop designing and building things – he enjoyed the process of creating solutions to problems. At just 11 years old, he built a ping pong pick-up device from wood and a levy system to avoid having to manually pick up the ping pong balls himself. One of his creative inspirations was Leonardo da Vinci (he was an avid reader of comics featuring da Vinci), which gave him an early understanding that engineers are innovators, people who create rather than fix things. Chris said, “The idea of innovation excited me. Looking back, I guess engineering was always a natural path for me.” Chris takes up his story…

Becoming a student of engineering
“I did Mechanical Engineering at Imperial College London with an Erasmus year in Lyon, France. After graduation, I wasn’t sure how I was going to use my engineering degree because there are many different routes you can pursue with an engineering degree. My third-year project at Imperial was designing an artificial heart valve, but my internship in France was working in R&D on high-speed trains. These are such different aspects of engineering, yet both interested me greatly. When I graduated, I took a year out and travelled to Argentina where I worked for a charity and learned to speak Spanish. It was a great time to reflect and think about my future and I decided that I would like to do a job that allowed me to travel and to build on my experience in the rail industry. I started applying for engineering jobs in the UK and abroad and a golden opportunity presented itself at the Japanese company, Hitachi, inventors of the high-speed bullet train. I couldn’t pass up the chance to work for such an innovative company and, possibly, the chance to work in Japan.

Starting a career as an engineer
“The Japan dream would have to wait for a little while. When I started my 5-year stint at Hitachi, the company had just expanded into the UK and had a 30-strong team in Ashford in the UK. This provided excellent experience and knowledge of how Hitachi was run. Because the UK team was small at the time, I shared an office with key decision-makers including the MD and even brushed shoulders with the CEO. I was entrusted with assignments that would normally be out of reach for someone of my level of experience at that time. I always had a hankering to work where the trains were being built and persuaded my superiors to post me to Hitachi in Japan. I was the first UK engineer to move to the Japanese business on a semi-permanent basis and it was fantastic.

“In just under a year, I was back in the UK managing the coordination between Hitachi Japan and Hitachi UK. It was around this time I started to take a keen interest in the business operation, rather than focusing purely on the engineering side of things. Being so close to the team in the UK, and then mediating between the UK and Japan while helping to handle customers, gave me a real insight into how to nurture and develop a business. I started to think about whether I could I have a bigger impact in an engineering company if I had a stronger business background to help make big decisions. This is when the prospect of doing an MBA entered my mind.

The Move to an MBA
“By that time, I had also become a Chartered Engineer, an important career milestone for me. I felt like I had achieved so much, and it would be a good a time to explore other possibilities. I first heard about MBA courses through some of my friends who were studying MBAs at the time. It sounded like something that could open doors for me and get me more involved in the world of business. Hitachi kindly offered to support me through a part-time MBA, but I wanted to make a huge leap, transitioning from a pure engineering role into a management one. I felt it was best to get a formal business school education, so I started researching schools and the application process. The only real concern I had was how to fund the MBA. I couldn’t believe my luck when I got speaking to a stranger on a train who also happened to be an engineer. She worked for the Royal Academy of Engineering and mentioned the SMF scholarship and the generous MBA grant. Getting the scholarship wasn’t a given, but if I could get the grant it would remove the financial worry of doing an MBA. I got through the scholarship application process and not long after that, in 2015, I was awarded a £30,000 SMF scholarship and I was on my way to INSEAD.

Doing an MBA at INSEAD
“My time at INSEAD was enlightening. I learned the basics of good business acumen, from marketing and strategy right through to finance and accounting. It gave me real insight into how business works, how people think and how organisations behave as a collective enterprise. I learned that business is about more than numbers; it’s very much about people.

“As an engineer, you tend to want to fix every individual problem you encounter. But business is different and managing people can be unpredictable. There’s a discipline I learned about at INSEAD called ‘Design Thinking’ which takes a human-centred approach to business. You start with a human problem, and then you work back to find a solution to fix it. This approach works well with engineering, once you identify the human need and establish problems and barriers, you can apply an engineering solution.

“During my MBA, my passion for innovation was reinforced. I went into my studies thinking I would do a management role in an engineering business when I graduated, but I met so many amazing people and saw so many different perspectives. It felt like another world of opportunity was opening up to me. Instead of going back to engineering after graduation, I went to work with an innovation company called What If, something I might never have had the confidence to do without the MBA.

How Wilfred’s Non-Alcohol Aperitif was Founded

“I worked at What If for two and a half years following my MBA, which allowed me to hone my innovation, prototype testing and business skills. Armed with this knowledge and my MBA skills, I had the confidence to branch out on my own and create Wilfred’s Non-Alcoholic Aperitif, my first business venture.

“Like most young people, I enjoyed the occasional alcoholic drink with friends. But as I got older, I became less interested in alcohol, to the point where I barely drank and would rather have alcohol-free drinks. It frustrated me that, aside from one or two instances of clever branding, no interesting non-alcoholic drinks had really made it into the mainstream. I decided to try and change that, which began with prototype testing.

“I started making drinks from scratch for my friends to try using ingredients from all over the world, such as English Rose, Japanese Hibiscus, Mate from Argentina. Increasingly though, I ended up using ingredients that were closer to home – rosemary, strawberries, raspberries – many from my mother’s garden. I had a formula to describe how I wanted the drink to taste, which is typical of an engineer or mathematician – that’s the way my mind works now. I would say making a drink is part science and part art; I’ve taken a very scientific approach to making Wilfred’s. Without a doubt, engineering has helped in ways you would not expect. Just three and a half months into the launch, Wilfred’s won the award for Britain’s Number One Non-Alcoholic Drink, as judged by the 2020 Great British Food Awards.

“There are many ways in which my business education, the innovation courses and experience have helped me in developing and launching Wilfred’s, ranging from understanding the intricacies of finance to marketing and scaling-up the business. Like most entrepreneurial ventures we had challenges along the way, for example, scaling from home batch to production batch involved trial and error to find the right production partner, and many months of work went into creating exactly the right brand. Even though I had adopted a “bootstrapping” strategy to finance the business in the early stages ultimately I decided to engage a branding specialist to perfect the design. The drinks industry is complex and highly competitive and getting the branding wrong would have set me back months. Understanding when to make these big decisions is vital and having a business education helps.

“Likewise, deciding on the channels to market is critical to success. Before the COVID-19 pandemic I had ambitious plans to sell to restaurants, bars and pubs and had some success, for example, Wilfred’s is available at the Hilton Lexington Rooftop Bar, but once lockdown came, I had to completely pivot to online sales via the website. Because I now have a good grasp of sales and marketing planning, I had already established a strong network of partners, for example, a reputable and cost-effective distribution centre which ensures that everything from the packaging to the delivery are perfect. I had also implemented a communications strategy, including traditional advertising and social media, to build a brand reputation, long before the product hit the market.

“I am at the start of an exciting journey. I am already looking at selling the product via channels like Not on the High Street and Yumbles, and the long-term goal is to get Wilfred’s into major supermarket chains, a goal that requires considerable work and relationship building with buyers. In a year or so, I will be looking at fundraising, something I would not have embarked on without the knowledge I gained through the MBA and working for What If. External investment will enable me to start bringing team members on board.

Value of the MBA
“The MBA has given me a much more strategic and structured approach to launching my business and has helped me make critical decisions at the right time, for example, changing from the original production company to a new one. Likewise, my engineering background helped me to deal with production issues we encountered with the first company. Having this knowledge allowed me to understand what the problems were, probably better than the people who were bulk producing the drink! I have been able to speak with people on an equal footing when it comes to technical areas such as pasteurisation and sterile filtration. In this respect having an engineering background has been so helpful.

Advice for Young Engineers Considering an MBA
“Doing an MBA was one of the best decisions I ever made, but it’s not necessarily the route for everyone. Think long and hard before making this decision, as MBAs are expensive. That said, even the process of considering it (or applying) can be extremely helpful in terms of thinking about your career. Just exploring the benefits of an MBA will focus your mind on what you want to do with your future, as well as the things you might want to steer clear of. If you really do want to open doors and take a sideways, upwards or altogether different step, an MBA is definitely worth doing. If I had not been awarded the SMF scholarship and done the MBA, I would not be where I am now – with my own business, winning awards and looking forward to a strong future for Wilfred’s.”

The SMF MBA Scholarship
If you are a professional engineer considering an MBA as one of the stepping-stones towards a business leadership career, visit our MBA scholarship application page, you could become one of our successful awardees – today the individual scholarship is £50,000.

Do you need an MBA to be an Entrepreneur?

Do I need an MBA to be an entrepreneur

By EIBF President, David Falzani MBE

Since the MBA first materialised more than a century ago it’s been intrinsically linked to business career success.  After all, the programme is designed to prepare professionals for senior management positions within business, so it’s little wonder that many of those with MBAs have gone on to have wonderful business careers. You would therefore be forgiven for thinking that an MBA would be an invaluable – and even necessary – tool for launching your own business.  However, the answer to the questions ‘do you need an MBA to be an entrepreneur’ is a little more nuanced than you might initially think.

In today’s fast-paced digital business landscape, starting a business is easier than it’s ever been.  Start-ups are everywhere, and guess what? The vast majority are not led by people with MBAs.  Most people with that entrepreneurial fire tend to ‘learn by doing’, usually picking up useful advice from mentors and role models along the way.  Depending on their type of business, some of them may even enrol in educational accelerator programmes such as the Royal Academy of Engineering’s Enterprise Hub which is aimed at engineers.  If these entrepreneurs do take on an MBA, it’s usually after they’ve completed their first foray into the world of business. That’s not to say an MBA can’t be hugely advantageous, but it certainly isn’t a requirement.

When MBAs were first established, they were not really geared toward entrepreneurship. They were, and still are, a primer for business. They were designed to whet the appetites of candidates and equip them with the basic tools and knowledge needed to go on and thrive in their business careers, in whatever role they chose. However, like business itself, the MBA is always evolving. The past 15 years in particular have seen the MBA change considerably, now offering lots of entrepreneurial options that could easily set somebody on the path to launch their own enterprise.

Twenty years ago when I did my MBA, which spanned Europe and the USA, things looked quite different.  The European portion of my MBA had no exposure to entrepreneurship as a subject at all, whereas the USA portion not only recognised entrepreneurship, but dedicated a separate branch of teaching to it that covered specialised techniques and approaches to business.  Of course, things have changed today.  So, if you are considering an MBA and have that entrepreneurial fire within you, know that there are MBAs out there that will fully support it and arrange their teaching around it.  In fact, most MBAs will have a leaning one way or another depending on the schools that are providing them, and the electives that are available – that’s why it’s crucial to pick the right course at the right institution, and entrepreneurship is no exception.

While it probably doesn’t hurt to have an MBA, with the wealth of knowledge it brings, don’t let the fact that you don’t have one (or don’t have the time/resources to get one) hold you back. There are countless ways to quench that entrepreneurial thirst, from entrepreneurship programmes at universities to local business groups that let you liaise with successful business leaders.  An MBA is a valuable asset, but it’s far more focused on the bigger picture.  You might even find that you learn more from an MBA once you’ve tried your hands at business. Whether you win or lose, the experience alone will be enough to prepare you for an MBA, in the same way we recommend a few years in industry first for those thinking about an MBA as part of their career development.

An MBA is a fantastic educational experience that can provide a great career boost, but if your sole objective is to start your own business there’s probably a better route you can take in 2020.  For example, I’m a trainer on the Goldman Sachs 10,000 Small Business UK programme that runs out of Oxford University.  Each year it attracts 140 brilliant small business CEOs and very few of them have MBAs.  What they do have, however, is a huge amount of support and business advice from mentor figures and people taking part in the programme.  Similarly, there are many regional programmes specifically for start-ups, often run by local universities or business schools.

For example, at the University of Nottingham, where I’m a professor, we have a start-up Lab for new businesses, and more than 50 entrepreneurs in residence who are available to mentor, support and run workshops for young aspiring business leaders. While higher education qualifications are still very much valued, there seems to be an increasing appetite in entrepreneurial circles for raw, ‘learn by doing’ experience and the kind of knowledge that can really only be passed down from one successful business person to the next.

With this in mind, it’s safe to say that an MBA is most certainly not a requirement if you’re looking to start up your own business. By all means view it as an option, but know that there’s a wealth of support, advice and mentorship out there that could get you to where you need to be far more effectively and faster than an MBA.

If and when the time is right for you to do an MBA and you are a professional engineer considering an MBA, you can apply for a scholarship towards your study. Visit our MBA scholarship application page to learn about our £500,000 annual Sainsbury Management Fellows scholarships.

Photo by Austin Distel on Unsplash

How 4 professional engineers used an MBA to change their careers

The MBA is a highly desired qualification by both young professionals and employers.  Not only does an MBA equip the student with a wealth of business and leadership skills, it  shows clear signs of an individual’s focus and ambition as well as an adventurous spirit – leaving a secure job to study for an MBA requires not only funds but courage.

MBAs benefit individuals, employers, and the economy. Although it is essential to hone skills in specialist areas, businesses are keen on hiring MBA graduates because they have a deeper understanding of a range of business practices that enable them to be more strategic and agile in their thinking and problem solving.

The MBA opens new career opportunities, helps students to gain better insight into their motivations and goals, and connects them with inspiring professionals who can support their career ambitions long term.  Taking an MBA is a major financial commitment and because of their prestige, the cost of attending the top international schools is high.  Consequently many students seek scholarships to support their studies.  For over 30 years, the Sainsbury Management Fellows (SMF) scholarships have been awarded to professional engineers who have clear leadership potential.   Today, there are 365 SMFs who, collectively, have been awarded £11 million in scholarships to enable them to acquire skills that help UK businesses succeed and the economy growth.

In this blog we introduce four Sainsbury Management Fellows who have used their MBA skills and experiences to steer their careers in new and exciting directions.

Engineering a Finance Career in Green Energy:  SMF Chris Gifford, Senior Risk Consultant, Chief Credit Officer, Vancity Community Investment Bank, Canada

After gaining his engineering degree at Oxford University, SMF Chris Gifford started his fulltime career in the power generation sector. He worked throughout the UK and internationally helping to operate and maintain the control and instrumentation systems of fossil-fuelled power stations.  He progressed into a commercial role, analysing the financial performance of the power stations, which gave him a deeper understanding of business and a desire to pursue his career in a business direction.

Chris decided that he wanted to work in the cutting-edge transition from fossil-fuel to green technology in a business and finance capacity, but he realised that he needed additional business skills to secure a top-level position in a leading company.  Because of his engineering background, prospective employers tended to pigeon-hole him as a techie. Chris knew that gaining an MBA would enhance his skills and make him more marketable.  The MBA, which he undertook at INSEAD, provided not only the vital business skills needed for a career shift, but accelerated an improvement in his interpersonal and leadership skills.

Today, Chris is the Senior Risk Consultant, Chief Credit Officer at Vancity Community Investment Bank in  Ontario, Canada where he uses his combined engineering and business skills to assess the viability and robustness of complex renewable energy proposals from businesses seeking finance, eliminating the need for the bank to use external professionals to carry out additional assessments.  In addition to identifying potential problems, Chris recommends improvements and efficiencies that allow important renewable energy projects to be funded.

Chris’ engineering background is a major asset in his role.  He explained: “My engineering skills are typically applied to evaluate whether businesses trying to access financing have fully understood the complexities for themselves.  There is a bias for optimism and sometimes blind spots when it comes to risk assessment; I provide an objective and pragmatic view on how likely a project is to succeed.”

Switching from a Technical to Management Role:  SMF Dere Ogbe, Shell Corporate Strategy and Portfolio Consultant, UK

SMF Dere Ogbe was appointed Senior Strategy and Portfolio Consultant at Shell after graduating from London Business School with an SMF-sponsored MBA.   He credits his MBA for galvanising his career in this new direction and says he now has the ability to lead both technical and commercial strategy projects.

Before taking his MBA, Dere was a Senior Operations Excellence Engineer at BP Exploration. This was a technical role which involved implementing best practices to drive continuous improvement across joint ventures in Europe, Middle East, and North Africa. This involved cascading business decisions into technical requirements and this gave Dere an insight into how commercial choices drive project design and operational requirements.  This awareness, coupled with the knowledge from courses such as Managing Engineering Projects, sparked his interest in business management.

Dere sites a number of ways that the MBA has helped to transform his career: “It has given me the necessary financial, strategic, and commercial skills to quickly analyse problems and propose possible solutions. The programme also enhanced my data analytical and leadership skills. Also, I feel very comfortable leading a wider range of people with different technical and commercial expertise.  With these additional skills, I can jump into projects and get up to speed quickly.  The part of my job I especially love is the challenge of thinking on my feet, rapidly uncovering the critical factors and, with the team, creating a roadmap to solve the problem.  The MBA has had a transformative effect on my career and leadership skills.” 

Billy Comes to Life Through Engineering and Business Talent: SMF Rob Deering, CEO, Billy, Australia

Before business school, SMF Rob Deeming gained a degree in mechanical engineering at the University of Nottingham. After graduation, he spent five years as a consultant at Bain & Company where he developed practical skills such as problem-solving and collaborative working.  This role gave him the time and freedom to decide what he wanted to do longer term.  He said: “It was an incredible place to start a career. The level of learning, skills development and personal support available in consulting is second-to-none.”

Rob took his MBA at Harvard and says that it gave him both personal and professional perspective: “It opened my eyes to new career pathways, in particular, those which combined his engineering and business skills.”  Since graduating, Rob has lived in both New York and Sydney where he has built several tech-driven businesses, including three start-ups.

The most recent entrepreneurial venture is a technology company, Billy, which addresses the fundamental challenges of caring for seniors, while allowing them to remain in their own homes as independently as possible, on their own terms. Billy uses a series of Internet of Things sensors to identify patterns of behavioural routine for seniors, and shares this information through an app, in real time, with family members and professional carers. Billy can read all the activities of daily living using smart analytics to determine patterns in routine and identify changes before they result in medical emergency.

The future is exciting for both Rob and the company; Billy is growing in size and reputation and is now in 1,000 homes across Australia and the USA. Initial feedback shows that customer confidence is high and there has been a reduction in hospitalisations in the households where Billy is installed.

Winning an SMF scholarship enabled Rob to undertake his prestigious MBA, which gave him the skills to follow his entrepreneurial dreams.

Engineers with Business Skills Transform UK Industry: SMF Ian Peerless, Operations Director, ExRobotics, UK

SMF Ian Peerless and ExRobotics Colleagues

Ian Peerless’ route to an engineering career began at the University of Southampton, where he graduated with a First in Civil Engineering, after which he spent a year with British Leyland in a mechanical engineering role.  The hydrocarbon industry in the North Sea was booming and he was keen to move into that sector, so gained a Petroleum Engineering Masters at Heriot-Watt University and shortly after graduating joined Shell as a Petroleum Engineer and enjoyed an international career for five years.

However, he reached a ‘crunch point’ in his career, as is often the case with young engineers.  At this point there is a choice; to work up through the ranks of a company as a pure engineer or to diversify and move upwards in a different direction.  Ian chose the latter. His interest in business management led him to the MBA, with a scholarship from SMF to attend IMD in Switzerland.

The MBA gave Ian the credibility required to step into a management role; a role that would otherwise been out of his reach. He was one of the first engineers to benefit from the SMF scholarship programme, and proved that having engineers in management roles throughout industrial companies is extremely valuable.

After the MBA he joined British Steel, where he gained a wealth of management experience. He worked in Business Development, Sales, Operations, and finished as the number two in the Business Strategy department reporting to the main board.   After 15 years with British Steel, Ian was enticed back to Shell, where he was a key member of an internal consultancy group.  He travelled the world advising, coaching and facilitating leadership teams on project management and contract strategy.   When that project was completed, he set up an independent consultancy, IPKA where he continued to perform a similar role to the Shell position, but with different oil and gas companies.

In 2010, Ian took on a Shell contract to develop an oilfield robot. He gained extensive knowledge of this specialist robotic niche which led him to form ExRobotics, a company that is tackling the problem of oil and gas operators being sent into hazardous, harsh, and remote locations. The robots can be permanently stationed at those locations, removing people from harm’s way as well as cutting costs and reducing lost production.

Summing up the benefits of the MBA, Ian said: “The MBA gave me skills that I still use in my work. In particular, the ability to understand a business, its markets, its competitive position, and to turn that into an action plan for success.  Furthermore, the MBA made me understand that if you combine the strengths of individuals and create a motivated team, wonderful things happen. The MBA not only changed the direction of my career it also changed my industry.  The combination of my life before the MBA (technical) has been combined with my life after the MBA (management) to create ExRobotics.”

How to Apply for the Sainsbury Management Fellows MBA Scholarship

If you are a professional engineer considering an MBA as one of the stepping-stones towards a business leadership career, visit our MBA scholarship application page, you could become one of our successful awardees –the individual scholarship is £50,000 and we award ten of these every year.

What is an MBA? – by EIBF President David Falzani MBE     

Benefits of Studying for an MBA

The MBA has been around since 1908 when the Harvard Graduate School of Business Administration was established in the USA. Across the world today, the MBA is the watchword for business career success, and prospective students are spoilt for choice as to where and how they study – from the world-leading schools like Harvard and London Business School (which was the first UK business school) to virtual online schools, from full-time courses to part time study.

MBA programmes prepare professionals for senior management roles in business.  Typically, MBAs are taken by those who have already been working for several years, but that’s not always the case.  Some people go straight from their first university degree to study for an MBA degree and this is the beauty of the business school offering; there are options to suit everyone.  This includes MBAs at premium business schools, like LBS or Harvard, and, for want of a better term, ‘mainstream’ business schools.  Courses are available either full-time (30-60 hours per week) or part-time (one or two days per week) and there are Executive MBA programmes for senior corporate executives and managers who study whilst working, and sometimes their study is partially or fully funded by the employer.

Requirements to Study an MBA
To study for an MBA, you will usually require an undergraduate degree.  Most MBAs require a 2:1 or above, but there are some that will accept 2:2 degrees so long as they are paired with an exceptional application and a set of relevant skills and experiences.  Some work experience is generally required; this being the case most MBA students are between the ages of 27 and 30. One important entry criterion to meet, particularly for top schools, is the GMAT exam score. The Graduate Management Admission Test, or GMAT, is designed to test your abilities across a wide range of areas. A good score will often facilitate entry into leading schools, and each school’s GMAT averages are widely published.

Benefits of an MBA
MBAs expose students to many areas of business including accounting, finance, marketing, people management and leadership skills, and full-time courses do so in an intensive, immersive way that challenges and stretches students’ perspectives and thinking.  The MBA experience often pushes candidates hard – the speed and sheer amount of work faced is sometimes described as a re-wiring of candidates’ brains, such that they can think critically and quickly analyse information, filtering out what is important from the irrelevant. The skills taught in an MBA programme enable you to read, assess, structure and plan rapidly; skills that will enable you to find innovative ways of dealing with big problems.  An MBA graduate also gains an up to date and razor-sharp ‘tool kit’ to apply to any business challenge. These aspects are some of the reasons why the MBA has become so highly regarded by employers.

People from all walks of life want to gain an MBA qualification in order to improve their understanding of business and to accelerate their career.  Developing your business skills is not only good for your personal and career growth, but it is also good for companies and organisations and essential for the economy – enhanced knowledge and skills leads to better solutions to problems which can increase productivity, as well as transform products and services that affect people’s lives.

If you are at that pivotal point in your career where you want to learn more about business and the decision-making processes, it’s important to know that as valuable as the MBA is, the programme is not a final destination, it’s very much the start of a longer journey.  In an MBA you will be introduced to many facets of business and gain a foundation that enables you to confidently delve deeper into areas of interest across a range of subjects as you need to.  Because of this solid framework, when you are back in the world of work, it will be easier to go deeper into subjects that are needed in your job. You will be able to understand business issues and explore them at a level you were unable to do before your MBA.

A Wealth of Choice of Business Schools
Every year thousands of professionals start their search for the right business school for them.  At the top of the MBA tree are the premium schools – these are equivalent to Ivy League ranked universities, which often have long histories, coveted brands, outstanding facilities and attract the best staff and candidates.  The institution’s brand, the quality of faculty and quality of student admissions are all perpetuated by each other, creating an institution designed to offer the very best environment for business education.

Gaining a qualification from a top international business school will open new opportunities.  However, their prestige and resources mean they command high fees – some can be as much as 10 times more expensive than mainstream business schools.  On the upside, their brands add considerable value to the graduates’ own personal brand, giving them an additional asset when they go back into the job market.

There is fierce competition to secure a place at the top business schools – because their brands are so revered.  Unsurprisingly, these schools are often 7 to 10 times over-subscribed for places, so getting-in requires some real work.  Candidates must be very driven and highly organised to maximise their chances. Having access to the necessary funds also helps – some will seek assistance with fees by applying for a scholarship (eg through charities) to supplement their private financing arrangements.  Many candidates have a risk profile that allows them to take on loans, confident that their future income growth will resolve any debt soon afterwards.

There are many fantastic mainstream business schools that do not cost the earth.  More and more, universities are developing high-quality MBA programmes.  Excellent business education is on offer but, being newer into the MBA market, these do not have the same historical pedigree and reputation enjoyed by their premium counterparts.

While those who attend the mainstream business schools may not come away with quite such a prestigious brand to append to their own, they receive a rounded business education (perhaps with less of the heightened level of induced stress that the premium schools engender into their programmes) and can use their new skills to further their career goals.

The Enduring Power of the Alumni
Apart from the new skills propelling your career prospects and salary (it’s not uncommon for business school graduates to double their pre-MBA salary), there is a huge ‘hidden’ benefit.  During the MBA, students develop a network of peers that become long-term associates and lifelong friends.  The business school Alumni is a powerful asset – because of their shared experience, members will reach out to each other when they need help or advice at any stage in their business career, whether that’s as a senior-level employee or as an entrepreneur.

MBA – A Cause for Celebration!
The tremendous success of the MBA is a cause for celebration: the diversity of schools (some offering campuses in several countries as part of the curriculum), programmes and study timetables allow many people to attain business education in a way that suits their ambitions and circumstances.  The timescale over which one can study an MBA has transformed access – there are full-time courses that run from nine to 21 months depending on the school, and part-time learning up to five years. Schools can be physical or virtual.  And, there are prices to fit almost all budgets.

It’s come a long way since its origins in 1908, adapting and evolving to meet the market needs. Accessible, flexible and current – today’s MBA is a truly wonderful platform to boost business education.

If you are an engineer considering an MBA, visit or scholarship page for details on how to apply for a £50,000 award.

 

Nottingham University Appoints David Falzani MBE as Professor

We are pleased to announce that our President, David Falzani MBE, has been appointed to the eminent position of Professor of Practice in Sustainable Wealth Creation at Nottingham University.  David brings to the role significant experience having been involved with a variety of programmes as an honorary professor at the University’s business school for eight years.

During his term at Nottingham University, David has had the pleasure of teaching a wide range of seminars, lectures and workshops.  Undergraduates, MSc, MBA and PhD students have been able to gain insights into many areas of business innovation and finance from sessions that challenged conventional thinking – these included Innovation Management and the role of cognitive bias, Entrepreneurial versus Traditional Management Methods, Innovation and How to  Predict Success,  Raising Funds (venture capital and private equity) and Managing Risk.

Drawing on his commercial experience, David also delivered a thought-provoking range of seminars to both the SME and corporate sectors.  These included The Importance of Strategic Sales Skills, Sales & Marketing and Negotiation Skills for SMEs, and for corporate executive education, Sales Strategy, Market Analysis and Improving the Customer Experience.

These subjects will continue to be part of David’s remit.  He said, “As a formal professor with all the duties and responsibilities of that position, I will be able to support and work more closely with colleagues.  I very much look forward to this new role and to build on the courses that I have been privileged to teach.”

Through teaching at this level for the past eight years, David has learnt the importance of infusing world-relevant entrepreneurial instinct and skills as early as possible, to give new start-ups and innovations the best possible chance of post-graduation success.

As well as being able to share his own commercial experiences and expertise, David also looks forward to helping to expand the opportunities offered by the University as a whole. He hopes to help develop executive education programmes and to try and integrate Sales and Negotiation topics into more student programmes. He also hopes to help develop the ecosystem around the university. Working with real-world businesses and other stakeholders, helping develop interactions that provide benefits for the wider community.

David has a real passion for his role in educating innovators and leaders of the future and continues to work tirelessly to improve the UK economy using his skills and knowledge of both business and engineering.  No doubt this new post will help him further this ambition and will benefit many students.

Engineers in Business Prize for Imperial College London’s Pioneering Women

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Engineers in Business Fellowship recently became a proud supporter of We Innovate, a women’s entrepreneurship programme run by Imperial Enterprise Lab which inspires and accelerates the progress of women entrepreneurs.  At the final held during Enterprise Month 2019, five finalists battled it out to win a share of a £30,000 prize pot, sponsored by BP.

For the first time, the Imperial Enterprise Lab incorporated an Engineers in Business Prize of £3,000 into We Innovate, enabling it to make additional awards.  Two prizes, funded by Engineers in Business Fellowship, were awarded to outstanding engineering projects from the WE Innovate cohort.

Sophie Paisley-Marshall (PhD Student Sustainable Civil Engineering) of Orbit Materials received £1,500 prize for the development of carbon-negative construction materials from waste residues. Orbit Materials promotes a circular economy through the development of a treatment which successfully improves the quality of a waste product so that it can be repurposed within construction applications.  Sophie said, “Our technology reduces the strain on virgin raw materials whilst capturing carbon, thus making our residues carbon negative.”

The second £1,500 prize was awarded to semi-finalist Lauren Dowling (Undergraduate Design Engineering) of Rock N Roll which is developing a collapsible log-fence to prevent rotational falls in equestrian cross-country competitions.

Professor Maggie Dallman, Vice President (International) and Associate Provost (Academic Partnerships), said: “The lack of gender equality in the startup world is well documented. In the UK, only 1% of venture capital invested goes to all women-founded teams, with 89% going to teams founded entirely by men. Clearly, we still have a big problem.

“Since 2014, WE Innovate has supported more than 250 women, equipping them with the skills and confidence they need to develop into successful entrepreneurs. It is wonderful to see this community of female student entrepreneurs grow and the fantastically diverse nature of their inventions.”

SMF James Diaz-Sokoloff, Portfolio Advisor (Intern) at BP who is pictured with Sophie and Lauren said: “It’s exciting to see the dynamism and creativity of the We Innovate competitors and it was a privilege to be at the final.  We are delighted to be part of We Innovate which is doing such an important job in encouraging women’s role in innovation.”

You can learn more about the Engineers in Business prize fund for university enterprise competitions here.

£70,000 Awarded to Universities for Enterprise Competitions  

Engineers in Business Fellowship (EIBF) inspires engineering students, graduates and postgraduates to engage with their entrepreneurial instincts.

EIBF works with universities that run enterprise competitions, providing them with a £3,000 prize fund so that they can encourage more engineers to participate in their business competitions and to reward those who develop the most imaginative and viable solutions to real problems.

The EIB prize fund was successfully piloted at the University of Nottingham and then rolled out to the University of Bristol, Kingston University and City, University of London with great success.  These early successes led to Lord Sainsbury’s charitable trust, The Gatsby Foundation, granting Engineers in Business Fellowship £700,000 to fund more HEI/FEI  competitions over a three-year period.

The expanded prize fund got off to a flying start with 23 universities awarded a £3,000 prize fund – more than £70,000 awarded and there is more to come.

“The expansion from four to 23 universities integrating EIB prizes within their enterprise competitions shows the appetite for the fund and its value to the universities.  In 2019, we want to award a further 25 universities and FE colleges a share of  £75,000,” said EIBF President, David Falzani MBE.

Paula Gouldthorpe, Entrepreneurship Manager at the University of Hull which recently received a prize fund said: “Our Global Challenge is a module dedicated to all our 2nd year engineering students. This year, 300 students, creating 50 interdisciplinary groups of engineers, will solve current real-world problems.  The Engineers in Business competition prize crucially helps highlight the importance of enterprise, entrepreneurial thinking and business acumen of our future engineers – encouraging them to look beyond their technical capabilities.  The prize fund provides students with the additional inspiration; for the University it builds upon the careers and entrepreneurship links with our Science and Engineering Faculty and I am hopeful too of some fresh, innovative solutions for social, economic and environmental change.”

Kate Beresford, Head of Membership and Operation, Enterprise Educators UK commented on the EIBF funding: “Our member universities find enterprise competitions to be a really effective way to inspire students, graduate and postgraduates to consider enterprise and entrepreneurship. But funding can be a massive challenge, so we welcome the Engineers in Business Prize Fund and look forward to seeing a wealth of innovative engineering solutions come forward.”

A TASTE OF ENGINEERING INNOVATION 

The Engineers in Business Prize Fund has already generated fascinating ideas from teams that comprise engineering students, graduates and postgraduates and here are just two:

Lancaster University – The ‘Quench Spike Free Cup’: The top team in Lancaster University’s competition created the ‘Quench Spike Free Cup’ which is designed to alert the owner if their drink has been spiked or tampered with. The plastic cup uses coloured detection strips within plastic cups to warn of this. As first prize winner the team received £1,750 and a business mentor from the Sainsbury Management Fellowship to support them as they move forward to develop the product and test prototypes.   

The remainder of Lancaster University’s £3,000 prize fund went to 2nd prize winner Buddyup; a sports app that would allow users to find sports companions at similar levels of skills and 3rd prize winner Tech Test, a  service where users can test new technology over short trial periods before committing to buy their own devices.

City, University of London: E-Mobility Bike: First prize went to a hybrid sharing bicycle system, called E-Mobility Bike, a lightweight half manual and half electric bicycle designed to make city travel easier, healthier and more accessible. Unicorn Electrics, the team behind it, has already secured pilot locations to trial the system and have used the EIB cash prize to perfect their product.

The incentive of the EIB prize fund has enabled City, University of London to increase the level of participation by engineers in its competition by 114%.

Alex Elkins, Head of Entrepreneurship at the university said: The launch of our EIB competition resulted in an impressive jump in the quality and number of business ideas entered by our engineering students. The EIB support has been instrumental in launching this dedicated award within our broader innovation competition. We are very happy to have had the opportunity to establish this partnership!”

For details on how to apply for an Engineers in Business Prize Fund visit our competitions page or contact us at EngineersinBusiness@smf.org.uk.