@FLUX500 2011 – An Experience

FLUX 500

A month or so back I entered myself into a miniature competition at the University of Central Lancashire (UCLan) to be part of their team of 6 travelling to Bristol to take part in a Annual competition ran by Working Knowledge, known as FLUX500.

Having been chose to represent the University, myself and 5 others travelled to Bristol, the location for this years Flux. Here is a rough account of my experience there.

What is FLUX500?

Well, in Working Knowledge own words:

In a nutshell, teams of six spend 36 hours solving real business problems with experts from some of the UK’s most dynamic companies, judging them in Apprentice meets Dragon’s Den-style pitches and challenges. FLUX is a fantastic, fast-paced and fun and is open to all who would like to challenge themselves and boost their employability skills and meet potential employers.

From someone that has been through it I would only confirm that it is what they say it is.  It’s an intense competition not for the fragile business person.  The experts do take it seriously, and as team UCLan found out at the end of the first day, if your idea isn’t bulletproof, one of the Experts will pick it apart publicly Alan Sugar/Duncan Bannatyne style.  On day One, the groups were split into three streams, with each stream having a winner on day Two who would battle it out for the prize.

What do you get out of it?

MONEY!

Well, not exactly.  The winning team is granted £3000 (that’s £500 each) in cold, hard cash, placed in your hands on announcement of you being the winner.  Winning the FLUX500 looks a little something like this:

Winning @FLUX500

Winning @FLUX500 - A Photograph by Amy Burton

Regardless of win or lose, you take a lot away from the competition. For a start there is the business knowledge.  Over the course of the 2 day competition you spend a lot of team developing a business plan, planned out visually using a game known as Xing.

Xing - Visual Business Planning @FLUX500

Xing - Visual Business Planning @FLUX500 - A Photograph by John Walker

As well as the business planning at the end of day one there is networking with the Experts and other Universities taking part in the competition.  This year there was around 35 Universities taking part and senior members of companies mingling in:

Networking @FLUX500

Networking @FLUX500 - A Photograph by Amy Burton

On Day 2 the business experts are sent out into the teams for 15 minutes, where the teams have to go and quickly pitch their ideas to try and get tokens, there was a miniature prize of a box of Roses this year for the winning team from each Stream.  This was a cut throat experience as time was short, with some teams really taking their time with each of the Experts there was a battle to get your palm into the Experts hand for that winning handshake to get their attention away from other Groups.

That’s all The Apprentice, but where does Dragon’s Den come in?

The Dragon’s den part comes in near the end of day Two.  After a series of meeting with experts to get some last minute advice on your idea you have to do a pitch in the style of Dragon’s Den to a panel of Experts, and they take it seriously!

Each member of the panel will be a leading business expert in their field, and will put your business plan under much scrutiny, attacking your finances, your marketing and even the concept itself, probing for a weakness.

Following this while the experts assemble to grade everyone and decide on a winning team from each Stream, everyone is presented a challenge which they have 45 Minutes to prepare, to do another presentation should they be the winning team from their Stream.

This years challenge was to achieve similar results as promised during the first Presentation, but with your budget slashed in half.  This time the presentation had to be delivered to all the students as well as four more experts.  But this time you had to win over the crowd, not the experts.

Summary -Approximate

Day One

Sign In – 1pm

Introduction – 2pm

Business Planning with Xing – 2:30pm

Round Up and Summary of Day Two – 6pm

Networking with Experts and Students – 6:15pm

Day Two

Introduction to Day 2 – 8:45am

Preparing for Sales Pitching – 9am

Sales Pitching – 9:30am

Sales Winners – 9:45am

Meetings with Experts – 1pm

Prepare for Presentation – 2pm

Stream Presentations – 3pm

Final Challenge Preparation – 4:30pm

Stream Winners Announced – 5:15pm

Final Challenge – 5:30pm

Vote for Winner – 6:00pm

Winners Announced – 6:30pm

Afterparty/Networking – 8:00pm

Did you go? Would you like to? Let me know!

Leave a comment below and let me know about your FLUX500 experience, or if you would like to attend next year.  A BIG congratulations to this years winners the University of the West of England (UWE).

My Name Card @FLUX500

My Name Card @FLUX500

Thank You!

Firstly, I would like to say thank you to James Lott and the Working knowledge team, as well as the various Experts from Experian and all the other companies that took part.

I would also like to thank Anthony Camm of ACC Media who was the “Champion” AKA Chaperone for the UCLan team and kept us working in a team when times got tough and made sure we were out of bed for the competition each morning (in theory).

Lastly I would just like to say a big thanks to the rest of the UCLan Team, Tony, Stacey, Amy and the two Emma’s, we may not have won this time but I think we all learned a lot from it, and hopefully some of us will be back next year to lay hands on the cash!

UCLan Team @FLUX500

UCLan Team @FLUX500 - A Photograph by Anthony Camm

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s