Business

Enterprising students meet graduate entrepreneurs

Published 10 December 2009

Successful graduate entrepreneurs returned to the university to speak about their ventures to current students and staff as part of Global Enterprise Week.

The entrepreneurs had real-life advice for enterprising students who might be thinking of setting up their own ventures.

Stevi Jalbart and Emma Sandham-King set up 'Ophelia Fancy' in 2005 and now sell up-market lingerie and evening wear to 35 independent shops and they have a client list that includes Fern Britton and Paris Hilton. The business started on the floor of Stevi's tiny flat after the two fashion students found they had fabric left over from their final collections.

They invested £40 in lace and trimmings and produced a small collection of underwear to sell at Portobello Road market. "We were really scared about spending £40 in case we didn't get our money back, but we made a killing," said Emma.

"We split our collections based on four different target markets. It took us three years to work this out but now that we have a formula, we stick to it because we know it works. Also, we pay great attention to our brand image – our website and printing. It's even more important than the sewing part that we learned at uni'," said Stevi.

The entrepreneurs advised the students: "Grow your business organically. Be prepared to do everything yourselves at first and don't take big loans."

Stevi said: "It really annoys me when people say 'oh aren't you lucky being your own boss and having such a fun business'. I think no, we've earned it! They didn't see us when we had to stand around in the cold and the wet behind market stalls, the sitting on the floor working all night, and the hours and hours spent worrying."

After setting up a successful language exchange website Huitalk and having worked as managing director of a hand tool company for three years, Ben Wilding is now establishing a digital media company. But in his words, it won’t be the "Shoreditch front-end creative stuff". He plans to offer the more complex facets of web design such as site add-ons and migrations which are highly technical and specialised.

Ben's told students: "Find out what you are good at and drill it right down until you have the most niche version possible, and then aim to be the best at that very thing."

"It's about taking the time to find the one thing you are really passionate about or it won't stick." He stressed the need for thorough research and to "talk to both potential clients and business people who are already operating in that market – competitors love to boast and will tell you all sorts of things. But remember to take it with a pinch of salt!"

Edward Kipngeno is helping communities in Africa by providing recycled computer equipment and skills through his charity IT Skills for Rural Kenya.

Edward recounted how he had taken computers to a community centre in a Kenyan village only to find it had no electricity. But he used his knowledge of politics, his tenacity and good connections to get to Westminster and meet the politicians who were able to influence the procurement of an electricity supply for the village.

Edward’s advised students: "If you know you have a good idea, be passionate. And once the changes start to happen, people welcome you with open arms – that's very motivating."

"Everyone thinks Africa needs water and pens. But this is the 21st century and rural Africans need 21st century tools to get the information they need to help themselves."

The audience also heard from Steven Britt, inventor of a retro-fit powered pedal for use by cyclists to make commuting by bicycle quicker and easier. He explained about the importance of prototypes and asked the students to consider the pros and cons of manufacture versus licensing.

Brad Crescenzo, enterprise officer for Beepurple, said the 'Reality Cheque' event proved "an inspiring evening, which we enjoyed as much as the students."