NCGE-Kauffman Entrepreneurship Fellowship (NKEF) Application tips

The 'NCGE-Kauffman Entrepreneurship Fellowship 2007' application is now open here. Apart from the stupidly long name this fellowship has given me more opportunities in 5 months than I have had in the last 24 years. Plus its been a huge amount of fun. So thought I would offer some thoughts on what you need to do I think will help.

The selection is in 2 stages: Application and Interview.

The application last year had to be about 3,000 words. So prepare it carefully before writing it up on the internet, have it checked by as many people as you can. The focus of the application should be on the following:

• Entrepreneurship, leadership, business
• these words mean nothing unless you can give examples showing how they apply to you
• A solid technology based business idea
• You don't necessarily have to have a technology/engineering background but it helps
• the most popular degree out of this years Fellowship is 'Product Design' because their final year projects focused on a real world need and product
• Extra marks for having a patent/ actively pursuing the idea but this is not essential
• The business plan and the customer is more important than the idea itself
• The unfortunate problem for most of us Engineers out there is that we like 'cool gadgets' thats not what the fellowship is about, its about a real business which means a customer and a market. This is most important. Whats the need the product is filling? whose need? why will they buy?
• You
• Your enthusiasm
  
• Your desire to want to start a business
• Again give solid examples of your experiences in the past
• How you're going to spread entrepreneurship when arriving back in the UK
• At you university etc.
• This was one of Gordon Browne's hopes for the Fellowship

Interview
The interview is split into 2 parts, Q&A and 10 minute presentation.
The presentation is you only, no powerpoint. Make sure you can give the presentation without referring to notes. Some people like to memorize talks word for word; I like to memorize the main points and talk conversationally. Whatever works for you. Pratice normally works for everyone.

The Q&A session will test what you really know about leadership and business (at least it did for me). Knowing isn't the most important thing - although it helps. How you respond and compose yourself is most important. One word of warning Ian Robertson, a former serial entrepreneur and Director of the NCGE is very concerned that you know who the customer for your product is be sure you have worked this out!

And good luck!!

p.s. the profile an average Fellow this year was:
Male, 25, Degree and above in Engineering or Product Design, a prototype of their idea,

Saying that I don't fall into any of those categories (except male ;o)

I think if you're female and have a great idea then you should definitely apply for the fellowship. NCGE and Kauffman are eager to bring on females to the scheme. (And the 16 boys this year would have been equally eager ;o)