CBS students win twice in start-up idea competition

All News, Faculty, Inside CBS   -  16. November 2018

Starting your own start-up during or after your studies is a big challenge. How attractive is your first business idea compared to other ideas – and how can you find out without taking risks? Every year, students and graduates of Cologne universities such as the CBS have the opportunity to submit their business idea to the “Ideenwettbewerb der Kölner Hochschulen” (Ideas Competition of Cologne Universities) of hgnc e.V., the hochschulgründernetz cologne (University Start-up Network Cologne), and have it evaluated by professionals.

At the 2018 awards ceremony on October 30th, 2018, two of the seven prizes went to teams with a CBS background: second place, endowed with 500 EUR in start-up capital, went to the “Compounder” idea, in which the CBS Bachelor students Evelyn Wagner and Paula Vorbeck are involved. Both are studying International Business. The compounder idea means offering a platform for prospective students to find the perfect course of studies to suit their own strengths and the ideal university. “What’s special about the ideas competition is that only a three-page idea sketch is required for submission; your own idea doesn’t have to be full-developed yet,” says Evelyn Wagner.

The fourth place went to the “U-LYB” project – one half of the founder duo is Lea Matschke, who received her Bachelor’s degree in International Business in 2016 at the Cologne Business School. U-LYB wants to offer custom-made underwear such as bras whose cut is determined by a 3D body scan via smartphone. “My studies at CBS have sharpened my focus on understanding markets and market gaps,” says Lea Matschke.

The awards were presented by Dr. Sameer Joshi, Managing Director of hgnc e.v. and Professor of Strategic Management at CBS. “I am very pleased that our research and teaching enables our students and alumni to develop exciting start-up ideas,” says Dr. Sameer Joshi.

From ideas to start-ups
The award ceremony of the ideas competition took place as part of a networking event of the NUK in Cologne’s Mediapark. In order to turn ideas into real start-ups, hgnc e.V. cooperates with the association NUK Neues Unternehmertum Rheinland e. V. (NUK  New Entrepreneurship Rhineland). NUK offers founders access to a large knowledge network, targeted support and a high-value-prize business plan competition.

Photos: Caroline Jungen

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