Student questions answered: what is the Feasibility Study?

QUESTION:

I’m writing with reference to the assessments we need to complete in the Design Thinking module. My question is related to the Feasibility Study. In our Mace Kingston blog, is indicated in brackets “formative assessment, Bright Ideas Competition Entry, 2 December”. Just to clarify, is the Feasibility study the form that we have to complete for the Bright Ideas Competition? If it is not, could you please explain to us a little more about it and the content that should be included. Looking forward to hearing your comments.

ANSWER:
(Please also see the 17 November blog post)

 

FEASIBILITY STUDY = BRIGHT IDEAS COMPETITION entry

Purpose: To determine if your business idea is something that is wanted by your audience, is capable of making a profit and possible to accomplish in the time given. You will submit your feasibility study as your Bright Ideas Entry on 2 December, and present your feasibility study during a Dragon’s Den type presentation to a panel of judges on 9 December. In previous years, teams from this module won £1000s in prize money with this assignment! You will need to:

1) Register and start completing the Bright Ideas form https://beta.younoodle.com/competition/bright_ideas_competition_2016

2) Complete the Bright Ideas form for your team business. This is now your Feasibility Study for your business.

3a) Submit 1 copy of your Feasibility Study to us via StudySpace, under Assignment Drop Box, Feasibility Study Turnitin. Only 1 submission per team is needed. The Turnitin assignment box for the Feasibility Study is now open on StudySpace under Assignment Drop Box. 

3b) Submit 2nd copy of your Feasibility Study for the Bright Ideas Competition, here: https://beta.younoodle.com/competition/bright_ideas_competition_2016

DEADLINE for both 3a and 3b: 2 DECEMBER 2016 by 17:00 (good practice is to try to do it before the deadline…)

4) If you have another idea (not as a team, but as an individual), start another application online and submit your idea to Bright Ideas. You can do it individually with the Startup Weekend ideas and some of MVP ideas! Easy!

5) Present (pitch) your team business idea in our Dragons’ Den on the 9th. Info on the Dragons’ Den will be published this week.

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