Tag ‘Business Navigator’
The European Enterprise Promotion Awards (EEPA) are looking for the next set of inspiring projects that support entrepreneurs and the entrepreneurship ecosystem across Europe. Every year there are hundreds of applications from across the participating countries, so how can you make your application stand out? What will catch your National Coordinator’s eye? What will draw the attention of the prestigious EEPA jury?
Promoting Enterprise has collated advice from both past winners on what they did to prepare their applications, and from past and present EEPA Jury members on what made projects stand out for them.
Making your application stand out
Ensuring that your application is unique and stands out amongst all the other strong projects it will be competing against is key to getting noticed by both your National Coordinator and later the EEPA jury. Being unique is important and can even lead to a Grand Jury Prize win.
“One of the main reasons behind our win was that we presented a new proposition (i.e. festivals as testing grounds for innovators) to add to the entrepreneurial ecosystem.”
- Innofest – Grand Jury Prize Winner 2017
EEPA jurors in particular want to see unusual and innovative projects that creative contribute to the overall entrepreneurial ecosystem.
“In my opinion, the most important characteristic for a project to be special is that it is innovative. It has to bring something new and show creativity.”
- Jesús Casado Navarro-Rubio – EEPA 2018 juror
“An outstanding project combines innovation and cooperation and supports enterprises throughout their life cycle. It has visible and presentable results and helps to improve the role of entrepreneurs in society or to start up a business.”
- Matthias Tschirf – EEPA 2018 juror
Your application is also a chance to tell your project story and give a full picture of your work, how far you have come and the journey that both you and your project have been on. Including tangible results, lessons learnt and successes will ensure your application is complete and robust.
“When applying it is important to ask yourself if others can replicate what you do. Success is always a combination of vision, strategy, trial and error, lessons learnt and results, so be sure to include your project story and journey.”
- Business Generator – Investing in Entrepreneurial Skills Winner 2017
Dedicate the necessary time to your application
Previous winners mention the need to take the necessary time when preparing an EEPA application, to not rush and ensure that all necessary supporting documentation is collected with enough time and included in the final application.
“Prepare well! Be aware that it requires quite a lot of work until your documents are “final”, so advice and help from the national body might be very useful, so make the most of it.”
- Internationalisation 2015 – 2020 – Supporting the Internationalisation of Business Winner 2017
“We spent quite some time on the application to make sure that we got all the right and important information filled in.”
- Lean Landing – Grand Jury Prize Winner 2018
For more support with your EEPA 2019 applications be sure to have a look through previous EEPA winner testimonials for their advice and success stories and contact your National Coordinators for specific country information on your national EEPA competition.
Back in 2017, the project “Business Generator” from Sweden, won the EEPA Category “Investing in entrepreneurial skills” for their work in identifying the gap in the strategic management process for SME companies, as well as a way to reach SMEs and provide them with useful skills for their daily lives as entrepreneurs.
After initial struggles to keep the Business Generator going after the EEPA competition, this project, and specifically coordinator Anette Rhudin, are back with a brand new and improved ‘Navigator Scale-up’. The Navigator serves as a support for SMEs that need to have a board under Swedish law. Due to financial constraints it is normally a challenge for SMEs and entrepreneurs to have an external board not made up of family and friends, and thus miss the chance, to have that input, that the right matched, external competence can give. Having a competent board can help avoid bankruptcy, develop necessary company procedures and aid in the overall management of the SME.
Through the Navigator SMEs can be matched with externals that serve as a board or ‘navigators’, without taking away control from the SME. The Navigator is a particularly good option for SMEs looking to scale up, as the externals are there to coach, ask critical questions and offer guidance based on their extensive experience. Through their experience, external board members are able to make SMEs aware of ‘hazards’ and guide them so as to avoid expensive failures.
Positive changes can only happen in a safe environment, which is why a Navigator’s primary task is help the entrepreneur navigate a changeable environment and give them enough control to feel safe and be able to scale up their company. One of the crucial success factors in the Business Generator project was that the four external navigator members had all gone on their own scalable business journeys. Being able to understand the current entrepreneur’s experience enables externals to truly coach and give the best advice to the SME they are assisting.
The Navigator has already been helping several SMEs, specifically OptiPack, an SME in a typical small Swedish village which started last year. Optipack began with four young people who had no experience of owning a company and who required a bank loan to get started. In order to qualify for a loan they needed an external board with experienced members, which is where Business Navigator came in to help. After being assigned a Navigator team they began to advance, thanks to the collective experience of their external board members who between them are experienced businesspeople and own large international companies.
Thanks to help from their Navigator, Optipack were able to invest EUR 2 428 882 in their latest product and continue working and developing.
Optipak are a successful example of what a Navigator can do for an SME, and we hope to keep coming back with more success stories as the Business Navigator gets bigger and spreads its message, support and advocacy for SMEs.