Previous Young Entrepreneurs Challenge Winner Jamie Bankhead talks to us about his experience entering the challenge, and his success and challenges afterwards.
As we, and our partner Verizon, gear up for the Grand Final of this year’s Young Entrepreneurs Challenge we were keen to touch base with our previous winners, and see how their goals and ambitions are going since their successful win.
In 2019 Jamie Bankhead from Dundee was our Challenge Winner, and following the competition used Unloc’s support, and the Challenge funding and connectivity provided by Verizon to launch his company Konglomerate Games, a socially aware business specialising in gamified experiences to improve the health and wellbeing of children with long term illnesses.
Jamie won £10,000 of funding, a mentorship package and a technology bundle to help get his business off the ground.
Thanks for talking to us today Jamie! Tell us how you found being a part of the Young Entrepreneurs Challenge?
“I really enjoyed being a part of the Young Entrepreneurs Challenge. Compared to many other competitions out there the process was very streamlined, and involved a short and easily understandable application which really helped lower the stress for the submission. The event was also well organised and lots of fun to be a part of!”
Did you think you had a good chance of winning when you entered?
“No, not at all. The competition was really strong, and watching the other finalists pitch showed me just how close and competitive it would be, I know the judges must have had an extremely tough time deciding on a winner.”
How did you feel on the night of the final?
“Initially nervous as I was pitching in front of a large audience and a very respected panel, but with the kind of competition that are usually in finals like these, I knew that all I could really do is relax and pitch our company the best I could and try and enjoy it.”
How did you feel when they called out your name as the winner?
“Honestly it was a massive surprise – which was fantastic! It was really unexpected as I felt some of the other pitches were great and their companies might have been further along than ours at the time, so it was definitely a shock but a great one.”
Has entering the Young Entrepreneurs Challenge helped you?
“Winning the competition gave us a great boost of confidence to apply for other competitions and grants, and being able to say that we have already been through and won a competition provided some publicity and validation of our business and what we’re seeking to achieve. The funding allowed us to accelerate our time line and go into full time earlier, it was vital to get us up and running. Unloc have given us great business help and advice and made us feel really supported, being a part of The Young Entrepreneur’s Challenge has really helped us in achieving our ambitions.”
Have you faced many challenges since the competition?
“I’d say the biggest challenge for us has been not knowing what we don’t know. As we’re relatively new to running a business, most of the time it’s a case of not being aware of things that we should be, so it has been a case of surrounding ourselves with people who have more experience to gain insight and advice.”
How is the business doing?
“We are doing really well! There is currently four of us working full time on various contracts with plans on hiring two more over the next month or two. I’m really excited to see what the rest of the year will bring for us as there are definitely some great things planned.”
What advice would you give to anyone considering entering next year’s challenge?
“Just go for it. The Young Entrepreneurs Challenge is a fantastic experience and really teaches you so much. If you enter – make sure you’re pitching a story. The facts and figures are great to have – to show that there is a need for your business/service, or that you have already begun selling/trading (if you have that’s great) – but it’s the story that sells the idea, and it’s what people buy into.”
“Also don’t worry if you think you are too early to be applying because the worst outcome is that you get experience with applying and pitching and don’t get through – but you might even get some feedback that really helps you or gives insight to what you’re missing, so you should at least apply! You just never know where it’s going to take you.”
Thanks so much for sharing your experience with us Jamie, we can’t wait to see what Konglomerate Games does next, and we’ll be following all your progress!
