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Young Entrepreneurs Challenge Winner Olivia Simpson talks about her Grand Prize Win!
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A few weeks ago we were thrilled to crown 21 year old Olivia Simpson the Winner at our Young Entrepreneurs Challenge Grand Final in collaboration with our wonderful partners Verizon Business.
Held at the impressive new V-Suite in Verizon’s London headquarters, our Grand Final event welcomed all five finalists Evan, Anjali, Olivia, Marion and Idan to pitch their ideas to our panel of industry experts. The event was streamed live through Verizon’s cutting edge technology so that people across Europe (and beyond) could join in the competition as it unfolded.
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It was the toughest final yet! All five finalists delivered exceptional presentations and wowed the room with their business acumen and awareness of important sustainability issues on a global scale. Their ideas and ingenuity were simply astounding, and our judges had an incredibly difficult time choosing an overall winner.
After much deliberation the amazingly impressive Olivia Simpson from was crowned our Grand Prize Winner, taking away a cheque for £10,000, entry to the One Young World Global Summit and a mentorship package.
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Now that Olivia’s had time to catch her breath we caught up with her to hear all about her experience and how it felt to be announced our winner!
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Olivia, once again, huge congratulations on your win, your vision for your business was simply inspiring and will have such far-reaching impact in the medical industry. Have you managed to take it all in yet?
Just about! Honestly it was such a big achievement to me and I am still so ecstatic about it!
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For those who didn’t see the final, give us a brief overview of what your business is and what it does, and where you hope to take it.
My business SymbioTex aims to replace single use plastics in the medical sector. We are working to produce class 1 medical devices (such as inhalers, covid-19 tests and pregnancy tests) that are home compostable- currently these devices are made of non-renewable materials and at the end of their life they go to landfill or incineration creating harmful byproducts such as microplastics.
We aim to licence our patented technology to current medical device manufacturers- to help us get to this point we are working on optimising our formulation, undertaking focus groups and working closely with the NHS.
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So so impressive and shows a huge awareness of the sheer amount of plastics used in the medical industry. How did you prepare for the grand final?
I practised my pitch a lot! In the mirror, to my family. I think even they knew it off by heart by the time the final came around! Our CSO worked very hard with me on the content of the slides and refining our pitch – the science and our business model alone is quite a mouthful to explain.
We worked hard to produce a PowerPoint which allowed the judges and audience to understand both- whilst being straight to the point delivering the facts and sharing our passion!
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When you arrived at the venue on the day, how did you feel and what did you expect?
When I arrived I was mainly excited- being in the final was a huge opportunity for us and our concept. I was not expecting how magnificent the Verizon office would be! Of course I had some nerves but I knew we had a full day of preparation before the pitch!
The Unloc team were incredibly supportive, both on the run up to the day (sorting logistics of transportation, accommodation, and catering) and on the day itself. On the day they spent a lot of time ensuring we were comfortable- we even did a full dress rehearsal!
We got some really helpful key tips and feedback before the final, and even warmed up our vocal chords! I felt so prepared! All the Unloc staff went above and beyond and were incredibly friendly and supportive!
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What did you think of the other finalists and their business ideas?
The judges definitely had a tough choice! The other finalists were all so friendly – it was a pleasure to pitch alongside them! They all had fantastic ideas which I know will go on to make significant impacts in the field of sustainability!
We also all got on really well on the day and have been in touch with each other since! I’m excited to follow their journey too!
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When the big moment came to do your pitch how did you find it?
When it came to presenting my pitch in front of the audience, judges and cameras for the livestream I actually felt really confident! I knew I had put in the preparation for my pitch and I had been uplifted by the Unloc and Verizon team all day – I was ready to show off our hard work!!
Of course there is always the initial 30 seconds that you feel anxious but once you get into your stride it becomes really exciting!
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What did you think of the other finalist’s pitches, did anyone really stand out for their delivery or knowledge?
I still remember key points from all the finalists pitches- that shows the impact they had on me! They all delivered extremely well and were so knowledgeable! Their pitches had me hooked from start to finish (and we had listened to each other’s pitches quite a few times by that point).
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When they called your name as the winner, how did you feel?
I was totally shocked- everyone had impactful businesses with great pitches! All of the finalists’ deserve to be a winner! They all showed passion, and knowledge. I was over the moon with happiness that I won (I even had happy tears!) I was so happy that our work was being recognised!
10) How will you invest the £10,000 prize money?
We will use the money to run extrusion trials to produce enough material to do biodegradation studies with, and enough material to carry out commercial pilots with selected partners.
What would you say to anyone considering entering the next Young Entrepreneurs Challenge?
Don’t just consider! Apply! Never have I felt so empowered at a competition/event by the other finalists and the staff! I thoroughly enjoyed the day!
My top tip would be to get your passion across! All of the finalists get a support package!
You never know the next winner could be you!!
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Olivia thank you so much for catching up with us, you join our Hall of Entrepreneurial Fame with our previous Grand Prize Winners! I have no doubt there are amazing things ahead for both you and Symbiotex – we’ll be watching closely!
