Student Enterprise awarded in European competition
The VibraTools team:
(F.l:) Bjørnar Øvrelid, Pål Seljeset, Erlend Kvalsund and Svein Even Blakstad
Norway did great this year's European Championship (EC) for Student Enterprises. The Norwegian champions from Aalesund University College, VibraTools, were runner up in the competition to become Europe's best Student Enterprise. The company impressed the jury and visitors with its tools for plaster walls industry.
In all, 13 companies participated from 11 countries in the two-day competition. The event took place in Denmark and in the premises to Grundfos in Bjerringbro. Students presented their ideas in English and competed to convince that they are the most viable business. The jury was composed of international members from European business trade.
Strong both national and international
Vibra Tools won three awards in the Norwegian championship;
Innovation Award in cooperation with Innovation Norway,
Nordea Award for best business plan,
and the Award for the best Student Enterprise.
This was their ticket to the European fare. Their vision is to change masonry work by developing tools that would both save time, money, and improve working conditions for each, individual worker.
In the jury's reason they emphasized that this is an innovative product with no clear competitors. The product has a large growth potential in a professional market with high solvent. Using the network and good partners-the winners have developed a product with a large international market potential. Student Enterprise has been given a stipend by Innovation Norway and is now in the process of establishing an independent company.
Under the Norwegian fare 360Innovator from Telemark University College won the FERD price - for the greatest international potential - which was their ticket to the EC. Their idea is a new type of payment card, which will streamline the payment process and reduce the possibility of credit card fraud. 360Innovator from Telemark University College won the prize that is awarded to the student company with the most innovative product or service.
The CEO of Young Enterprise, Jarle Tømmerbrekke states the following: - We are really excited to have students like the team of VibraTools SB, and we are excited to have schools like Aalesund University College. The combination of the two; good students and engaged university colleges, is entrepreneurship at its best. I wish we had such innovation environments at more university colleges and other schools! The students has proved that hard work pays of. It has probably been the most educational year of their education, and they have really been challenged in the business world. VibraTools has impressed many with the professional attitudes, but also for the quality of the product. Their will and way to work hard has previously been claimed by the jury at the Norwegian fare, and I think it is one of the most important attributes in their future career. It will be exciting to follow them in the years to come, and I wish them all the best with making an independent enterprise!
Pleased with the results
- We had seven months to develop our business, while some of our competitors had up to 2.5 years. We are very happy satisfied, says CEO Svein Even Blakstad. Their goal is to secure 10% of the market for the masonry tools in Europe within five years.
This is the second year Aalesund University College participates in the European Championship, and in 2008 we were awarded second place as well.
More about Young Enterprise Norway , JA-YE and the fare
