Objective:
- To introduce students to different entrepreneurial contexts linked to mathematics.
- To develop an understanding of mathematics-related business models and their real-world applications.
- To enhance students' ability to articulate and pitch a mathematics-related business idea.
- To encourage students to reflect on how their mathematical skills can translate into entrepreneurial opportunities.
Overview:
This activity introduces mathematics students to entrepreneurship by linking mathematics to business applications. Through interactive workshops, students explore potential business models, develop their own maths-related business ideas and refine their communication skills through pitching. The session is designed to build confidence and awareness of how mathematical skills can contribute to launching entrepreneurial ventures.
Activity:
Session 1: Introduction to Business Models and Mathematics in Entrepreneurship (60-90 minutes)
- Introduction to key entrepreneurship concepts, mathematics-related business solutions and examples of mathematics-related ventures.
- A mathematics-related business solution can be described as a strategy, tool or system that uses mathematical principles, models or techniques to solve real-world business problems, improve decision-making or optimise operations. For example, using a dynamic pricing algorithm for commerce. An online retailer could use a mathematical optimisation model. This would involve dynamic pricing algorithms based on machine learning and regression analysis to adjust product prices in real time.
- Students attend a workshop on the business model canvas (BMC) and review case studies of successful Brunel alumni entrepreneurs who have founded ventures that are related to their mathematics degree (e.g., financial modelling, data analytics, actuarial science). Brunel-specific example: Nivaura, a Fintech company (now acquired) founded by Brunel alumnus, Vic Arulchandran. Nivaura specialised in automating the issuance of financial instruments in primary capital markets.
- Additional examples:
- Featurespace, a Cambridge University spin-out, Featurespace applies mathematical principles to analyse datasets, focusing on financial services to detect and prevent fraudulent activities. https://www.featurespace.com/
- Matricis.ai Co-founded by Elise Mekkaoui, a Sorbonne University Mathematics graduate. Utilising artificial intelligence to enhance the diagnosis of endometriosis through advanced MRI analysis. https://matricis.ai/
- How it works:
- Small groups complete a BMC for a given mathematical business example to develop their familiarity with the tool.
- Group and whole group reflection and discussion on how different mathematical models apply to different industries.
Session 2: Pitching and Communication Workshop (60-90 minutes)
- Students explore key elements of an effective pitch with an emphasis on presenting data-driven insights.
- Examples of successful pitches from well-known startups and innovations are shared.
- Students brainstorm their own business ideas linked to their mathematical skills and academic background.
- Initial pitch development exercise in small groups.
Exercise 1: 5-Slide Business Model Presentation (Independent Task, 2-3 hours)
Students create a 5-slide presentation on a mathematics-related business idea they’ve identified. This is a simplified version of a full investor pitch deck, designed to make the task more manageable for students who are new to entrepreneurship. The structure is intentionally scaffolded to build confidence and focus on the essentials.
It must include:
- A compelling problem statement highlighting a challenge.
- Their proposed mathematics-related business solution.
- Market opportunity and target audience.
- A completed Business Model Canvas.
- An ask (funding, resources, mentorship).
Students upload their presentations, receiving instructor feedback.
Exercise 2: 1-Minute Elevator Pitch (Independent Task, 1 hour)
- Students refine their business idea into a concise, compelling 1-minute pitch, ensuring clarity.
- Key elements to include:
- Problem and solution.
- Market opportunity and unique selling point.
- Business model and revenue generation.
- A clear and confident 'ask' (e.g., funding, collaboration).
- Students record and upload their pitches, receiving instructor feedback.
- Feedback pointers:
- Is the problem clear and relatable?
- Does the pitch explain how the idea is different?
- Is the ask specific and confident?
- Keep it simple, natural and avoid jargon.
Skill Development:
- Mathematics-related problem-solving and critical thinking.
- Business modelling and strategic planning.
- Effective communication ideas.
- Self-reflection on career pathways in mathematics-driven entrepreneurship.
Resources:
- Business Model Canvas Template Example
Strategyzer. (n.d.). Business Model Canvas.
https://www.strategyzer.com/library/the-business-model-canvas - Pitch Deck Template Example
Y Combinator. (n.d.). How to build your seed round pitch deck. YC Startup Library.
https://www.ycombinator.com/library/2u-how-to-build-your-seed-round-pitch-deck - Sample pitch videos
Lauren Bell, Cosi Care Santander Universities Competition 2019. https://www.youtube.com/watch?v=389Ko6lT7Vc