Barbal has supported the University of Bristol to deliver the first project involving the Intrapreneurial Knowledge Exchange Enterprise Pathway (IKEEP).
IKEEP is a new initiative to boost industry by enabling skilled students to take up industry placements and foster growth and development. Launched in February, the Bristol IKEEP Programme is designed for students to engage with industry on knowledge exchange projects as business advisors, developing business model solutions and market awareness whilst enhancing student’s skills as intrapreneurs/change-makers and future employees.
Caroline Graham, UoB’s lead on the IKEEP project explained, “These knowledge exchange opportunities enable regional businesses to develop and grow, while honing the talent of future graduates. As a new initiative, we are working closely with trusted partners who have previously offered quality experiences to our students and we are thrilled Barbal could take part. We are really impressed with what Barbal and the IKEEP students were able to achieve in just 4-weeks.”
Three students from the University of Bristol; Jaime Castiblanques, Magdalena Jezierska and Marianna Goryainova completed a four-week project to outline a business case for Barbal. Their task involved industry, competitor and market analysis. The team also devised an Operations, sales and marketing plan.
The project members prepared a report which identified universities as a prominent addressable market for Barbal’s software. The team outlined Russell Group universities as the ideal customer for Barbal. The reason for this being that Russell Group Universities focus heavily on research, therefore there is a significantly high demand for document editing software. The report findings describe the largest departments utilising document editing tools are STEM, Law and IT. Upon collecting data for their research through interviews and surveys, they found that 90.2% of respondents said they would be willing to use Barbal’s product. When participants were asked about the main advantage of the product, the respondents were impressed with the “ability to draft in private” and “merging files/text with ease”.
Theo, Barbal’s marketing assistant, spoke to the IKEEP project members after they had presented their business plan to Barbal.
What were your thoughts going into the IKEEP project?
Jaime: I was excited and nervous. On the one hand, I really wanted to be challenged and to learn more about management. On the other, I was concerned I did not have the required knowledge to see the project through to completion.
Magdalena: Pure excitement and curiosity. I study Chemistry and have nothing to do with business, marketing, or computer science but I have always found the unknown things the most fascinating.
How was your experience during the project?
Marianna: The experience was great! I really enjoyed working in a team and applying the knowledge from my course. It was great to conduct market research. Hopefully, it would help Barbal to attract new customers!
Jaime: From the beginning, I felt that the three of us were very engaged, and Marianna and Magdalena proved to be ideal teammates. However, there were times where we felt lost or overwhelmed by the lack of information that we had to work around. Thankfully, Tom was always around the corner to help us.
Magdalena: Very positive! I was able to learn about some parts of the mysterious world of business and its various nuances while working with incredibly ambitious and creative individuals, who made the project an intellectually stimulating adventure. The most rewarding part was, without a doubt, being able to see the completed jigsaw puzzle, which in our case had the form of the business plan.
Were there any benefits/limitations of working with a small start-up company?
Jaime: I would say that the biggest advantage was being able to talk to Tom directly, who was the best person to tell us about the company and the product. It also meant that we felt that our job was important and had meaning. However, since Barbal is in an initial phase, it also meant that there were times that there was as much uncertainty on Barbal’s side as there was on ours.
Magdalena: Undeniably, working with a well-established company comes with a richer network of contacts, which can be very handy for some parts of business plan preparation. On a positive note, because our project was carried out within a very short time frame, being able to access so straightforwardly the people behind the company, such as the CEO, was invaluable. It definitely had a very positive impact on the final business plan developed by my team.
Anything else to add?
Marianna: I just wanted to say thank you for the opportunity and wish all the best for Barbal in the future!
Jaime: It was a great experience and I am very grateful for it. All three of us learned a lot and felt supported all the way through.
Tom Bartley, Barbal’s CEO, said “We were blown away by what Marianna, Jaime and Magdalena achieved in the time they were given and with such a fuzzy brief. We have benefited from a number of internship programmes offered by the University of Bristol (as well as other universities) and our membership of the setSquared Bristol accelerator has put us at the front of the queue for top student interns. We wish all the students good luck in completing their studies, they’re all set for stellar careers in their chosen paths.”
Finally, Barbal would like to say a big thank you to Jaime, Marianna, Magdalena, Caroline Graham and the whole team at IKEEP. This project has resulted in a new market opportunity that has been outlined for Barbal to pursue in the future. Their business plan has defined the higher education industry as one of the largest markets that utilise software as a service. Not only has their research outlined a new market prospect for Barbal, their operations, sales and marketing plans have given us a headstart to pursue this market in the future.