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E-Factor competition finds a winner

Tuesday 17 April 2012

E-Factor

The University of East London’s E-Factor competition reached an exciting conclusion at a recent event in East Wintergarden, Canary Wharf.

The event, now in its seventh year, saw UEL students present their business ideas and compete for funding from a panel of four judges, composed of highly influential people in the local banking and business sectors.

Alex Oviawe, currently an MSc Strength and Conditioning student, impressed the panel with his Global Positioning System (GPS) business idea, designed to monitor an athlete’s performance.

As head of his company, Precision Sports Performance Systems, Alex’s design was deemed the best out of five finalists in the Dragon’s Den style contest.

Oviawe describes his device, titled ‘Project Raiden’, as “the first and only low-cost GPS system for team sports”. Speaking at the E-Factor final, Alex said: “"Being on the E-Factor has been such a whirlwind experience. I knew that I would come out as a better entrepreneur due to the experience. The workshops and guest speakers were amazing.

“However, what made the whole experience so worthwhile were the people. The E-Factor is built on amazing people who genuinely care. I always felt the support of the staff throughout, and that's what mattered to me the most".

There was an extra twist to the event, as runner-up contenders, Stitch Up London, were awarded £2,000 in a philanthropic gesture from Canary Wharf Group Strategic Advisor, Howard Dawber. The five-person East London-based company specialise in the manufacturing of specialist clothing from recycled materials, as well as encouraging networking and the idea of community.

Howard Dawber, Strategic Advisor at Canary Wharf Group said: "All the finalists have a very big future ahead of them. They demonstrate that the East London community has some of the best entrepreneurial talent around. Canary Wharf Group has for many years championed the development of business and the economy, not only at Canary Wharf, but in the areas around us. These young entrepreneurs are helping to make this part of London one of the most dynamic places in the world right now."

UEL Pro-Vice Chancellor, Selena Bolingbroke said: “We are delighted with the event; not only with the innovation and business skill shown by everyone who participated, but also with Howard Dawber, whose generous contribution will surely be of tremendous assistance to everyone at Stitch Up London.”

Alex Oviawe will receive £6,000 grant funding, a £500 market research report, business mentoring and expert consultancy advice.

Notes to Editors

The University of East London (UEL) is a global learning community with over 28,000 students from over 120 countries world-wide. Our vision is to achieve recognition, both nationally and internationally, as a successful and inclusive regional university proud of its diversity, committed to new modes of learning which focus on students and enhance their employability, and renowned for our contribution to social, cultural and economic development, especially through our research and scholarship. We have a strong track-record in widening participation and working with industry.

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