What's Your Big Idea £5000 first prize unlocked by property tech business SafeKey

A property tech concept by a Middlesex MBA student and a cold energy storage system to cool data centres have won top prizes at What’s Your Big Idea, Middlesex’s annual business pitching competition in partnership with Barnet Council and Barnet & Southgate College

There were 81 entries to this year’s contest, generously supported by Santander Universities, Barnet Council and Brent Cross Shopping Centre with the aim of developing an entrepreneurial culture among Barnet residents and students.

Participants vying for a share of the £20,000 award fund went through three stages – applying with a 90 second video clip outlining the problem their business idea addresses and the solution they offer; a series of masterclasses and mentoring sessions with industry experts; and another round of video pitching to narrow down to six finalists.

Listening to contenders’ in-person pitches and fielding them probing questions at the final on Friday 13th June were Ben Martin, MD of secure online data storage and delivery firm Safe4 and Education Chair of the Worshipful Company of Entrepreneurs; Michael Cheung, Net Zero and Business Advisor for start-up support company Wenta; and Rebeca Najmias, a MDX Digital Marketing MSc alumna and founder of matcha green tea suppliers Matcha Oishii, who was London winner of the 2023 MDXcelerator, a predecessor competition to What’s Your Big Idea.

With teams pitching propositions for the medical, property, retail and data facilities sectors, the judges were tasked with assessing whether founders had the potential to bring their businesses to life, against criteria such as identifying target audience, product offering and financial modelling.

Points were awarded on the basis of whether the businesses were solving a genuine problem, if they showed evidence of research, feedback, or early traction, and if they were clear about how they’d use the prize money and how that would accelerate their progress.

The £5,000 first prize in the category of student businesses went to SafeKey: a service to circumvent the stress of getting locked out of one's home by offering rapid replacement key delivery for a monthly fee.

The company, providing a secure and convenient alternative to traditional locksmiths, was co-founded by current MDX MBA student Simon Church.

Simon said the idea for the business came about after his girlfriend was locked out of her flat twice in a week, with one locksmith charging her £800 for a single visit.

“We’re solving an issue where people are regularly extorted in a vulnerable situation,” he said.

“We don’t want to make it too expensive. We want to make it an affordable peace of mind product, where you hope you don’t have to use it”.

Simon, who is 39, enrolled on the Executive MBA at Middlesex as a chance to upskill and branch out after a solid career in Wealth Management sales.

Having started but never completed undergraduate studies he felt some trepidation about going back to the classroom, but found it “achievable” and through his hard work and application is on course for a Distinction.

“The fundamental opportunity it’s given me is space and time to consider what my next move is in life,” he said.

First prize in the Barnet resident category, also for £5000, was awarded to ClathriX, which is developing a energy storage solution to overhaul the cooling of data centres by using energy-absorbing phase change material technology.

ClathriX co-founder and Chief Technical Officer, ex-Dyson engineer and energy analyst Ali Izadi, gave a presentation about how the company's system design would lead to significant reductions in energy consumption, cooling costs, water usage and carbon emissions.

"What's Your Big Idea has been incredibly valuable for me personally and for ClathriX as a business," said Ali. "The process has really helped me sharpen how I communicate technical concepts in a clear and engaging way. It also pushed me to refine ClathriX’s value proposition and business model.

"The networking opportunities have been excellent. Winning first prize has further strengthened my confidence that ClathriX can make a meaningful contribution to energy efficiency and decarbonisation.

"Thank you again to Middlesex and the organisers for running such a supportive and inspiring programme".

Second prize of £3000 in the student category went to Red Squadron, a business set up by MDX Film graduates offering pay-as-you-go, cinema quality content creation for small businesses and creatives, a low cost and more flexible alternative to hiring a social media manager.

Third prize for student participants was awarded to pre-medical consultation tool Auriv MedAI, which aims to streamline patient information collection, reduce consultation time and improve the accuracy of diagnoses.

Launching the event, MDX Vice-Chancellor Shân Wareing, who as an undergraduate thought about going down the start-up route herself, said: “I can remember the excitement of thinking I was going to start my own business, and that I would own it and there was this space.

"We absolutely need people with the kind of courage and the innovation and the desire to make a place for yourself in the world. Anybody who got this far has got something going for them, regardless of what happens for the rest of the afternoon. 

“We will all benefit ultimately from the economic benefits that you bring through your creativity, but we all learn from you as well”. She talked about the stimulus for enterprise from the variety of cultures and traditions in the world, as found in concentrated form at a university.

Attending on behalf of the council, Barnet small business champion Cllr Ernest Ambe hailed MDX as a trusted partner on Barnet’s business ecosystem, the “cornerstone of the effort to make sure small businesses are heard, supported… connected with new ideas and given the right to succeed”.

From the judging panel, Ben Martin said: "The standard of the pitches was very high, with two presentations particularly outstanding. 

"All of the candidates had prepared well and were able to answer questions from the judges. The visual presentations were all well delivered. Typically for such events, the students had not been able to address all the specific details, but the level of detail offered on the day was impressive.

"I look forward to working more closely with Middlesex in their endeavours to encourage a spirit of entrepreneurship among their student body".

Middlesex alumna Rebeca Najmias said that being a judge for the competition was "an incredibly rewarding experience. As an entrepreneur, I understand the courage it takes to present an idea and open it up to feedback.

"I was genuinely impressed by the level of creativity, thoughtfulness, and potential in the projects. Many of the participants were not just solving problems. They were thinking critically about impact, community, and sustainability. I judged with both a business mindset and a creative lens, looking for ideas that showed not just innovation, but heart and long-term vision".

Michael Cheung said: “It was a great and well organised day. I'm glad I met my fellow panellists, who were able to bring in their area of expertise to help on the day.

"There was the right balance of innovation and proven business concepts in the final. Some great and well-prepared presentations as well as styles - although I wish I could have given everybody first prize. Judging by the calibre of the finalists, they should be well-equipped for the future".

Neil Churchill, Destination Director at What's Your Big Idea sponsor Brent Cross said: “We are proud to be at the heart of the Barnet community, and delighted to support What’s Your Big Idea, a brilliant initiative that champions local talent and ambition.

"Investing in entrepreneurship and employability is not only about building businesses; it’s about building futures. We believe in empowering young people and new entrepreneurs with the tools, confidence and funding they need to thrive, and we’re excited to see the incredible ideas that emerge from this programme.”