An enterprising student from Nottingham Trent University impressed a Dragons’ Den style panel to win investment for his foldable gym equipment.
Andrew Marshall pitched his business Compact Gyms Ltd to a panel of investor ‘Dragons’, successfully securing a £250 investment.
The 24-year-old from Oakham in Rutland, started his business in response to the rising costs of gym membership paired with the limited space in his student apartment.
His first product, a free-standing pull up bar, allows exercise with gym standard equipment, but with the added ease of storage to be used in the home.
Andrew, who studies BA (Hons) Business Management and Entrepreneurship, has been developing his product ideas and business plan with support from staff at The Hive – the university’s centre for enterprise and entrepreneurship.
He said: “It was brilliant to receive the investment, it will go towards my prototyping budget and help me get the product ready for market. It is also a huge confidence boost to know that an investor believes in me and the product.
“For my range of products storability is key because it opens up a new underserved section of the market. They are ideal for people with limited space but who want to exercise in the comfort of their own home.”
Competing against entrepreneurs at 11 other universities, the event: ‘Innovating Future Business 2017’ run by University Alliance, brought together emerging enterprises from a range of industries including adventure holidays in Uganda, medical applications and online cosmetics.
Phil Clarke, Enterprise Advisor at The Hive, Nottingham Trent University, said: “Andrew has been on placement with us at The Hive for the past year developing his business idea. We put him forward for this competition and I’m thrilled to see that the hard work he put into his pitch has paid off with an investment.”
The Hive welcomes anyone who has a business idea from the local community to access support alongside students and staff of the university.