Perspectives in Mathematics (MATH30024)
The Practice
Perspectives in Mathematics (MATH30024) includes an option for students to work in small teams to generate and evaluate a business case for a new company based upon a mathematical idea.
Led by Rick Chapman, Entrepreneur in Residence at SETsquared, third year Mathematics students are encouraged to participate in this project that develops employability and entrepreneurial skills whilst recognising the diversity of places that maths is applied and how to communicate this effectively.
In groups of 4-6 the students receive teaching on the key aspects of starting a business, by Rick or other working entrepreneurs, before writing a plan for a fabricated business and presenting this in a “dragons den” style setting. Rick uses his own professional network of working entrepreneurs to deliver expert lecture content and make up the “dragons den” panel. The panel presentation is designed to provide authenticity of pitching but students are assessed on their evaluation of their idea, not the idea itself.
Assessment
The business plans are assessed by Rick and another member of the unit teaching team. The working entrepreneurs provide feedback on the panel presentation which contributes 1-2% of the overall module mark. In addition to this, because of the group work element of the project, students are asked to complete peer assessment which can impact the overall mark. Ten marks are attributed to the maths element of the business, which opens students eyes to where they can use maths in the future. To ensure that students are on the right track, a written business idea is submitted within the first two weeks for formative feedback by Rick and an external entrepreneur.
The Impact
Although currently only running for undergraduate Mathematics students, Rick and SETsquared have run similar tailored project in other Faculties and with PhD students.
Next steps
Some students who have undertaken this project have gone onto start their own business. However, it is not only designed to develop new entrepreneurs. Students often find that after completing the project, they have more – or less – interest in working for a start-up and recognise if they have the skills to thrive in this industry. In the most recent Graduate Outcome survey, 25% of working Mathematics graduates work for a small-to-medium sized enterprise (one with 250 employees or less).
Contact
Please contact Rick Chapman Senior Entrepreneur in Residence at SETsquared (rick.chapman@setsquared.co.uk) with any questions.
