Atomic win for Polyatomic!
In 2006 later year engineering students from the Department of Engineering got to put their business skills to the test as they participated in the Young Achievement Australia program. Students formed small teams of 15 members to launch a company, develop a business plan, design and sell a product, sell shares in the company, and finally liquidate the company to return profits to the shareholders. Members of Canberra's business community mentor the teams throughout the program.
Professor Mick Cardew-Hall, Head of Engineering, included the venture in the engineering program as part of students' engineering management studies.
"Being part of YAA helps students to gain good experience in creating a company and they learn other business skills by being exposed to the sorts of strategies, business people, and business principles that they will need if they intend setting up business on their own," he said.
One team, named Polyatomic, created the 2007 'Ninja's Guide to Canberra' calendar. The team sold all 1000 calendars manufactured and returned $11 on an initial $2 share to shareholders.
Topping off a stellar four months, members from the Polyatomic team attended the annual Young Achievement Australia awards night at the Sofitel Wentworth Sydney in late December. They took home the coveted JP Morgan Tertiary Company of the Year award, beating all other university teams across Australia.
More than 300 people were present at the dinner, with Channel Ten's Bill Woods from Sports Tonight chairing the evening. This award was on top of the success Polyatomic had already gained a few weeks prior by winning both the ACT Tertiary Company of the Year and ACT Environmental Plan Awards.
"Criteria for this prestigious award was based on Polyatomic's operations as a whole, in particular the business plan and annual report, share return and quality of product," says Craig Gibbons, Polyatomic team member.
"We had a lot of interest from the public and the local media throughout Polyatomic's lifetime," he said.
"More than anything else, the program demonstrated that engineers are not only technically capable, but also have a keen eye for business."
The team thanked Professor Richards, Dean and Director of the College, for his support in getting the team to the awards ceremony.
