Enterprising students face a grilling from business experts this month in the Fox’s Lair, a unique degree course assessment at De Montfort University (DMU).

Almost 400 first years studying DMU’s New Business Creation module will enter the Lair to pitch their ideas for an innovative product or service.

Their ideas range from a Pink Pages directory for women’s interests to a combined ID and payment top-up card that avoids the need to carry cash.

A panel of ‘Foxes’ will quiz each team of students and judge their ideas. Panels comprise both external business leaders and experts from DMU’s Leicester Business School and Innovation Centre.

More than 30 professionals have volunteered their time to sit on the panel rota. They include entrepreneurs and senior managers from companies including Habitat and Leicester-based businesses Pukka Pies and Checkprint Ltd.

Each student team presents their idea, aiming to convince the panel that it can be a commercial success in order to gain business advice and secure hypothetical investment.

Edwina Goodwin, Senior Lecturer in Enterprise at DMU, said: “The Fox’s Lair is much more than an assignment, it gives students hands-on experience of the challenges and rewards of starting a business and a unique opportunity to learn from inspirational role models.

“In addition to business knowledge, it helps students develop confidence, team-working and creative thinking, all skills that are valued by employers and support the drive to increase innovation in the UK.”

The 80 student teams have been developing their ideas since October, researching products, markets and competitors and developing business plans and marketing strategies.

Students are assessed on a range of criteria including feasibility, delivery, creativity and business awareness. They also submit a written report.

The Fox’s Lair runs from Monday 14 April to Friday 25 April at DMU’s Innovation Centre in Leicester. Prizes for the best teams will be awarded to students at a ceremony in May.