ThirdYearAbroad.com

Language learning is hugely important for the UK's international relations and economic development, but a language degree is considered difficult, expensive and scary, and student numbers for it are dropping. ThirdYearAbroad.com aims to make the process easier and more appealing by providing a platform where students can share their experiences. Users can find out where to live, get financial advice, create their own guidebook to the city they're in, ask questions, read reviews about evening classes and courses abroad - and parents can be reassured by the parent section. Founder Lizzie started the business with her student loan, drawing on her own experiences of a third year abroad. Revenue will come mainly from selling all-inclusive third year abroad insurance policy, a product that is required annually by thousands of UK students. Although the business is very new, it has an impressively clear business model and marketing strategy.

• Making the important process of learning a language easier and more appealing for young people
• Spotted good gap in a big market
• Impressively strong business model and marketing strategy, despite launching only a few weeks ago