Uniglobe Center for Entrepreneurship (UCE), indispensable part of Uniglobe College, is going to pioneer the first ever National Level Business Plan Competition on 13th January 2018. This event plays a role of mediator to bridge the gap between creative ideas and its transformation into feasible goods or services.
One of the prominent reasons of ideas being decayed is lack of platform to unveil those ideas and lack of capital to start up. National Level Business Plan Competition-2018 is an effort to reach to all students all over the Nepal and hear the unheard ideas and furnish them. In this sense, this mega event is an initiation to encourage Nepalese youth to invest their intellectual and physical energy into Nepal. The major objective of this event is to enhance entrepreneurial spirit and aid to turn their ideas into successful start-ups.
Lack of confidence and lack of capital are two major reasons why great business plan does not execute. But every great invention, every innovation was once the failure plans. Therefore, today’s dreamers are the future leaders. Preparing business plan, idea pitching and speaking skills have taken wider space in today’s competitive world. This event helps participants learn the soft skill that is beyond the theoretical knowledge. Presence of distinguished guests, venture capitalists and investors from different fields adds motivation in students.
Students from different diverse background come to a single platform to share diverse business ideas, learn from each other, and to celebrate togetherness setting a perfect benchmark in an entrepreneurial frontier. Both graduates and undergraduates from all over Nepal shall take part in the competition. Every participating team shall pass through two different phases of competition. The first phase will be the qualifier round and the second and the last round will be the final competition. In the first phase, participating teams will be evaluated on the basis of ideas they have. Top 10 finalists will be selected for the final round. 1 month of time period will be given to the finalists for preparation of business plan.
There are certain conditions that should be met by the participants during the event. Team member should consist of 3 members at most. The business plan should be fresh and new. It should not have been presented in any formal competition before. The participants are required to participate through formal organization.
Any participant who is not involved in any organization has to get the approval for participation from the organizing committee.
The participants from outside valley will be provided with accommodation facilities in a well reputed hotel during the competition tenure. Various dimensions like creativity, value proposition and feasibility, among others that are significant to develop business plan hold various value for evaluation. The judging criteria are set without violating any authority. The expert panel of judges from banking, entrepreneurship and marketing field would view the respective aspects while judging.
Any of the interested participants cannot violate the formal procedure like registration and code of conducts. Through such event, we also convey a message to students that plagiarism is against ethical code while writing a business plan.
Each of the participating team has equal opportunity to earn the various title of winner. In appreciation of participation from all the students, certificates shall be distributed. The competition will have a grand closing ceremony with press conference and distribution of prizes to the winners, and helps in socialization among the participations. Out of total cash prize of Rs 100,000 winner gets Rs. 50,000 followed by Rs 30,000 and Rs 20,000 to the first and second runner-up, respectively. This is awarded to encourage students to move forward from ideation stage to the formal start-ups.
National Level Business Plan Competition- 2018 provides all the participants a lifetime opportunity to experience national level platform to present their ideas. Furthermore, the appearance of venture capitalist on the final day makes the event more meaningful as investment-worthy ideas have possibility to be financed. Participating teams from inside and outside valley should follow the registration procedure where registration is open till November 17, 2017. The registration fee is Rs 5,000 per team and the amount can be deposited into Nepal Merchant Bank (NMB) Ltd.
Every great invention begins with a dreamer. So, this competition invites all the valuable ideas to get unveiled. Ultimately, Nepal needs implementation of ideas not just the ideas.