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Business Plan Competition 2014

Opening a new avenue to paradigm shift in the state university system, the Department of Commerce and Financial Management in Collaboration with Ministry of Youth affairs and skills Development was at the gateway to yet another mind blowing and remarkable breakthrough, Business Plan Competition 2014, to happen at 09.00 a.m. on the 29th of August 2014 at the ATH Sunil Shanta Memorial Auditorium in the Faculty of Commerce and Management Studies, University of Kelaniya.

The Main objective of this kind of a business Plan Competition is to inculcate Entrepreneurial thinking and to incubate potential Corporate Entrepreneurship among the undergraduates in Sri Lanka. This initiative laid a great platform persuading students in realizing their entrepreneurial conceptions. The event was focused on inviting students to come up with their own entrepreneurial ideas conceived in the mind and then to showcase publically so as to present it for the feasibility. The business plans were classified in to two streams i.e., Individual business plans and group business plans, the teams competed for two conquests, The best business plan and The best business concept. The Best Business Plan was evaluated based on the following criterion. Executive summary, Products or Services, Market and Marketing Strategy, Summary Financials, Offering and Viability, Distinctive competence, Overall Assessment of Written Plan while the best business concept was evaluated based on the following criterion, i.e., does the concept produce something novel, unique or special to provide a competitive advantage? Does the plan lay out a well-conceived, workable strategy for getting the business up and running?

The event was graced by the presence of Dean, Faculty of Commerce and Management Studies Dr. D.M. Semasinghe, Head, Department of Commerce and Financial Management Dr. C. Pathirawasam and Mr. Lasantha Fernando, Deputy General Manager, Development Banking Division, HNB PLC, Mr. Ajith Alahakoon, Deputy General Manager, Credit & Recovery, Regional Development Bank, representatives from Department of Divineguma Development, HDFC Bank, HDFC Bank and Lanka Puthra Development Bank. After a vigorous selection procedure chosen the best business plan to be awarded to both, as they scored equal marks, Happy Elders, elder care initiative, and Tranz, event management initiative, groups and the best business concept to be awarded to Rent a friend, wedding solution providing initiative by a third and final year students. The winning teams walked away with gold medals and the prizes.