Today I had been to the AUDBA QUEST '08 The annual business meet of Annamalai University Business Administration Department. They wanted me to judge their BUSINESS PLAN event. This is the 3rd time ive been invited by them.
My suggestion to them was to conduct this meet for a minimum of 3 days - because of paucity of time (now its a single day event) it was not possible to have all the teams participating.
Now coming to the event - BUSINESS PLAN - The participating team was to create new products or services and present their business plan.
The teams that participated and their products and services with my comments are:
1. VELLAMMAL COLLEGE OF BUSINESS ADMIN - "Xtasic Cane" - This plan was the best out of all, they had planned to pack the sugarcane juice in tetrapacks and sell it to corporate IT's.
2. ICFAI Chennai - "Servcare" - This is service to corporates for health and fittness to the senior employees. This is a novel idea the question is will the corporates buy their idea??
3. ICFAI Tanjore - Sun Micro Finance (P) Ltd - A very good plan, low interest rates for students and the needy from rural population.
4. NIT Trichy- "Your best option.com" - A web portal for e-business for rural India targeting the 2nd tier of cities like trichy coimbatore. The money comes in from the vendors of these towns and for the customer it is free.
5. ICFAI Salem - "Mystic Spa" @ Salem - A spa in a town like salem targeting at people who are health consious.
6. ICFAI Vellore - "Flyash bricks" - This is a product already in the market, their financials were a little bit dizzy, otherwise its a good product. This product has to be used to milk the market.
7. SRM Business School - "Safeed Musli" - The tuber of the medicinal plants for various pharma companies - Agro oriented product. Not much clarity on the final product as such.
8.SAIRAM COLLEGE Chennai - "Kalpavriksha" - A product for 3D projection of presentations, the product details were not worked out and the financials were not defined.
9. ALAGAPPA INSTITUTE OF MANAGEMENT - Karaikudi - "Chip Manufacturing Company" - The idea was a good one competition from INTEL AMD etc, the plan did not define the market and the strategies for it.
Overall the various business plans presented by the budding entrepreneurs were good the lacuna was in certain aspects like marketing and finance.
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